International Flavors&Fragranc Stock Price, News & Analysis

IFF (NYSE: IFF) has announced broad-based pricing actions across its four divisions: Nourish, Health & Biosciences, Scent, and Pharma Solutions. This decision is a direct response to rising raw material, energy, and logistics costs due to the geopolitical climate. The company will implement dynamic pricing, with adjustments based on specific product cost increases, ensuring that product prices reflect current market conditions. Account managers will communicate pricing changes to specific clients.

International Flavors & Fragrances (NYSE: IFF) has announced the impending departure of Susana Suarez Gonzalez, PhD, Executive Vice President and Chief Human Resources and Diversity & Inclusion Officer. Peter Sommers, currently VP of Global People Services, will serve as the Interim Chief Human Resources Officer. Dr. Suarez Gonzalez will assist during the transition. CEO Frank Clyburn praised her substantial contributions over six years and expressed confidence in Sommers' capabilities to continue the company’s talent and culture objectives.

IFF (NYSE: IFF) has declared a quarterly cash dividend of $0.79 per share, to be paid on April 6, 2022 to shareholders on record as of March 25, 2022. This dividend reflects IFF's commitment to returning value to its shareholders while continuing its operations in food, beverage, scent, health, and biosciences sectors. As an industry leader, the company emphasizes collaboration and innovation for sustainable solutions.

IFF (NYSE: IFF) has announced its agreement to acquire Health Wright Products, LLC (HWP), a prominent player in dietary supplement formulation and capsule manufacturing. HWP, based in Clackamas, Oregon, generated approximately $100 million in revenue in 2021 and employs over 225 people. This acquisition aims to enhance IFF's Health & Biosciences division by integrating HWP's capabilities for custom formulations and packaging, driving innovation in probiotic products. The transaction is expected to close in Q1 2022, pending customary conditions and regulatory approvals.

IFF (NYSE: IFF) has announced that Executive Vice President and CFO Glenn Richter will speak at the Consumer Analyst Group of New York's annual conference on February 24, 2022. His pre-recorded presentation is set to begin at 3:00 p.m. ET. A replay of the session will be available later on ir.iff.com. IFF is a leader in the food, beverage, scent, health, and biosciences sectors, creating solutions that promote a better world.

IFF (NYSE: IFF) has appointed Barry A. Bruno as an independent director on its Board, effective February 8, 2022. Bruno, currently the Chief Marketing Officer at Church & Dwight, brings extensive leadership experience in global consumer brands. The Board will now have 14 members following this appointment, which follows a cooperation agreement with Icahn Capital LP, which recommended Bruno. His addition is expected to enhance IFF's strategic direction amid ongoing market opportunities.

International Flavors & Fragrances (IFF) reported strong financial results for Q4 and full year 2021, with Q4 sales reaching $3.0 billion, a 139% increase year-over-year. The full year sales were $11.66 billion, up 129%. Adjusted EPS for Q4 was $1.10, while full year adjusted EPS was $5.63. Despite inflationary pressures affecting margins, the company achieved double-digit growth across all business segments. IFF expects 2022 sales between $12.3 billion and $12.7 billion, with adjusted operating EBITDA of $2.5 to $2.6 billion.

IFF (NYSE:IFF) will release its fourth quarter and full year 2021 earnings on February 9, 2022, after market close. A live webcast for discussion of results and outlook will follow on February 10, 2022, at 9:00 a.m. ET. Investors can access the webcast and presentation on the Company’s website. IFF is a leader in food, beverage, scent, and biosciences, offering innovative solutions globally.

On February 14, 2022, IFF appointed Frank Clyburn as CEO, succeeding Andreas Fibig. Clyburn, previously President of Human Health at Merck, boasts extensive experience in global business operations and leadership. His tenure at Merck involved full P&L responsibility for a $48 billion business and significant achievements in oncology. The transition comes alongside the separation of the Chairman and CEO roles, with Dale Morrison becoming non-executive Chairman. This change aims to enhance IFF’s strategic execution, driven by Clyburn's expertise in customer relations and operational discipline.