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International Flavors & Fragrances Posts Lower Q1 Adjusted Profit

05/10/2021 12:31

04:25 PM EDT, 05/10/2021 (MT Newswires) -- International Flavors & Fragrances (IFF) on Monday reported an adjusted EPS of $1.60 in Q1, down from $1.62 a year earlier, but still beating analyst estimates of $1.55 in a Capital IQ survey.

Revenue jumped 83% to $2.47 billion from a year ago, driven by the incremental sales related to the merger with Nutrition & Biosciences, just ahead of the $2.45 billion estimate.

For 2021, the company expects revenue of about $11.25 billion and an adjusted operating EBITDA margin of about 23%, against the Street estimate of $11.11 billion for revenue.

Previously, the company expected full-year 2021 pro-forma sales of $11.5 billion.

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