BUZZ-International Flavors & Fragrances falls after downbeat annual forecasts
ReutersFeb 19, 2025 12:43 PM
Shares of food ingredients maker International Flavors & Fragrances IFF.N down ~4% at $83.05 premarket
Company, after market close on Tuesday, forecast 2025 annual sales of between $10.6 billion and $10.9 billion, compared with estimate of $11.16 billion - data compiled by LSEG
The downbeat outlook also comes below 2024 net sales of $11.48 billion, which was flat in growth compared to the previous year, hurt by negative impacts of foreign exchange rates
IFF also sees annual adjusted operating EBITDA in the range of $2 billion to $2.15 billion, vs estimate of $2.2 billion
However, Q4 net sales rose 3% to $2.77 billion, compared with estimate of $2.68 billion, and adjusted EPS of 97 cents vs. expectations of 81 cents
IFF rose 4% in 2024
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