International Flavors & Fragrances Inc. (NYSE:IFF) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
International Flavors & Fragrances Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 19% to $1.19 in the quarter versus EPS of $1.00 in the year-earlier quarter.
Revenue: Rose 2.42% to $727.83 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: International Flavors & Fragrances Inc. reported adjusted EPS income of $1.19 per share. By that measure, the company beat the mean analyst estimate of $1.13. It missed the average revenue estimate of $751.5 million.
Quoting Management: “We are pleased with our performance this quarter, which resulted in an adjusted EPS improvement of 19%. In the first quarter, we delivered like-for-like sales growth of 4%, supported by strong underlying momentum in both Fragrance Compounds and Flavors, reflecting the diversity and strength of our category and geographic portfolios,” said Doug Tough, Chairman and Chief Executive Officer of IFF.
Key Stats (on next page)…