FMP

FMP

Enter

IFF Raises Full-Year Revenue Outlook Following Mixed Q3, Stock Rises 2%

-

twitterlinkedinfacebook
blog post cover photo

Image credit: FMP

International Flavors & Fragrances (NYSE:IFF) shares rose around 2% pre-market today after the company reported mixed third-quarter results, with a slight earnings miss offset by a revenue beat that led the company to raise its full-year outlook. Adjusted earnings per share came in at $1.04, just below analyst estimates of $1.07, while revenue reached $2.93 billion, exceeding the expected $2.83 billion.

In the third quarter, IFF achieved growth across all its segments, with comparable currency-neutral sales increasing 9% year-over-year. The Health & Biosciences and Scent divisions saw double-digit growth, while Nourish and Pharma Solutions posted high single-digit increases. CEO Erik Fyrwald credited the performance to market recovery and a strong focus on meeting customer needs, which bolstered volumes across divisions.

Looking forward, the company raised its full-year 2024 revenue guidance to $11.3-$11.4 billion, up from a previous range of $11.1-$11.3 billion, and now anticipates volume growth of 5-6%, higher than the prior forecast of 3-5%.

Other Blogs

May 14, 2024 11:41 AM - Sanzhi Kobzhan

The easiest way to calculate stock’s target price and why the target price is important.

A stock's target price, also known as its fair value, is an indication of what a share can cost based on the company’s forecasted financial statements. It is important to know a stock's fair value to find undervalued stocks with great growth potential. Let's consider how investment analysts calculat...

blog post title

May 24, 2024 9:30 AM - Rajnish Katharotiya

How to Access and Analyze Earnings Call Transcripts

Earnings call transcripts are invaluable resources for investors, analysts, and financial enthusiasts. They provide insights into a company's performance, strategy, and future outlook, making them essential for making informed investment decisions. With Financial Modeling Prep, Earnings Call Transcr...

blog post title

May 27, 2024 3:30 PM - Rajnish Katharotiya

The best 5 GPU stocks other than NVDA

In the ever-evolving world of technology, certain sectors have consistently demonstrated exceptional growth and innovation. The graphics processing units (GPUs) industry is one such sector, offering investors a golden opportunity for potentially high returns. In this blog, we'll delve into why inves...

blog post title
FMP

FMP

Financial Modeling Prep API provides real time stock price, company financial statements, major index prices, stock historical data, forex real time rate and cryptocurrencies. Financial Modeling Prep stock price API is in real time, the company reports can be found in quarter or annual format, and goes back 30 years in history.
twitterlinkedinfacebookinstagram
2017-2024 © Financial Modeling Prep