Int'l Flavors & Fragrances (IFF) Tops Q4 EPS by 1c

Int'l Flavors & Fragrances (NYSE: IFF) reported Q4 EPS of $1.46, $0.01 better than the analyst estimate of $1.45. Revenue for the quarter came in at $1.3 billion versus the consensus estimate of $1.27 billion.

“2019 was a transformational year for IFF as we continued to take important steps to redefine our industry, including our integration of Frutarom and recently announced combination with DuPont Nutrition & Biosciences,” said IFF Chairman and CEO Andreas Fibig. “Importantly, we continued to achieve significant cost synergies from Frutarom well ahead of our year-one targets, and captured solid year one revenue synergies, demonstrating our broad operational strength.

“In the fourth quarter, we delivered high-single digit currency neutral top-line growth and a robust double-digit increase in adjusted EPS ex amortization - both broadly in line with our expectations. During 2019, we grew sales to $5.1 billion, expanded our adjusted operating profit margin ex amortization, and delivered on our balance sheet deleverage commitment - a testament to our team’s focus, dedication and commitment to delivering strong results while executing our long-term strategy.

“Looking forward to 2020, our priorities are clear: drive growth and profitability in our business, substantially complete the Frutarom integration and lay the groundwork for a successful combination with DuPont Nutrition & Biosciences. With continued focus on execution, we will be well-positioned to become a global leader in innovative integrated solutions and create value for all of our stakeholders."

GUIDANCE:

Int'l Flavors & Fragrances sees FY2020 EPS of $6.20-$6.45, versus the consensus of $6.53. Int'l Flavors & Fragrances sees FY2020 revenue of $5.15-5.35 billion, versus the consensus of $5.3 billion.

For earnings history and earnings-related data on Int'l Flavors & Fragrances (IFF) click here.

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