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Last $110.96 USD
Change Today +0.26 / 0.23%
Volume 350.3K
IFF On Other Exchanges
Symbol
Exchange
New York
Stuttgart
EN Paris
As of 8:04 PM 08/28/15 All times are local (Market data is delayed by at least 15 minutes).

intl flavors & fragrances (IFF) Key Developments

International Flavors & Fragrances Inc. Reports Unaudited Consolidated Financial Results for the Second Quarter and Six Months Ended June 30, 2015; Provides Earnings Guidance for the Year 2015

International Flavors & Fragrances Inc. reported unaudited consolidated financial results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported net sales of $767,541,000 compared to $788,414,000 a year ago. Operating profit was $148,821,000 compared to $153,115,000 a year ago. Income before taxes was $136,978,000 compared to $146,353,000 a year ago. Net income was $105,374,000 compared to $110,285,000 a year ago. Diluted earnings per share were $1.29 compared to $1.35 a year ago. Non-GAAP operating profit was $155,310,000 compared to $156,410,000 a year ago. Non-GAAP income before taxes was $143,467,000 compared to $149,648,000 a year ago. Non-GAAP net income was $111,043,000 compared to $112,453,000 a year ago. Non-GAAP diluted earnings per share were $1.36 compared to $1.37 a year ago. For the six months, the company reported net sales of $1,542,448,000 compared to $1,558,638,000 a year ago. Operating profit was $310,613,000 compared to $309,168,000 a year ago. Income before taxes was $293,386,000 compared to $289,286,000 a year ago. Net income was $233,632,000 compared to $216,992,000 a year ago. Diluted earnings per share were $2.86 compared to $2.64 a year ago. Net cash provided by operating activities was $166,318,000 compared to $154,030,000 a year ago. Additions to property, plant and equipment was $37,937,000 compared to $60,244,000 a year ago. Non-GAAP operating profit was $318,070,000 compared to $315,204,000 a year ago. Non-GAAP income before taxes was $300,843,000 compared to $295,322,000 a year ago. Non-GAAP net income was $229,481,000 compared to $220,981,000 a year ago. Non-GAAP diluted earnings per share were $2.81 compared to $2.69 a year ago. For the full year 2015, the company expects currency neutral sales to grow about 6%, including approximately 2 percentage points related to the acquisitions of Ottens Flavors and Lucas Meyer Cosmetics. It expects this growth, combined with continued cost control, should lead to approximately 9% adjusted operating profit growth and about 10% adjusted EPS growth, all on a currency neutral basis. Based on where exchange rates are at present, it would expect full year sales to be down approximately 1% and adjusted operating profit to rise 4% including the impact of currency.

International Flavors & Fragrances Inc. Declares Regular Quarterly Cash Dividend, Payable on October 6, 2015

International Flavors & Fragrances Inc. announced that its Board of Directors has authorized a quarterly dividend of $0.56 per share of the company’s common stock, an increase of $0.09 or 20% from the current quarterly dividend of $0.47 per share, which will result in a more competitive dividend yield. The quarterly dividend will be payable on October 6, 2015 to shareholders of record as of September 25, 2015.

International Flavors & Fragrances Inc. to Report Q2, 2015 Results on Aug 10, 2015

International Flavors & Fragrances Inc. announced that they will report Q2, 2015 results at 5:00 PM, Eastern Standard Time on Aug 10, 2015

International Flavors & Fragrances Inc., Q2 2015 Earnings Call, Aug 11, 2015

International Flavors & Fragrances Inc., Q2 2015 Earnings Call, Aug 11, 2015

International Flavors & Fragrances Inc Launches Amber XtremeTM

International Flavors & Fragrances Inc. announced the launch of Amber XtremeTM. This ingredient was previously a captive fragrance ingredient for the exclusive use of IFF’s perfumers and is now available for broad use within the fragrance industry. Amber Xtreme is an amber woody ingredient that enhances fragrance performance. Its performance and stability make it desirable across a spectrum of product categories including fine fragrances, beauty care, fabric care and household cleaners. Amber Xtreme provides olfactive versatility in conjunction with a range of fragrance ingredients.

 

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Industry Analysis

IFF

Industry Average

Valuation IFF Industry Range
Price/Earnings 21.0x
Price/Sales 2.9x
Price/Book 5.5x
Price/Cash Flow 20.7x
TEV/Sales 2.5x
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