NYSE$IFF
International Flavors & Fragra · Q3 2022 earnings
Q3 2022 earnings · · Investor relations
Briefing
IFF's financial performance was reported for Q3 2022, showing mixed results amidst a challenging operating environment.
IFF reported flat sales compared to the prior-year period, but experienced a significant loss before taxes due to a goodwill impairment charge. Adjusted operating EBITDA increased slightly on a currency neutral basis, driven by pricing actions and productivity gains. The company is proceeding cautiously due to challenging market conditions.
- Reported net sales were $3.06 billion, flat versus the prior-year period.
- Loss before taxes was $(2.04) billion, impacted by a $2.25 billion goodwill impairment charge.
- Adjusted EPS excluding amortization was $1.36 per diluted share.
- Free cash flow totaled $(155) million, impacted by higher inventory value.
Headline financials
Revenue & EPS history
IFF · Revenue · Quarterly
$3.06B
Revenue by segment
IFF · $591M total across 1 segment · Q3 2022
- Scent$591M+1.9%100.0%
Forward guidance
The Company expects full year 2022 sales to be approximately $12.4 billion to $12.5 billion, with an expected full year 2022 adjusted operating EBITDA to be in line and at the low-end of the Company's previous $2.5 billion to $2.6 billion range.
Tailwinds
- Strong sales momentum
- Steady advancements in profitability
- Overall improvement in leverage profile
- Advancing innovation efforts to support customers
- Driving greater cost efficiencies
Headwinds
- Challenging operating environment
- Unfavorable impact from foreign exchange
- Market conditions have become more challenging
- Lower business projections due to adverse macroeconomic impacts on volume
- Continued cost inflation
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 Q3 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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