NYSE$IFF
International Flavors & Fragra · Q1 2022 earnings
Q1 2022 earnings · · Investor relations
Briefing
IFF reported strong first quarter results, driven by broad-based growth and pricing actions offsetting inflationary pressures. Increased sales expectation and sharpened execution rigor to deliver sustainable growth.
IFF reported a strong start to 2022, with net sales of $3.23 billion, a 31% increase compared to the prior year, and adjusted operating EBITDA of $702 million, a 23% increase. The company has increased its sales expectation to include incremental pricing actions to fully recover cost exposure and remains committed to delivering its full-year profit objective.
- Reported net sales increased by 31% to $3.23 billion, driven by the merger with Nutrition & Biosciences.
- Comparable currency neutral sales increased by 13%, led by double-digit growth in Nourish, Health & Biosciences, and Pharma Solutions.
- Adjusted operating EBITDA increased by 23% to $702 million, driven by the merger with N&B.
- Reported earnings per share (EPS) was $0.96; adjusted EPS excluding amortization was $1.69 per diluted share.
Headline financials
Revenue & EPS history
IFF · Revenue · Quarterly
$3.23B
Revenue by segment
IFF · $585M total across 1 segment · Q1 2022
- Scent$585M+2.8%100.0%
Forward guidance
The Company expects 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. The Company expects to deliver comparable currency neutral sales growth of approximately 9% to 12% for the full year 2022. The Company continues to expect comparable currency neutral adjusted operating EBITDA growth for 2022 to be approximately 4% to 8%.
Tailwinds
- Sales expectation increased to $12.6B-$13.0B
- Comparable currency neutral sales growth of approximately 9%-12%
- Adjusted operating EBITDA of approximately $2.5B-$2.6B
- Comparable currency neutral adjusted operating EBITDA growth of approximately 4%-8%
- Addition of Health Wright Products acquisition
Headwinds
- Expected Microbial Control divestiture
- Foreign exchange will negatively impact sales growth by approximately 4 percentage points
- Foreign exchange will negatively impact adjusted operating EBITDA growth by approximately 5 percentage points
- Additional inflation throughout the year
- Microbial Control divestiture anticipated to be complete on July 1, 2022
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2022
-0.6%
Avg return
Earnings day
-1.0%
Avg return
5 days after
-1.3%
Avg return
30 days after
56%
38 / 68 earnings
Positive
+11.0%
Q1 2026
Best reaction
-19.5%
Q2 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +11.0% | +10.4% | +3.4% | |
| Q4 2025 | +5.9% | +7.5% | -9.6% | |
| Q3 2025 | +4.0% | +2.1% | +9.3% | |
| Q1 2025 | -7.0% | -3.6% | -2.9% | |
| Q4 2024 | -5.2% | -7.9% | -10.0% | |
| Q3 2024 | -11.5% | -6.8% | -10.1% | |
| Q2 2024 | -0.4% | +1.7% | +8.5% | |
| Q1 2024 | +8.9% | +12.2% | +13.2% | |
| Q4 2023 | -5.4% | -0.9% | +2.6% | |
| Q3 2023 | -1.5% | -1.3% | +4.1% | |
| Q2 2023 | -19.5% | -20.2% | -11.8% | |
| Q1 2023 | -6.4% | -13.8% | -15.8% | |
| Q4 2022 | -19.1% | -0.0% | -4.7% | |
| Q3 2022 | -3.6% | +6.0% | +14.0% | |
| Q2 2022 | -5.2% | -1.9% | -10.7% | |
| Q1 2022 | +2.7% | +8.2% | +8.8% | |
| Q4 2021 | +5.8% | +2.1% | -8.4% | |
| Q3 2021 | +6.6% | +6.3% | +3.2% | |
| Q2 2021 | +2.2% | +5.8% | +2.1% | |
| Q1 2021 | -5.3% | -3.6% | +0.4% | |
| Q4 2020 | +6.9% | +4.8% | +5.4% | |
| Q3 2020 | +3.6% | +3.3% | +6.1% | |
| Q2 2020 | -1.2% | -2.9% | -3.8% | |
| Q1 2020 | -0.8% | -4.6% | -0.7% | |
| Q4 2019 | -0.9% | -1.5% | -21.0% | |
| Q3 2019 | +10.4% | +9.1% | +15.0% | |
| Q2 2019 | -17.3% | -14.8% | -22.2% | |
| Q1 2019 | -3.5% | -2.7% | +0.9% | |
| Q4 2018 | -9.1% | -9.5% | -14.6% | |
| Q3 2018 | +1.9% | -0.1% | -5.3% | |
| Q2 2018 | +0.1% | -1.3% | -3.1% | |
| Q1 2018 | -11.0% | -10.2% | -11.6% | |
| Q4 2017 | +0.7% | -0.9% | -3.0% | |
| Q3 2017 | +1.1% | -1.0% | +3.7% | |
| Q2 2017 | +3.6% | +0.4% | +4.3% | |
| Q1 2017 | -7.4% | -6.1% | -1.0% | |
| Q4 2016 | +5.2% | +3.8% | +12.0% | |
| Q3 2016 | -2.0% | -8.0% | -3.1% | |
| Q2 2016 | +1.8% | +1.2% | +4.0% | |
| Q1 2016 | +6.5% | — | — | |
| Q4 2015 | -14.0% | — | — | |
| Q3 2015 | +0.4% | — | — | |
| Q2 2015 | -1.9% | — | — | |
| Q1 2015 | -5.5% | — | — | |
| Q4 2014 | +9.3% | — | — | |
| Q3 2014 | -0.7% | — | — | |
| Q2 2014 | -3.8% | — | — | |
| Q1 2014 | +2.2% | — | — | |
| Q4 2013 | +4.1% | — | — | |
| Q3 2013 | +3.8% | — | — | |
| Q2 2013 | +0.5% | — | — | |
| Q1 2013 | +2.0% | — | — | |
| Q4 2012 | +3.4% | — | — | |
| Q3 2012 | -3.0% | — | — | |
| Q2 2012 | +8.0% | — | — | |
| Q1 2012 | -1.8% | — | — | |
| Q4 2011 | -1.0% | — | — | |
| Q3 2011 | -12.2% | — | — | |
| Q2 2011 | +0.9% | — | — | |
| Q1 2010 | +1.8% | — | — | |
| Q1 2011 | +0.9% | — | — | |
| Q4 2010 | +1.8% | — | — | |
| Q3 2010 | +4.9% | — | — | |
| Q3 2009 | +4.9% | — | — | |
| Q2 2009 | +2.1% | — | — | |
| Q4 2009 | +2.1% | — | — | |
| Q4 2008 | +2.1% | — | — | |
| Q2 2010 | +2.1% | — | — |
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