Welcome to our dedicated page for International Flavors & Fragrances news (Ticker: IFF), a resource for investors and traders seeking the latest updates and insights on International Flavors & Fragrances stock.
International Flavors & Fragrances Inc. (IFF) is a leading innovator in creating sensorial experiences that drive the world of flavors and fragrances. Headquartered in New York, the company partners with customers globally to develop unique products for the food, beverage, health, personal care, and household goods industries. With a strong commitment to discovery and innovation, IFF continuously explores new possibilities in both fine fragrances and beauty, as well as in beloved foods and beverages.
IFF's core businesses include the Nourish segment, which accounts for nearly half of its revenue. This segment specializes in producing flavors, texturants, and plant-based proteins, providing essential ingredients that enhance the appeal and functionality of food products. Additionally, the Health & Biosciences division, generating roughly one-fourth of the company's revenue, is renowned for its expertise in probiotics and enzymes, making significant contributions to health and wellness solutions.
The company leverages its global team of 7,300 professionals along with leading consumer insights, research and development, and creative expertise to deliver differentiated products. Their proprietary formulations and custom solutions are a testament to their innovative approach and customer-centric focus.
IFF has recently made remarkable advancements in excipient technology, presenting its comprehensive range at global events such as CPhI Japan 2024 and Vitafoods Europe 2024. These showcases highlight the company's commitment to driving pharmaceutical innovation, with notable products like METHOCEL™, ETHOCEL™, and POLYOX™ under its new controlled release platform, 'Timing is Everything'. This new platform emphasizes the importance of controlled release in pharmaceutical therapies, aiming to improve patient compliance and treatment efficacy.
IFF continues to expand its innovative offerings and partnerships, demonstrating a significant impact across various industries. The company's dedication to sustainability and precision in science and creativity positions it as a key player in transforming everyday experiences and contributing to a better world.
For more detailed information about their latest projects and developments, visit their official website at iff.com.
IFF (NYSE: IFF) has appointed Glenn Richter as Executive Vice President and Chief Financial Officer, effective September 27, 2021. Richter, formerly CFO at TIAA, succeeds Rustom Jilla. IFF has updated its financial guidance for 2021, projecting sales growth exceeding 8% to around $11.55 billion, with a third-quarter double-digit growth outlook. However, adjusted operating EBITDA margin is revised to approximately 21.5%, reflecting inflationary pressures on costs. The company emphasizes confidence in addressing these challenges while enhancing shareholder value.
On September 9, 2021, IFF (NYSE: IFF) will host a virtual fireside chat featuring Chairman & CEO Andreas Fibig and President of Nourish Nicolas Mirzayantz at 12 pm ET during the Barclays 2021 Global Consumer Staples Conference. Investors can access the live webcast and presentation slides on the company's website, with a replay available afterward. IFF is recognized for its innovative contributions across industries, including food, beverage, scent, health, and biosciences, and aims to create sustainable solutions that benefit both people and the planet.
IFF has entered into a $1.3 billion agreement to sell its Microbial Control business unit to LANXESS. The proceeds will primarily be used to reduce outstanding debt, enhancing IFF’s financial profile. The Microbial Control unit generated approximately $440 million in annual revenue and $85 million in EBITDA in 2021, focusing on preservation and hygiene solutions across various industries. IFF aims for a seamless transition, expecting the deal to close in the second quarter of 2022, subject to regulatory approvals.
International Flavors & Fragrances reported Q2 2021 results with revenue of $3.1 billion, representing a 158% increase year-over-year, primarily due to the merger with Nutrition & Biosciences. Adjusted operating EBITDA reached $679 million, up 184%, while EPS was $0.11 or $1.50 excluding amortization. The firm anticipates 7% growth for the full year and has increased its quarterly dividend by 3%, marking its twelfth consecutive year of hikes. Despite strong cash flow generation, margins faced pressures from rising raw material costs.
IFF (NYSE: IFF) has appointed Nicolas Mirzayantz as the new President of its Nourish division, effective September 1, 2021. He succeeds Kathy Fortmann, who is leaving to explore other opportunities. Mirzayantz brings extensive experience from his previous role as President of the Scent division, where he achieved a 5% compound annual growth rate. Christophe de Villeplee will take over Mirzayantz's former role as President of Scent. The leadership transition aims to leverage IFF's strong product portfolio and innovation to drive growth in the global food and beverage sector.
IFF (NYSE:IFF) will release its second quarter 2021 earnings results on August 5, 2021, after market close. A live webcast will take place on August 6, 2021, at 10:00 a.m. ET, to discuss the results and outlook. Investors can access both the live and recorded versions of the webcast on the Company's website.
As a leader in food, beverage, scent, health, and biosciences, IFF focuses on combining science and creativity to deliver innovative solutions that meet global demand.
On May 20, 2021, IFF (NYSE: IFF) launched its Science of Wellness program in response to consumer demand for holistic wellbeing solutions. This initiative leverages over forty years of fragrance research and advanced AI technology to create scents that offer emotional and cognitive benefits. The wellness market is expected to grow annually by 5 to 10% by 2025. An IFF study indicated that 87% of consumers prefer fragrances with wellness benefits. The program aims to innovate in fragrance design, utilizing extensive data to inform product development.
International Flavors & Fragrances reported Q1 2021 results with net sales of $2.47 billion, an 83% increase year-over-year, primarily due to its merger with Nutrition & Biosciences. Adjusted EBITDA rose 88% to $569 million, while reported EPS was $(0.21). The company plans to divest its fruit preparation business, expected to close in Q3 2021, contributing about $70 million in sales.
The updated 2021 sales guidance is approximately $11.25 billion, with an adjusted operating EBITDA margin of ~23%.
IFF (NYSE: IFF) has declared a quarterly cash dividend of $0.77 per share, scheduled for payment on July 6, 2021. Shareholders on record as of June 25, 2021 will receive this dividend. This decision reflects the company's commitment to returning value to its shareholders while continuing to operate as a leader in the food, beverage, scent, health, and biosciences sectors. IFF emphasizes its dedication to sustainability and innovation in creating solutions for enhancing both consumer experiences and environmental responsibility.
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