NYSE$IFF
International Flavors & Fragra · Q2 2021 earnings
Q2 2021 earnings · · Investor relations
Briefing
IFF achieved strong double-digit sales growth and raised its full-year 2021 sales outlook.
IFF reported a strong second quarter performance with double-digit sales growth and a solid improvement in overall profitability. The company's synergy realization is on track, and the overall business performance underscores the strength and diversity of its portfolio.
- Reported net sales for the second quarter were $3.09 billion, an increase of 158% compared to the prior year period.
- Adjusted operating EBITDA for the second quarter was $679 million, an increase of 184% from $239 million in 2020.
- Reported earnings per share (EPS) for the second quarter was $0.11. Adjusted EPS excluding amortization was $1.50 per diluted share.
- Cash flow from operations for the second quarter was strong, increasing 235% versus year-ago period, to $698 million, and free cash flow totaled $533 million.
Headline financials
Revenue & EPS history
IFF · Revenue · Quarterly
$3.09B
Revenue by segment
IFF · $550M total across 1 segment · Q2 2021
- Scent$550M+22.1%100.0%
Forward guidance
The Company updates 2021 financial guidance on a combined basis and now expects to deliver approximately 7% growth on a combined company basis.
Tailwinds
- Increased sales expectation for the full year, and now expect to deliver approximately 7% growth on a combined company basis.
- Successfully increasing prices over time.
- Driving expense reductions to support long-term profitability.
- Investing in incremental capacity.
- Strategically increasing inventory levels in high value businesses to ensure strong top-line momentum while improving returns moving forward.
Headwinds
- Some short-term pressure in 2021.
- Margin in the second quarter was adversely impacted by higher raw material and logistics costs.
- Higher energy costs.
- Lower manufacturing utilization as a result of weather-related raw material shortages.
- Inflationary environment
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 Q2 2021
-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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