International Flavors & Fragrances Inc

Latest Results (30.08.2026):

International Flavors & Fragrances Inc — First Quarter 2026: IFF delivered a solid start to 2026 with resilient underlying growth and improved adjusted profitability. Reported net sales were $2.74 billion (down 4% year‑over‑year), while comparable currency‑neutral sales rose 3%; adjusted operating EBITDA was $568 million and management reaffirmed full‑year 2026 guidance while running a disciplined sale process for the Food Ingredients business.

Consolidated results

Reported net sales: $2.74B (-4% vs. Q1 2025). Comparable (currency‑neutral) sales: +3%. Adjusted operating EBITDA: $568M; consolidated adjusted operating EBITDA margin: 20.7%. Income before taxes (reported): $209M; net income attributable to IFF shareholders: $169M.

Earnings per share

Reported diluted EPS: $0.66. Adjusted EPS excluding amortization: $1.25 per diluted share (up from $1.20 in Q1 2025 on an adjusted basis ex amortization).

Cash flow and leverage

Operating cash flow: $257M (up $130M YoY). Free cash flow: $92M (up $144M YoY). Total debt to trailing‑12‑month net income: 7.2x; net debt to credit adjusted EBITDA: 2.5x. Cash and cash equivalents: $562M.

Taste segment

Sales: $656M. Comparable currency‑neutral sales: +2%. Adjusted operating EBITDA: $153M; margin 23.3%. Comparable currency‑neutral adjusted operating EBITDA: +18%, driven by volume, pricing and productivity.

Health & Biosciences segment

Sales: $595M (comparable currency‑neutral +5%). Adjusted operating EBITDA: $153M; margin 25.7%. Comparable adjusted operating EBITDA: +7%, led by Animal Nutrition and Food Biosciences.

Scent segment

Sales: $651M (comparable currency‑neutral +1%). Adjusted operating EBITDA: $148M; margin 22.7%. Comparable adjusted operating EBITDA: -2% as pricing did not fully offset input cost pressure.

Food Ingredients segment & portfolio actions

Sales: $839M (comparable currency‑neutral +3%). Adjusted operating EBITDA: $114M; margin 13.6%. Comparable adjusted operating EBITDA: +12% from volume and productivity. Management is progressing a disciplined sale process for the Food Ingredients business to maximize shareholder value.

Guidance and outlook

IFF reaffirmed full‑year 2026 guidance: comparable currency‑neutral sales growth expected between 1%–4% and comparable currency‑neutral adjusted operating EBITDA growth of 3%–8%. Management expects FX to add ~1% to sales and notes divestitures will have an approximately 5% adverse impact on both sales and adjusted operating EBITDA for the year.