International Flavors: Q1 Earnings Snapshot
By AP News
Published - May 08, 2023, 04:58 PM ET
Last Updated - Jun 21, 2023, 09:53 PM EDT
NEW YORK (AP) — NEW YORK (AP) — International Flavors & Fragrances Inc. (IFF) on Monday reported a loss of $9 million in its first quarter.
On a per-share basis, the New York-based company said it had a loss of 4 cents. Earnings, adjusted for non-recurring costs, were 87 cents per share.
The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 89 cents per share.
The ingredients producer for food, cosmetics and consumer products industries posted revenue of $3.03 billion in the period, beating Street forecasts. Four analysts surveyed by Zacks expected $3.02 billion.
