IFF reports Q1 2023: GAAP EPS $(0.04), adj. EPS $0.87; sales flat at $3.03B

INTERNATIONAL FLAVORS & FRAGRANCES INC

2023-Q1 EPS reported -$0.04 revenue$3,027,000,000

Reported net sales $3.03B flat YoY; currency-neutral comparable sales +1% led by Scent and Pharma.
GAAP EPS $(0.04); adjusted EPS ex amortization $0.87.
Adjusted operating EBITDA $503M, down 19% comparable currency-neutral; lower volumes and destocking offset pricing.
Cash from operations $127M; free cash flow -$48M; net debt to credit adjusted EBITDA 4.6x.
CEO says results in line/ahead of expectations but market conditions remain uncertain.

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 first quarter ended March 31, 2023 results: revenue $3.03 billion, EPS $(0.04).

Period: first quarter ended March 31, 2023
Revenue: $3.03 billion
EPS: $(0.04)
Result: reported results

Exact text from the filing

drive portfolio optimization to generate strong returns for our shareholders.” First Quarter 2023 Consolidated Financial Results • Reported net sales for the first quarter were $3.03 billion, flat versus the prior-year period. On a comparable basis 2 , currency neutral sales increased 1% versus the prior-year period, led by Scent and Pharma Solutions. • Income before

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Source: SEC EDGAR

accession 0000051253-23-000015

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