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International Flavors: 3Q Earnings Snapshot

November 4, 2019 GMT

NEW YORK (AP) _ International Flavors & Fragrances Inc. (IFF) on Monday reported third-quarter profit of $127.1 million.

The New York-based company said it had net income of $1.13 per share. Earnings, adjusted for non-recurring costs, came to $1.53 per share.

The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.54 per share.

The ingredients producer for food, cosmetics and consumer products industries posted revenue of $1.27 billion in the period, also falling short of Street forecasts. Four analysts surveyed by Zacks expected $1.29 billion.

International Flavors expects full-year earnings in the range of $6.15 to $6.35 per share, with revenue in the range of $5.15 billion to $5.25 billion.

International Flavors shares have fallen roughly 8% since the beginning of the year, while the Standard & Poor’s 500 index has increased 23%. In the final minutes of trading on Monday, shares hit $124.09, a decrease of 15% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on IFF at https://www.zacks.com/ap/IFF