International Flavors & Fragrances Inc. (NYSE:IFF) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.07%.
International Flavors & Fragrances Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 5.56% to $1.14 in the quarter versus EPS of $1.08 in the year-earlier quarter.
Revenue: Rose 5.03% to $757.6 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: International Flavors & Fragrances Inc. reported adjusted EPS income of $1.14 per share. By that measure, the company missed the mean analyst estimate of $1.18. It beat the average revenue estimate of $752.03 million.
Quoting Management: Doug Tough, Chairman and Chief Executive Officer of IFF said, “IFF achieved strong operating results this quarter, with both business units achieving double-digit growth in segment profit, due to the continued disciplined execution of our strategy. By focusing on expanding our geographic reach, strengthening our innovation platform and maximizing the value of our portfolio, we achieved strong top-line growth and margin expansion. Our profitability metrics, including gross profit margin, adjusted operating profit margin and adjusted net income margin, were all ahead of the prior year figures.”
Key Stats (on next page)…