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![INTERNATIONAL FLAVORS & FRAGRANCES INC [IFF] reports annual net loss of $2,563,000,000.0](/_next/image?url=https%3A%2F%2F10kinfo-appdata.s3.us-west-2.amazonaws.com%2Fedgar0105%2FCompanyLogos%2FUS%2FIFF.png&w=1200&q=75)
INTERNATIONAL FLAVORS & FRAGRANCES INC [IFF] has reported a net loss of $2,563,000,000.0 for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $11.5 billion
Based in NEW YORK, New York, INTERNATIONAL FLAVORS & FRAGRANCES INC operates in the MANUFACTURING sector.
The income statement for the fiscal year ended December 31, 2023, compared to the same period in the previous years, shows the following key figures converted to millions:
- Net sales for 2023 amounted to $11.479 million, compared to $12.440 million in 2022 and $11.656 million in 2021.
- Cost of goods sold in 2023 totaled $7.798 million, down from $8.289 million in 2022 and $7.921 million in 2021.
- Gross profit for 2023 was reported at $3.681 million, a decrease from $4.151 million in 2022 and $3.735 million in 2021.
- The net loss for 2023 was $2.563 million, while in 2022, it was $1.864 million, and in 2021, there was a net income of $279 million.
- The net loss per share for basic and diluted in 2023 was ($10.05), compared to ($7.32) in 2022 and $1.11 in 2021.
Notably, the company experienced a decline in net sales, gross profit, and a significant increase in the net loss in the fiscal year 2023 compared to the previous years. The cost of goods sold also decreased, contributing to the overall performance of the company during this period.
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