IFF Q2 sales $2.9B, adj. EBITDA $510M; launches sale of Lucas Meyer Cosmetics

INTERNATIONAL FLAVORS & FRAGRANCES INC

2023-Q2 EPS reported $0.07 revenue$5,956,000,000

Q2 GAAP EPS $0.11; adjusted EPS ex amortization $0.86; sales $2.9B.
Adj. operating EBITDA $510M at 17.4% margin; strong growth in Scent & Pharma Solutions.
Customer destocking largely isolated in Functional Ingredients within Nourish; one-time inventory write-down.
Launched sale process for Lucas Meyer Cosmetics; exploring further portfolio optimization.
Declared Q3 2023 dividend; focus on cash flow and working capital improvements.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

INTERNATIONAL FLAVORS & FRAGRANCES INC reported second quarter ended June 30, 2023 results: revenue $2.9 B, EPS $0.11.

Period: second quarter ended June 30, 2023
Revenue: $2.9 B
EPS: $0.11
Result: reported results

Exact text from the filing

2023. Second Quarter 2023 Consolidated Summary: Reported (GAAP) Adjusted (Non-GAAP) 1 Sales Income Before Taxes EPS Operating EBITDA Operating EBITDA Margin EPS ex Amortization $2.9 B $50 M $0.11 $510 M 17.4% $0.86 First Six Months 2023 Consolidated Summary: Reported (GAAP) Adjusted (Non-GAAP) 1 Sales Income Before Taxes EPS Operating EBITDA Operating EBITDA

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Source: SEC EDGAR

accession 0000051253-23-000026

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