AI Earnings Predictions for International Flavors & Fragrances Inc. (IFF)

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2 q32026991pressreleaseofiff.htm

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Document

FOR IMMEDIATE RELEASE

Media Relations:

Jennifer McGowan

848.358.1680

Media.request@iff.com

Investor Relations:

Michael Bender

212.708.7263

Investor.Relations@iff.com

IFF Reports Third Quarter 2026 Results

Delivered Strong Sales, Profit and Cash Flow Performance in Third Quarter 2026

Raising Low-End of Full Year 2026 Financial Guidance Ranges

Recently Completed $500M Share Repurchase Authorization

Food Ingredients Divestiture Progressing Well and On Track to Close by End of Second Quarter 2027

NEW YORK - November 3, 2026 - IFF (NYSE: IFF) reported financial results for the third quarter ended September 30, 2026. Results are presented on a continuing operations basis, excluding the Food Ingredients business and other minor perimeter adjustments (the “Food Ingredients disposal group”), and the Soy Crush, Concentrates, and Lecithin businesses (the “SCL disposal group”). The Food Ingredients disposal group and the SCL disposal group are reported as discontinued operations.

Third Quarter 2026 Consolidated Summary of Results, on a continuing operations basis1:

Reported (GAAP)Adjusted (Non-GAAP)2

SalesLoss Before TaxesEPSOperating EBITDAOperating EBITDA MarginEPS ex Amortization

$1.9 B$(134) M$(0.50)$403 M20.8%$0.83

First Nine Months 2026 Consolidated Summary of Results, on a continuing operations basis1:

Reported

(GAAP)

Adjusted

(Non-GAAP)2

SalesIncome Before TaxesEPSOperating EBITDAOperating EBITDA MarginEPS ex Amortization

$5.8 B$126 M$0.23$1.2 B21.4%$2.58

Management Commentary

“IFF delivered a solid third quarter, with improved sales and profitability across all divisions,” said Erik Fyrwald, CEO of IFF. “Taste and Scent delivered strong top- and bottom-line results, and Health & Biosciences improved modestly as we continue to strengthen the business. We also generated strong cash flow through the first nine months of 2026 and recently completed our $500 million accelerated share repurchase program. The separation of Food Ingredients is progressing well, and we are on track with our timeline to close.”

1 Unless otherwise noted, results are presented on a continuing operations basis, reflecting the Food Ingredients disposal group and the SCL disposal group as discontinued operations. See pages 5-6 for further information, including the basis of presentation included in this release.

2 Schedules at the end of this release contain reconciliations of reported GAAP to Non-GAAP metrics. See Use of Non-GAAP Financial Measures for explanations of our Non-GAAP metrics.

1

“Heading into year-end, we are raising the low end of our full-year financial guidance ranges, supported by our year-to-date performance. Volumes remain solid as customers continue to value our strong R&D and innovation. At the same time, we expect fourth-quarter profitability to be softer, particularly in Health & Biosciences, reflecting higher costs as well as reinvestments to strengthen the business. Amid changing macroeconomic conditions, we remain focused on what we can control and are delivering on the financial commitments we set out earlier this year. Our continued execution and these actions give us confidence to deliver results within our full-year financial outlook and our ability to create long-term value for shareholders.”

Third Quarter 2026 Consolidated Financial Results1

•Reported net sales for the third quarter were $1.94 billion, an increase of 4% versus the prior-year period. On a comparable basis3, currency neutral sales2 increased 5% versus the prior-year period led by broad-based growth including mid-single digit performances in Scent and Taste and low-single digit growth in Health & Biosciences.

•Loss from continuing operations before taxes on a reported basis for the third quarter was $(134) million. Adjusted operating EBITDA2 for the third quarter was $403 million. On a comparable basis3, currency neutral adjusted operating EBITDA2 improved 6% versus the prior-year period, driven by volume growth.

•Reported earnings per share (EPS) for the third quarter was $(0.50) per diluted share. Adjusted EPS excluding amortization2 was $0.83 per diluted share.

•Cash flows from operations for the first nine months of the year for continuing and discontinued operations were $820 million, increasing $288 million year-over-year, and free cash flow2, defined as cash flows from operations less capital expenditures, totaled $371 million, increasing $245 million year-over-year. Total debt to trailing twelve months net income at the end of the third quarter was 34.5x. Net debt to credit adjusted EBITDA2 at the end of the third quarter was 2.75x, and includes the effects of both continuing and discontinued operations.

Third Quarter 2026 Segment Summary1: Growth vs. Prior Year

Reported

(GAAP)

Comparable Currency Neutral

(Non-GAAP)2 3

Adjusted

(Non-GAAP)2

Comparable Currency Neutral

Adjusted

(Non-GAAP)2 3

SalesSalesOperating EBITDAOperating EBITDA

T

EX-99.1

6 q22026991pressreleaseofiff.htm

EX-99.1

Document

FOR IMMEDIATE RELEASE

Media Relations:

Jennifer McGowan

848.358.1680

Media.request@iff.com

Investor Relations:

Michael Bender

212.708.7263

Investor.Relations@iff.com

IFF Reports Second Quarter 2026 Results; Announces Use of Proceeds Plan for Food Ingredients Divestiture

Delivered Strong Sales, Profit and Cash Flow Performance in Second Quarter 2026

Provides Full Year 2026 Financial Guidance on a Continuing Operations Basis

Announces Enhanced $2.5B Share Repurchase Authorization; Including $500M Accelerated Share Repurchase in the second half of 2026

NEW YORK - August 4, 2026 - IFF (NYSE: IFF) reported financial results for the second quarter ended June 30, 2026. Results are presented on a continuing operations basis, excluding the Food Ingredients business and other minor perimeter adjustments (the “Food Ingredients disposal group”), and the Soy Crush, Concentrates, and Lecithin businesses (the “SCL disposal group”). The Food Ingredients disposal group and the SCL disposal group are reported as discontinued operations.

Second Quarter 2026 Consolidated Summary of Results, on a continuing operations basis1:

Reported (GAAP)Adjusted (Non-GAAP)2

SalesIncome Before TaxesEPSOperating EBITDAOperating EBITDA MarginEPS ex Amortization

$2.0 B$64 M$0.13$408 M20.9%$0.82

First Six Months 2026 Consolidated Summary of Results, on a continuing operations basis1:

Reported

(GAAP)

Adjusted

(Non-GAAP)2

SalesIncome Before TaxesEPSOperating EBITDAOperating EBITDA MarginEPS ex Amortization

$3.9 B$260 M$0.73$841 M21.8%$1.74

Management Commentary

“IFF delivered a strong first half of 2026 on a continuing operations basis,” said Erik Fyrwald, CEO of IFF. “Performance was driven by volume growth, disciplined margin execution and robust free cash flow generation. These results reflect the strength of our commercial and innovation pipelines and the actions underway to improve efficiency and cash flow across the company.”

1 Unless otherwise noted, results are presented on a continuing operations basis, now reflecting the Food Ingredients disposal group and the SCL disposal group as discontinued operations. See pages 5-6 for further information, including the basis of presentation included in this release.

2 Schedules at the end of this release contain reconciliations of reported GAAP to Non-GAAP metrics. See Use of Non-GAAP Financial Measures for explanations of our Non-GAAP metrics.

1

“This quarter marked a defining step in our portfolio transformation with the announced agreement to divest Food Ingredients. The transaction sharpens IFF's focus on Taste, Scent, and Health & Biosciences, creating a simpler, higher-growth, higher-margin company with enhanced cash generation. As part of this transformation, we are taking decisive action to eliminate related stranded costs and will execute with urgency.”

“We are also providing greater clarity on our intended use of proceeds from the divestiture of the Food Ingredients business through a sequenced capital allocation framework. Our objective is to maintain a strong balance sheet and financial flexibility to deliver our growth ambitions with leverage in the range of 2.0x to 2.5x net debt to EBITDA. Therefore we will apply net proceeds to reduce outstanding debt by over $1 billion. The Board has also authorized an enhanced $2.5 billion share repurchase program, beginning with $500 million to be executed in the second half of 2026, reflecting our confidence in IFF’s long-term value creation opportunity and the compelling return profile of repurchases at current valuation levels. We expect to execute the remaining $2.0 billion of the authorization following the anticipated transaction close, with completion of this repurchase program targeted by the end of 2027.”

“With Food Ingredients now reported as discontinued operations, we are introducing full-year 2026 guidance on a continuing operations basis. The underlying performance in the three business units is consistent with previous guidance given. The new presentation provides greater visibility into the growth and margin profile of our go-forward portfolio, reinforcing the outlook for IFF’s continuing operations and our ability to create long-term shareholder value.”

Second Quarter 2026 Consolidated Financial Results1

•Reported net sales for the second quarter were $1.95 billion, an increase of 2% versus the prior-year period. On a comparable basis3, currency neutral sales2 increased 6% versus the prior-year period led by broad-based growth including high-single digit performance in Scent and mid-single digit growth in Taste and Health & Biosciences. Inclusive of discontinued operations net sales of $827 million, net sales for the second quarter were $2.78 billion.

•Income from continuing operations before taxes on a reported basis for the second quarter was $64 million. Adjusted operating EBITDA2 for the second quarter was $408 million. On a comparabl

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