IFF (IFF) Tops Q1 EPS by 44c

IFF (NYSE: IFF) reported Q1 EPS of $1.69, $0.44 better than the analyst estimate of $1.25. Revenue for the quarter came in at $3.23 billion versus the consensus estimate of $2.94 billion.

GUIDANCE:

IFF sees FY2022 revenue of $12.6-13 billion, versus the consensus of $11.87 billion.

• The Company expects full year 2022 sales to be approximately $12.6 billion to $13.0 billion (versus previous guidance of $12.3 billion to $12.7 billion), with an expected full year 2022 adjusted operating EBITDA of approximately $2.5 billion to $2.6 billion (no change). The Company's updated full year guidance reflects the expected Microbial Control divestiture, which is anticipated to be complete on July 1, 2022 (versus June 1, 2022 previously), as well as the addition of the Health Wright Products acquisition, which closed on April 1, 2022.
• The Company expects to deliver comparable currency neutral sales growth of approximately 9% to 12% (versus 6 to 9% previously) for the full year 2022. The Company continues to expect comparable currency neutral adjusted operating EBITDA growth for 2022 to be approximately 4% to 8% (no change).

For earnings history and earnings-related data on IFF (IFF) click here.

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