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International Flavors & Fragrances (IFF) Q3 2026 Earnings Report

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CH:IFF Q3 2026 EPS Results

Actual EPS
CHF 0.68
Consensus EPS
CHF 0.67
Beat/Miss
Beat by +CHF 0.01
One Year Ago EPS
CHF 0.86

CH:IFF Q3 2026 Revenue Results

Actual Revenue
CHF 1.59B
Expected Revenue
CHF 1.56B
Beat/Miss
Beat by +CHF 27.56M
YoY Revenue Growth
-27.91%

Earnings Announcement Details

Quarter
Q3 2026
Date
11/03/2026
Time
After Close
Conference Call
Tuesday, November 3, 2026
CH:IFF Upcoming Earnings

International Flavors & Fragrances's next earnings date is estimated for February 10, 2027, based on past reporting schedules.

Q3 2026 Earnings Call Audio

CH:IFF Q3 2026 Earnings Call
0:00 / 0:00

Q3 2026 Earnings Slide Deck

Q3 2026 Earnings Call Summary

Q3 2026
Earnings Call Date:Nov 03, 2026|% Change Since:―|
Earnings Call Sentiment|Positive

The call was predominantly positive. IFF reported broad-based third-quarter growth, improved margins and cash flow, raised the lower ends of its full-year guidance ranges, advanced its portfolio transformation, and highlighted strong innovation and customer wins. The main challenges were soft Health markets, fourth-quarter profitability pressure, input-cost inflation, pricing recovery timing, modestly higher leverage, and geopolitical uncertainty in the Middle East.

Company Guidance

The company now expects full-year sales of approximately $7.5 billion to $7.6 billion and adjusted operating EBITDA of $1.55 billion to $1.6 billion; in Q4, it expects continued sales growth driven by volume increases, with sales around that 3%ish number plus or minus, while Q4 profitability margin is expected to moderate sequentially, partly due to seasonality where Q4 margin is the lowest of the year and due to higher costs and investments, specifically in Health & Biosciences. Q4 net price to input costs is expected to be unfavorable, with the biggest gap in Q1 and an improvement each quarter as the company progresses through 2027; the 3%ish number for 2027 raw material inflation feels right. In a normalized environment, the 4-6% top line range is viewed as doable for scent, taste, and Health & Biosciences, while biosciences is expected to continue to grow high single digits.

  • Broad-Based Third-Quarter GrowthIFF delivered year-over-year growth across every business segment in the third quarter, with revenue of just under $2 billion, up roughly 5% on a comparable currency-neutral basis. Growth was led by mid-single-digit increases in Scent and Taste, while Health & Biosciences delivered low-single-digit growth.
  • Nine-Month Sales and EBITDA GrowthFor the first nine months of 2026, sales grew 4% and EBITDA increased 7% on a currency-neutral basis, producing a 50-basis-point improvement in adjusted operating EBITDA margin.
  • Improved Third-Quarter ProfitabilityThird-quarter EBITDA was $403 million, up 6%, while EBITDA margin increased 20 basis points to 20.8%. Management attributed the improvement to volume contributions and productivity.
  • Strong Taste Segment PerformanceTaste sales increased 6% to $687 million, with growth across all regions. Greater Asia grew double digits, LATAM was up high single digits, EMEA increased mid single digits, and North America grew low single digits. Taste EBITDA increased 7% to $128 million, driven by volume growth.
  • Strong Scent Segment PerformanceScent sales grew 6% to $689 million. Consumer Fragrance increased high single digits, while Fragrance Ingredients and Fine Fragrance each delivered mid-single-digit growth. Scent EBITDA increased 10% to $139 million, primarily driven by volume growth.
  • Health and Biosciences Growth Despite Health WeaknessHealth and Biosciences sales grew 1% to $566 million, as mid-single-digit growth in Food Biosciences and Grain Processing more than offset a decline in Health. Segment EBITDA increased 2% to $139 million, driven by volume growth and some favorability in net price to input cost.
  • Significant Free Cash Flow ImprovementFree cash flow for the first nine months was $371 million, an increase of $245 million versus last year, supported by improved net working capital. Cash flow from operations was $820 million, and year-to-date CapEx was $449 million, or approximately 5.4% of sales.
  • Capital Returned to ShareholdersIFF completed its $500 million accelerated share repurchase, repurchasing approximately 5.8 million shares, or approximately 2.3% of shares outstanding. During the first nine months, the company returned $306 million through dividends and $584 million through share repurchases.
  • Raised Full-Year Guidance Range FloorsBased on year-to-date performance and continued volume momentum, IFF raised the low end of both full-year guidance ranges. The company now expects sales of approximately $7.5 billion to $7.6 billion and adjusted operating EBITDA of $1.55 billion to $1.6 billion.
  • Progress on Portfolio TransformationThe separation of the Food Ingredients business, which IFF agreed to sell to CBC Capital Partners for about $4.3 billion, is progressing well and remains on track to close by the end of the first half of 2027. IFF also completed the sale of soy crush concentrates and lecithin and agreed to divest its nonstrategic botanical extracts, vitamins, minerals, and food enhancement businesses, expected to close by year end.
  • Ongoing Investment in Innovation and GrowthIFF continues to invest in its highest-growth opportunities. Recent milestones include opening a vanilla innovation center in Madagascar, launching a home care application lab in Brazil, expanding fermentation-based enzyme capabilities in Argentina, and planning to launch a scent creative center in Mumbai in December.
  • New Product and Customer WinsManagement cited new wins across global, regional, and local customers in Taste, Consumer Fragrance, Fine Fragrance, and Fragrance Ingredients. The company said many new wins are coming at the base or higher margins, while commercial and innovation pipelines are growing.
  • Progress in Health InnovationIFF launched GUT-X, its first new Health product in quite a few years, and reported that customer interest has been very strong. The company is also strengthening commercial capabilities, diversifying its customer base, improving product positioning around clinically proven benefits, and expanding its innovation pipeline.
  • GLP-1 and Nutrition-Related OpportunitiesIFF said it leaned into GLP-1-related opportunities across Taste, Food Biosciences, and Food Ingredients. Demand for higher-protein products that taste great, along with greater fiber and lower sugar and sodium, was described as a broader trend. Management said Taste and Food Biosciences have grown consistently ahead of the market as a result of this focus.
  • Fragrance Innovation and Regional WinsFine Fragrance recorded new wins in Europe and North America, while Consumer Fragrance benefited from new wins with global and regional customers. The U.S. and Europe were particularly strong, and management said the Middle East showed stabilization and some indications of growth.
  • Expected Biosciences GrowthManagement expects Biosciences to continue growing high single digits, with solid growth across the enzymes portfolio, while continuing to work on the Health turnaround.
  • Stranded-Cost Reduction PlanIFF is actively working to eliminate approximately two-thirds of the identified stranded costs within the first 12 months after the Food Ingredients transaction closes. Actions include renegotiating third-party contracts, transferring work to the GBS organization, implementing technology, and adjusting the organization for the remaining IFF.
  • Working-Capital and Employee Engagement ProgressManagement reported strong improvements across core working-capital elements and said the company is focused on improving payment terms and cash generation after the Food Ingredients separation. Employee engagement scores have increased consistently over the last three years and are now described as very high.

CH:IFF Earnings History

CH:IFF earnings history
Report DateFiscal QuarterForecast / EPSLast Year's EPSEPS YoY ChangePress Release
Feb 10, 20272026 (Q4)0.52-0.66――
Nov 03, 20262026 (Q3)0.670.680.86-20.95% (-0.18)
Aug 04, 20262026 (Q2)0.870.670.94-28.70% (-0.27)
May 05, 20262026 (Q1)0.881.020.984.17% (+0.04)
Feb 11, 20262025 (Q4)0.680.660.8-17.53% (-0.14)
Nov 04, 20252025 (Q3)0.830.860.850.96% (+0.01)
Aug 05, 20252025 (Q2)0.920.940.95-0.86% (-0.01)
May 06, 20252025 (Q1)0.930.980.936.19% (+0.06)
Feb 18, 20252024 (Q4)0.670.800.5934.72% (+0.20)
Nov 05, 20242024 (Q3)0.880.850.7316.85% (+0.12)

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