IFF (IFF) Misses Q4 EPS by 6c; offers guidance

IFF (NYSE: IFF) reported Q4 EPS of $0.72, $0.06 worse than the analyst estimate of $0.78. Revenue for the quarter came in at $2.7 billion versus the consensus estimate of $2.69 billion.

GUIDANCE:

IFF sees FY2024 revenue of $10.8-11.1 billion, versus the consensus of $11.43 billion.

Full year 2024 adjusted operating EBITDA to be in the range of $1.9 billion to $2.1 billion. In light of the continued macroeconomic uncertainty, the Company expects volume to be 0% to 3%, with improved trends across the majority of the portfolio. Pricing is expected to decline approximately 2.5%, principally driven by reductions in Functional Ingredients and Fragrance Ingredients, given lower input costs and competitive dynamics. Comparable currency neutral adjusted operating EBITDA is expected to grow at a faster rate than sales, growing 3% to 11% driven by improving volumes and productivity gains.

Based on current market foreign exchange rates, the Company expects that foreign exchange will have a 0% to 1% adverse impact to sales growth and an approximately 2% to 3% adverse impact to adjusted operating EBITDA growth in 2024.

For earnings history and earnings-related data on IFF (IFF) click here.

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