IFF Q3 sales $2.82B, adj. EPS $0.89; guides FY adj. EBITDA to mid-high end

INTERNATIONAL FLAVORS & FRAGRANCES INC

2023-Q3 EPS reported $0.16 revenue$8,776,000,000

Reported Q3 sales $2.82B (-8% YoY); currency-neutral sales -3% YoY.
GAAP EPS $0.10; adjusted EPS $0.89 (ex-amortization).
Adjusted operating EBITDA $506M, margin 17.9%.
Maintains FY2023 sales guidance; expects FY adj. EBITDA at mid-to-high end of range.
CEO notes sequential volume improvement; pursuing asset divestitures to reduce debt.

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 nine months 2023 results: revenue $8.8 B, net income $123 M, EPS $0.16.

Period: first nine months 2023
Revenue: $8.8 B
Net income: $123 M
EPS: $0.16
Result: reported results

Exact text from the filing

First Nine Months 2023 Consolidated Summary: Reported (GAAP) Adjusted (Non-GAAP) 1 Sales Income Before Taxes EPS Operating EBITDA Operating EBITDA Margin EPS ex Amortization $8.8 B $123 M $0.16 $1.5 B 17.3% $2.61

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

INTERNATIONAL FLAVORS & FRAGRANCES INC reported third quarter ended September 30, 2023 results: revenue $2.82 billion, net income $59 M, EPS $0.10.

Period: third quarter ended September 30, 2023
Revenue: $2.82 billion
Net income: $59 M
EPS: $0.10
Result: reported results

Exact text from the filing

to further reduce our outstanding debt and strengthen our capital structure." Third Quarter 2023 Consolidated Financial Results • Reported net sales for the third quarter were $2.82 billion, a decrease of 8% versus the prior-year period. On a comparable basis 2 , currency neutral sales 1 decreased 3% versus the prior-year period, as growth in Scent and Health &

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Source: SEC EDGAR

accession 0000051253-23-000032

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