IFF reported strong financial performance in Q3 2024, with impressive revenue and volume growth across all segments. The company has raised its financial guidance for the full year, indicating confidence in its operational execution. However, caution remains for Q4 due to macroeconomic factors and potential end-of-year inventory adjustments by customers.

Company Guidance

During the third quarter earnings call for IFF, the company provided an optimistic outlook for the remainder of 2024, showing confidence in increasing its full-year financial guidance. IFF reported significant volume improvements across its business units, achieving high single-digit volume growth and double-digit growth in comparable adjusted operating EBITDA. The company revised its net sales guidance to a range of $11.3 billion to $11.4 billion, an increase of nearly $100 million from previous estimates. Additionally, IFF targeted the high end of its EBITDA range, narrowing it to $2.1 billion to $2.17 billion. The company highlighted its strategic efforts in productivity gains and innovation as key drivers of these encouraging results. Furthermore, IFF emphasized progress in its portfolio optimization, noting the planned divestiture of its pharma solutions business by the first half of 2025.

Revenue and Volume Growth

IFF reported a revenue of just over $2.9 billion for Q3, marking a 9% increase on a comparable currency-neutral basis. The company achieved high single-digit volume growth across all business units.

Adjusted Operating EBITDA and Margin Expansion

Comparable adjusted operating EBITDA increased by 16% in Q3, with the adjusted operating EBITDA margin improving by 180 basis points to 19.4%.

Strong Segment Performance

Nourish and Health & Biosciences achieved strong results, with Nourish seeing a 7% sales increase and an 18% rise in adjusted operating EBITDA. Health & Biosciences experienced 12% sales growth and a 15% increase in adjusted operating EBITDA.

Financial Guidance Increase

IFF increased its full-year 2024 financial guidance, expecting net sales between $11.3 billion and $11.4 billion, and targeting the high end of the adjusted operating EBITDA range of $2.1 billion to $2.17 billion.

Functional Ingredients Turnaround

Functional Ingredients saw high single-digit volume growth, with the business returning to growth and achieving gross margin expansion.

Pharma Solutions Growth

Pharma Solutions returned to growth with an 8% increase in sales and a 32% rise in adjusted operating EBITDA.

---

International Flavors & Fragrances (IFF) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

IFF Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Feb 05, 2025	2024 (Q4)	0.82 / -	0.72	―	―	―
Nov 05, 2024	2024 (Q3)	1.07 / 1.04	0.89	16.85% (+0.15)
Aug 06, 2024	2024 (Q2)	0.99 / 1.16	0.86	34.88% (+0.30)
May 06, 2024	2024 (Q1)	0.86 / 1.13	0.87	29.89% (+0.26)
Feb 20, 2024	2023 (Q4)	0.76 / 0.72	0.97	-25.77% (-0.25)
Nov 06, 2023	2023 (Q3)	0.75 / 0.89	1.36	-34.56% (-0.47)
Aug 07, 2023	2023 (Q2)	1.10 / 0.86	1.54	-44.16% (-0.68)
May 08, 2023	2023 (Q1)	0.89 / 0.87	1.69	-48.52% (-0.82)
Feb 08, 2023	2022 (Q4)	0.96 / 0.97	1.1	-11.82% (-0.13)
Nov 07, 2022	2022 (Q3)	1.33 / 1.36	1.47	-7.48% (-0.11)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

---

IFF Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 05, 2024	$98.64	$87.16	-11.64%
Aug 06, 2024	$95.66	$93.41	-2.35%
May 06, 2024	$87.54	$93.14	+6.40%
Feb 20, 2024	$80.61	$75.45	-6.40%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

---