Company Reports

International Flavors & Fragrances reported solid second-quarter results highlighted by sales growth in all three segments.

International Flavors & Fragrances is a global leader in specialty ingredients for flavors, fragrances, and biosciences. Its portfolio has changed in recent years with the acquisition of DuPont's nutrition and biosciences business in 2021 and Frutarom in 2018.

International Flavors & Fragrances announced a deal to divest its food ingredients business to private equity firm CVC Capital Partners. IFF shares were up 2% at the time of writing on May 29.

International Flavors & Fragrances is a global leader in specialty ingredients for flavors, fragrances, and biosciences. Its portfolio has changed in recent years with the acquisition of DuPont's nutrition and biosciences business in 2021 and Frutarom in 2018.

International Flavors and Fragrances reported solid first-quarter earnings as higher volumes in all segments drove year-over-year profit growth. IFF shares were up 15% at the time of writing on May 6 as the market reacted to management maintaining its full-year guidance.

International Flavors & Fragrances is a global leader in flavors, fragrances, and biosciences specialty ingredients. Its portfolio has changed in recent years with the acquisition of DuPont's nutrition and biosciences business in 2021 and Frutarom in 2018.

International Flavors & Fragrances is a global leader in flavors, fragrances, and biosciences specialty ingredients. Its portfolio has changed in recent years with the acquisition of DuPont's nutrition and biosciences business in 2021 and Frutarom in 2018.

International Flavors and Fragrances' fourth-quarter earnings reflected sales and profit growth excluding divestitures and currency movements. IFF shares were up Feb. 12 on management's outlook for growth in 2026, excluding divestitures, and the news that IFF will sell its food ingredients business.

We updated our assumptions on IFF following a review of the company. IFF has generated little growth over the past couple of years as the company focused on restoring its balance sheet health following two value-destructive debt-funded acquisitions.

International Flavors & Fragrances is a global leader in flavors, fragrances, and biosciences specialty ingredients. Its portfolio has changed in recent years with the acquisition of DuPont's nutrition and biosciences business in 2021 and Frutarom in 2018.

International Flavors & Fragrances reported solid third-quarter results as adjusted EBITDA grew, excluding divestitures and foreign exchange movements. IFF shares were up 5% on Nov. 5 at the time of writing as the market reacted favorably to the results and management's maintained guidance.

International Flavors & Fragrances is a global leader in flavors, fragrances, and biosciences specialty ingredients. Its portfolio has changed in recent years with the acquisition of DuPont's nutrition and biosciences business in 2021 and Frutarom in 2018.

International Flavors & Fragrances' second-quarter adjusted EBITDA was up year over year, driven by higher volumes and prices. IFF shares were up 3% at the time of writing as management maintained its guidance and announced plans to restart share repurchases.

International Flavors & Fragrances is a global leader in flavors, fragrances, and biosciences specialty ingredients. Its portfolio has changed in recent years with the acquisition of DuPont's nutrition and biosciences business in 2021 and Frutarom in 2018.

After reviewing International Flavors and Fragrances' economic moat rating, we downgrade the rating to narrow from wide.

International Flavors & Fragrances is a global leader in flavors, fragrances, and biosciences specialty ingredients. Its portfolio has changed in recent years with the acquisition of DuPont's nutrition and biosciences business in 2021 and Frutarom in 2018.

IFF's first-quarter earnings saw volume growth and reduced unit production costs. In early May, IFF closed its pharma solutions divestiture, restoring its financial health. IFF shares were down 6% at the time of writing as guidance did not include a tariff impact and came in below consensus.

International Flavors & Fragrances is a global leader in flavors, fragrances, and biosciences specialty ingredients. Its portfolio has changed in recent years with the acquisition of DuPont's nutrition and biosciences business in 2021 and Frutarom in 2018.

US President Donald Trump announced sweeping tariffs that featured a minimum 10% tariff on all US imports, with only limited exceptions, and higher rates for select countries. Ingredient producer shares were mixed on the news, either up or down less than the broader market selloff.

IFF shares fell 5% in Feb. 19 trading as the market reacted to 2025 revenue and adjusted EBITDA guidance coming in below FactSet consensus estimates. We point to currency headwinds as the primary driver of lower profits.