IFF said reported sales for Q1 2024 were $2.90 billion, down 4% from the prior-year period, with adjusted operating EBITDA of $578 million and adjusted operating EBITDA margin of 19.9%.

1. 01

   IFF said reported sales for Q1 2024 were $2.90 billion, down 4% from the prior-year period, with adjusted operating EBITDA of $578 million and adjusted operating EBITDA margin of 19.9%.

2. 02

   The company said that, excluding the impact of divestitures and acquisitions, currency neutral sales rose 5% from the prior-year period and adjusted operating EBITDA improved 20%. It cited Scent, Health & Biosciences and Nourish as the drivers of the sales growth.

3. 03

   IFF reported income before taxes of $115 million and diluted earnings per share of $0.23 for Q1 2024. The company said operating cash flow was $99 million and free cash flow was $(19) million.

4. 04

   The company said it expects full-year 2024 sales to trend toward the higher end of its previously given range of $10.8 billion to $11.1 billion, and adjusted operating EBITDA to trend toward the higher end of its range of $1.9 billion to $2.1 billion. It said it expects foreign exchange to have an adverse impact of 3% to 4% on sales growth, compared with 0 to 1% previously.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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