EarningsQ2 2026 Earnings Report
CH:IFF Q2 2026 EPS Results
Actual EPSCHF0.68
Consensus EPSCHF0.88
Beat/MissMissed by -CHF0.20
One Year Ago EPSCHF0.95
CH:IFF Q2 2026 Revenue Results
Actual RevenueCHF1.62B
Expected RevenueCHF2.17B
Beat/MissMissed by -CHF553.35M
YoY Revenue Growth-29.31%
Earnings Announcement Details
QuarterQ2 2026
Date08/04/2026
TimeAfter Close
Conference CallTuesday, August 4, 2026
CH:IFF Upcoming Earnings
International Flavors & Fragrances's next earnings date is estimated for November 9, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
CH:IFF Q2 2026 Earnings Call
0:00 / 0:00
Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed strong operational momentum and strategic progress: broad-based volume-driven growth across the remaining core segments (Taste, Scent, Health & Biosciences), meaningful free cash flow improvement, a major value-creating divestiture (Food Ingredients) at ~10x EV/EBITDA, and a clear plan to deleverage and return capital to shareholders. Offsetting these positives are near-term headwinds tied to the divestiture (roughly $100M of stranded costs and a working capital unwind that could be a couple hundred million), modest input-cost inflation with some pricing lag, and geopolitical/commodity-related volatility that widens guidance ranges. Management provided remediation plans and credible targets for cost elimination and deleveraging, and reiterated R&D and reinvestment commitments for the Remainco portfolio, supporting confidence in medium-term margin and cash-flow improvement.Company Guidance
Continuing Operations Top-Line and EBITDA Growth (H1 2026)
Continuing operations delivered 4% sales growth and an 8% increase in EBITDA in the first half of 2026, driven by volume growth and productivity improvements.
Strong Q2 Revenue and EBITDA (Continuing Operations)
Q2 continuing operations revenue was just under $2.0 billion, up approximately 6% year-over-year; adjusted operating EBITDA was $408 million, up 6% versus prior year.
Segment Performance — Scent, Taste and Health & Biosciences
Taste: sales up 4% to $688M and EBITDA up 6% to $124M (Asia led with double-digit growth). Health & Biosciences: sales up 5% to $601M and EBITDA up 6% to $150M. Scent: sales up 8% to $665M and EBITDA up 5% to $134M (Fragrance Ingredients grew >20% in Q2).
Free Cash Flow and Cash Generation Improvement
First half free cash flow was $378 million, an increase of $284 million year-over-year; cash flow from operations totaled $679 million and year-to-date CapEx was $301 million (~5% of sales).
Major Strategic Portfolio Move — Food Ingredients Divestiture
Announced sale of Food Ingredients to CVC valued at about $4.3 billion (~10x EV/EBITDA). Post-transaction IFF will focus on higher-growth, higher-margin Taste, Scent and Health & Biosciences and retain a 10% stake in the sold business.
Additional Portfolio Simplification
Agreement to divest nonstrategic botanical extracts, vitamins/minerals and food enhancement products (~$170M annual sales, mid-single-digit EBITDA margin) for expected proceeds of ~$75M (~10x).
Capital Allocation and Deleveraging Plan
Board authorized a $2.5 billion share repurchase program (incl. ~$400M prior authorization) with ~$500M planned for H2 2026; plan to use >$1 billion of proceeds to reduce debt. Net debt to credit-adjusted EBITDA improved to ~2.5x at the end of H1 2026 (vs. 4.5x at beginning of 2024).
Full Year 2026 Continuing Operations Guidance
Guidance: sales $7.4B–$7.6B (growth 2%–4%); EBITDA $1.53B–$1.6B (growth 4%–8%). FX expected to add ~1 percentage point to sales and ~2% to EBITDA on a full-year basis.
CH:IFF Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed