IFF reports Q3 GAAP loss of $2.0B on $2.25B goodwill impairment; adjusted EBITDA $612M

INTERNATIONAL FLAVORS & FRAGRANCES INC

2022-Q3 EPS reported -$7.22 revenue$9,596,000,000

Q3 GAAP net loss $2.0B, EPS ($8.60); includes $2.25B goodwill impairment in Health & Biosciences unit.
Adjusted (non-GAAP) operating EBITDA $612M (20.0% margin); adjusted EPS ex amortization $1.36.
Q3 sales $3.1B, driven by pricing actions that offset volume declines and FX headwinds.
First nine months 2022: sales $9.6B, adjusted operating EBITDA $2.0B (21.0% margin), adjusted EPS $4.59.
CEO Frank Clyburn: cautious Q4 outlook due to challenging market conditions; focus on cost efficiencies.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

INTERNATIONAL FLAVORS & FRAGRANCES INC reported third quarter ended September 30, 2022 results: revenue $3.1 B, EPS $(8.60).

Period: third quarter ended September 30, 2022
Revenue: $3.1 B
EPS: $(8.60)
Result: reported results

Exact text from the filing

IFF Reports Third Quarter 2022 Results NEW YORK - November 7, 2022 - IFF (NYSE: IFF) reported financial results for the third quarter ended September 30, 2022. Third Quarter 2022 Consolidated Summary: Reported (GAAP) Adjusted (Non-GAAP) 1 Sales Loss Before Taxes EPS Operating EBITDA Operating EBITDA Margin EPS ex Amortization $3.1 B $(2.0) B $(8.60) $612 M 20.0% $1.36

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Source: SEC EDGAR

accession 0000051253-22-000028

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