IFF reports Q4 loss of $2.6B on goodwill impairment; adjusted EBITDA up 17%

INTERNATIONAL FLAVORS & FRAGRANCES INC

2023-FY EPS reported -$10.05 revenue$11,479,000,000

Q4 sales $2.7B, down 5% YoY; comparable currency neutral sales up 1%.
Reported loss before taxes $2.64B largely due to $2.6B non-cash goodwill impairment.
Adjusted operating EBITDA $461M, +17% on comparable currency neutral basis.
Full year sales $11.5B; reported EPS $(10.05); adjusted EPS ex amortization $3.34.
CEO highlights dividend policy update to enable faster deleveraging.

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 0.9

INTERNATIONAL FLAVORS & FRAGRANCES INC reported financial results for the quarter and fiscal year ended December 31, 2023.

Period: the quarter and fiscal year ended December 31, 2023
Result: reported results

Exact text from the filing

Attached and being furnished hereby as Exhibit 99.1 is a copy of a press release of International Flavors & Fragrances Inc. (“IFF” or the “Company”), dated February 20, 2024, reporting IFF’s financial results for the quarter and fiscal year ended December 31, 2023.

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INTERNATIONAL FLAVORS & FRAGRANCES INC filing history →

Source: SEC EDGAR

accession 0000051253-24-000003

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