WASHINGTON (dpa-AFX) - International Flavors & Fragrances Inc. (IFF) on Tuesday reported a third-quarter loss, compared to a profit in the year-ago period, primarily due to a $236 million loss on assets classified as held for sale, alongside higher selling and administrative expenses. The company also raised the lower ends of its full-year 2026 sales guidance ranges.
Net loss attributable for the quarter was $55 million, or $0.22 per share, compared with net income of $40 million, or $0.16 per share, a year earlier.
Net sales increased 4 percent to $1.94 billion from $1.87 billion. The company recorded a $236 million loss on assets classified as held for sale, compared with no such charge in the prior-year quarter.
Adjusted earnings per share excluding amortization increased to $0.83 from $0.76.
Among segments, Taste sales increased 4 percent to $687 million, Health & Biosciences sales rose 1 percent to $566 million, and Scent sales grew 6 percent to $689 million.
For full-year 2026, IFF now expects sales of $7.5 billion to $7.6 billion, compared with its previous range of $7.4 billion to $7.6 billion.
The company also recently completed a $500 million accelerated share repurchase program and said the planned Food Ingredients divestiture remains on track to close by the end of the second quarter of 2027.
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