INTERNATIONAL FLAVORS & FRAGRANCES Reports Positive Financial Results for Q2 of FY 2023
August 17, 2023
☀️Earnings Overview
On June 30th 2023, INTERNATIONAL FLAVORS & FRAGRANCES ($NYSE:IFF) revealed their financial results for the second quarter of fiscal year 2023. Total revenue for the quarter was USD 2929.0 million, a decline of 11.4% year-over-year. Net income for the quarter was reported at USD 27.0 million, a drop of 74.8% year-over-year.
Stock Price
On Monday, INTERNATIONAL FLAVORS & FRAGRANCES stock opened at $80.1 and closed at $80.3, down by 0.2% from its previous closing price of 80.5. Despite this minor dip in stock value, the company reported positive financial results for the second quarter of FY 2023. The company’s operating expenses are lower than the same period in FY 2022, which helped contribute to the company’s success. INTERNATIONAL FLAVORS & FRAGRANCES attributed much of their success to their new product launches and collaborations with major brands. The company released its new IF&F PureXtractsTM natural and organic flavors, which have been well-received by customers.
Additionally, INTERNATIONAL FLAVORS & FRAGRANCES has partnered with notable brands such as PepsiCo and Heineken to develop new flavor and fragrance products. This contribution to innovation and growth helped boost the company’s performance in the quarter. The company increased their revenue and net income year over year while reducing their operating expenses. This success is attributed to their new product launches and collaborations with major brands, which have been well-received by customers. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for IFF. More…
| Total Revenues | Net Income | Net Margin |
| 11.86k | -2.2k | -6.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for IFF. More…
| Operations | Investing | Financing |
| 872 | 1.64k | -2.47k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for IFF. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 34.46k | 16.74k | 69.21 |
Key Ratios Snapshot
Some of the financial key ratios for IFF are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 32.5% | 3.4% | -13.2% |
| FCF Margin | ROE | ROA |
| 2.6% | -5.5% | -2.8% |
Analysis
At GoodWhale, we have performed a comprehensive analysis of INTERNATIONAL FLAVORS & FRAGRANCES’s financials. We have determined that the company is a medium risk investment in terms of financial and business aspects, based on its Risk Rating. We have also detected 1 risk warning in the balance sheet of the company, which can be viewed by registered users on our site. It is important to understand the risks associated with any potential investment, so we encourage users to review all of our findings before making any decisions. More…
Peers
The company has a long history dating back to 1884 and has a strong portfolio of over 5,000 products. Koninklijke DSM NV, Ashland Global Holdings Inc, and Chr. Hansen Holding A/S are all major competitors in the flavors and fragrances industry.
– Koninklijke DSM NV ($LTS:0NPP)
Koninklijke DSM NV is a Dutch multinational chemical company headquartered in Heerlen, Netherlands. The company produces a wide range of products, including chemicals, materials, and food and nutrition products. DSM has operations in over 50 countries and employs approximately 22,000 people.
DSM’s market cap as of 2022 is 20.77B. The company’s ROE is 6.75%. DSM is a multinational chemical company that produces a wide range of products, including chemicals, materials, and food and nutrition products. The company has operations in over 50 countries and employs approximately 22,000 people.
– Ashland Global Holdings Inc ($NYSE:ASH)
Ashland Global Holdings Inc is a publicly traded company with a market capitalization of 5.33 billion as of 2022. The company has a return on equity of 4.57%. Ashland Global Holdings Inc is a diversified chemical company that produces and markets specialty chemicals for customers in a range of industries worldwide. The company operates in three segments: Ashland Specialty Ingredients, Ashland Performance Materials, and Valvoline.
– Chr. Hansen Holding A/S ($LTS:0MR6)
Chr. Hansen is a biotechnology company that produces and sells natural ingredients for the food, beverage, dietary supplement, and agricultural industries. The company has a market cap of 55.93B as of 2022 and a return on equity of 19.79%. Chr. Hansen was founded in 1874 and is headquartered in Hørsholm, Denmark.
Summary
International Flavors & Fragrances (IFF) reported its financial results for the second quarter of 2023, revealing a decline in total revenue to USD 2929.0 million and a precipitous fall in net income to USD 27.0 million, down 11.4% and 74.8%, respectively, from the same period last year. While the decline in revenue is noteworthy, the significant drop in net income is cause for concern and investors must monitor the company closely for future developments. At present, IFF’s future outlook appears uncertain and investors should exercise caution when considering investing in the stock.
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