International Flavors&Fragranc Stock Price, News & Analysis

IFF (NYSE: IFF) will present at the Consumer Analyst Group of New York (CAGNY) conference in Boca Raton, Florida, on Thursday, Feb. 23, at 1:00 PM ET. The event will be accessible via live webcast and slide presentation on the company's website.

Investors can also access a recorded version of the presentation afterward. IFF is a leader in food, beverage, scent, health, and biosciences, focusing on innovative solutions that enhance quality of life globally. More information about IFF can be found on their website at ir.iff.com.

International Flavors & Fragrances reported Q4 2022 net sales of $2.84 billion, a 6% decline year-over-year, but currency neutral sales rose 4%. The company experienced a loss before taxes of $5 million, with adjusted operating EBITDA at $441 million, reflecting a 15.5% margin. For the full year, sales reached $12.44 billion, marking a 7% increase, although a reported loss of $1.63 billion was noted. Management aims for around $12.5 billion in sales for 2023, with flat adjusted operating EBITDA growth. The anticipated divestiture of Savory Solutions is expected to impact these figures.

International Flavors & Fragrances (IFF) announced the promotion of three perfumers, Juliette Karagueuzoglou, Nicolas Beaulieu, and Jean-Christophe Hérault, to vice president perfumers. This title is awarded for exceptional creativity and significant contributions to the fragrance industry. The newly promoted individuals have a track record of creating iconic fragrances and participating in strategic innovation projects, focusing on natural ingredients and new technologies. Their leadership will continue to shape the future of perfumery at IFF, emphasizing mentorship and the application of both science and creativity for industry advancement.

IFF (NYSE: IFF) has announced significant changes to its Board of Directors, aiming to align with best-in-class corporate governance standards. Effective from the 2023 Annual Shareholder Meeting, Roger W. Ferguson, Jr. will succeed Dale F. Morrison as Chair following Morrison's retirement for health reasons. Newly appointed directors include Mark J. Costa, Dawn Willoughby, and Gary Hu, while Michael Ducker, Ilene Gordon, and Kare Schultz will retire. The Board will be reduced to ten members by the upcoming meeting, reflecting a strategic transformation as IFF continues to enhance leadership and governance.

IFF announced the appointment of Gary Hu to its Board of Directors effective February 1, 2023. Hu is a portfolio manager at Icahn Capital and will serve on the Audit and Transaction Committees. This appointment follows a cooperation agreement with Icahn Capital.

Dale Morrison, IFF’s Board chairman, expressed confidence that Hu's experience will enhance the board's efforts to drive shareholder value. Hu stated his enthusiasm to contribute to IFF’s strategic goals during a pivotal growth phase. Barry Bruno will continue as an independent director, while Icahn Capital will adhere to standard provisions in the cooperation agreement.

IFF (NYSE: IFF) has appointed Dawn Willoughby as an independent director on its Board, effective February 1, 2023. Willoughby, the former COO of The Clorox Company, is recognized for driving sustainable growth in consumer products. Her experience spans various leadership roles, enhancing IFF's commitment to innovation and customer focus. Dale Morrison, chair of IFF’s Board, welcomes her as part of the company’s strategic evolution following plans announced during December’s Investor Day. Willoughby aims to leverage IFF’s offerings to unlock future growth for stakeholders.

IFF (NYSE: IFF) will announce its fourth quarter and full year 2022 earnings results post-market on February 8, 2023. A live webcast for discussing the results and future outlook will take place on February 9, 2023, at 9:00 a.m. ET. Investors can join via the company's website, with a recorded version available afterward.

As a leader in food, beverage, health, biosciences, and scent, IFF combines science and creativity to deliver essential solutions aimed at sustainability and innovation.

Danisco Animal Nutrition & Health, a business unit of IFF, has received approval from the Canadian Food Inspection Agency (CFIA) for its feed solutions, Enviva® PRO and Syncra® SWI, enhancing poultry and swine production in Canada. These products aim to deliver year-round consistent animal performance. Enviva® PRO is a multi-strain microbial product enhancing feed conversion in various birds, while Syncra® SWI combines a microbial product and protease enzyme to improve digestibility in pigs. This approval allows Canadian producers to leverage the same performance benefits that U.S. counterparts have experienced.

LMR Naturals by IFF has developed a reliable methodology to calculate the carbon footprint of natural fragrance ingredients, collaborating with Carbone 4 to conduct a comprehensive Greenhouse Gas study. The study highlights that 95% of LMR's carbon footprint is attributed to Scope 3 emissions, emphasizing the need for a holistic approach to sustainability. The methodology allows customers to assess the carbon impact of their fragrance formulations, identifying high-impact ingredients and opportunities for GHG reductions through improved production processes and sustainable practices.