IFF Q2 2022 Earnings Report
Key Takeaways
IFF reported a 7% increase in net sales to $3.31 billion for the second quarter of 2022. Adjusted operating EBITDA increased by 3% to $700 million. The company reaffirms its full-year 2022 financial guidance.
Reported net sales increased by 7% to $3.31 billion, with currency neutral sales up by 11%.
Adjusted operating EBITDA rose by 3% to $700 million, driven by pricing actions and productivity gains.
Reported earnings per share (EPS) was $0.43, and adjusted EPS excluding amortization was $1.54 per diluted share.
The company reaffirms full year 2022 financial guidance, expecting sales between $12.6 billion and $13.0 billion.
IFF
IFF
IFF Revenue by Segment
Forward Guidance
The Company reaffirms full year 2022 financial guidance. The Company continues to expect full year 2022 sales to be approximately $12.6 billion to $13.0 billion, with an expected full year 2022 adjusted operating EBITDA of approximately $2.5 billion to $2.6 billion.
Positive Outlook
- Sales to be approximately $12.6 billion to $13.0 billion
- Adjusted operating EBITDA of approximately $2.5 billion to $2.6 billion
- Comparable currency neutral sales growth of approximately 9% to 12%
- Comparable currency neutral adjusted operating EBITDA growth to be approximately 4% to 8%
Challenges Ahead
- Foreign exchange will negatively impact sales growth in 2022 by approximately 5 percentage points
- Foreign exchange will negatively impact adjusted operating EBITDA growth by approximately 6 percentage points