Quarterly ResultMay 5, 2026, 04:28 PM
IFF Q1 Net Income $170M vs $(1,017)M Loss YoY; Divests SCL Business
AI Summary
INTERNATIONAL FLAVORS & FRAGRANCES INC (IFF) reported a net income of $170 million for the first quarter of 2026, a substantial turnaround from a net loss of $1,017 million in the same period last year, which included a significant goodwill impairment. However, net sales for Q1 2026 decreased to $2,741 million from $2,843 million year-over-year. The company completed the divestiture of its Soy Crush, Concentrates & Lecithin business for $105 million in cash proceeds and repurchased $35 million of common stock under its authorized program.
Key Highlights
- Net income for Q1 2026 was $170 million, a significant improvement from a $(1,017) million loss in Q1 2025.
- Net sales decreased to $2,741 million in Q1 2026 from $2,843 million in Q1 2025.
- Diluted EPS was $0.66 in Q1 2026, up from $(3.98) in Q1 2025.
- Completed divestiture of Soy Crush, Concentrates & Lecithin business for $105 million cash proceeds.
- Repurchased 481,000 shares for $35 million under a $500 million share repurchase program.
- Net cash provided by operating activities rose to $257 million in Q1 2026 from $127 million in Q1 2025.
- Taste segment net sales were $656 million and Food Ingredients net sales were $839 million in Q1 2026.
- Incurred $6 million in restructuring and other charges in Q1 2026 for the IFF Productivity Program.