International Flavors&Fragranc Stock Price, News & Analysis

IFF (NYSE: IFF) announced that CEO Frank Clyburn will participate in a fireside chat at the Barclays Global Consumer Staples Conference on Thursday, Sept. 8, 2022, at 1:30 p.m. ET. Investors can access the live webcast on the Company's website. A recorded version will also be available for those unable to listen live. IFF is a global leader in food, beverage, health, biosciences, and scent, dedicated to creating solutions that benefit people and the planet.

IFF has unveiled its new Nourish Innovation Lab in Union Beach, New Jersey, aimed at co-creating advanced food and beverage solutions with customers. This state-of-the-art facility will enhance collaboration and accelerate product development, focusing on wellness and sustainability. With a robust 160,000 square feet, the lab will integrate research and development with commercial applications, utilizing IFF’s full ingredient portfolio. The lab supports projects in various categories, including snacks and beverages, establishing itself as a key hub for innovation.

International Flavors & Fragrances reported a strong Q2 2022, with sales of $3.31 billion, up 7% year-over-year. Adjusted operating EBITDA reached $700 million, growing 3%. The company announced a 3% increase in its quarterly dividend to $0.81 per share, marking 13 consecutive years of dividend increases. However, a $120 million impairment charge related to operations in Russia was reported due to supply chain challenges. IFF reaffirmed its full-year guidance, expecting sales between $12.6 billion and $13.0 billion.

On August 3, 2022, IFF announced the opening of its new Culinary Design Center in Denmark, aimed at meeting the rising consumer demand for plant-based foods. This state-of-the-art facility is designed to expedite the process from idea to market, featuring a pilot manufacturing site and livestream capabilities for remote sensory evaluations. With projections of double-digit growth in the plant-based sector in Europe, IFF aims to leverage its scientific expertise to deliver innovative food solutions more quickly and effectively to global clientele.

On July 28, 2022, IFF announced a significant investment of $15.8 million in three innovation centers located in Latin America: Sao Paulo (Brazil), Bogota (Colombia), and Santiago (Chile). These state-of-the-art facilities enhance R&D capabilities across IFF's divisions, including Nourish, Health & Biosciences, and Scent. The new centers aim to foster collaboration and accelerate product development, serving diverse sectors such as food, beverage, and health. This investment aligns with IFF's strategy to leverage the growth potential of the Latin American market.

IFF (NYSE: IFF) will release its second quarter 2022 earnings results after the market closes on August 8, 2022. A live webcast will follow on August 9, 2022 at 9:00 a.m. ET for management to discuss the results and outlook. Investors can access the webcast and presentation on the company’s website, with a replay available for those who miss the live event. IFF is a leader in food, beverage, health, biosciences, and scent, creating innovative solutions through science and creativity.

IFF has appointed Nicolas Gebara as the new senior vice president of Commercial and Flavors for its Nourish division, effective July 1, 2022. Gebara, who has 23 years of experience at IFF, will streamline flavors and global sales to better meet consumer demands. The organizational adjustments also include new roles for Carmen Cain, Brian Brix, and Jan Bechtel, aimed at optimizing customer experience and enhancing business operations. IFF's Nourish division remains a leader in high-value categories despite current market challenges.

IFF (NYSE:IFF) has successfully completed the divestiture of its Microbial Control business unit to LANXESS. This strategic move is part of IFF's ongoing efforts to streamline its operations and focus on core areas of business, which include food, beverage, health, biosciences, and scent. The company aims to leverage science and creativity to create innovative solutions for a sustainable future.