NYSE$IFF

International Flavors & Fragra · Q4 2020 earnings

Q4 2020 earnings · · Investor relations

Briefing

IFF ended 2020 with improved Q4 sales momentum and started 2021 solid.

IFF reported a slight decrease in net sales for the fourth quarter, but saw growth excluding the impact of an additional week of sales in the previous year. The company's performance reflects the diversity of its portfolio and the essential nature of its products.

  • Reported net sales for the fourth quarter totaled $1.27 billion, a decrease of 1% from $1.28 billion in 2019.
  • Reported operating profit for the fourth quarter was $100.6 million versus $116.8 million reported in 2019.
  • Reported earnings per share (EPS) for the fourth quarter was $0.57 per diluted share versus $0.70 per diluted share reported in 2019.
  • IFF completed its transformational combination to become a new industry leader.

Headline financials

Total Revenue

$1.27B

Previous: $1.28B-1.1%
EPS (adj)

$1.32

Previous: $1.46-9.6%
Operating EBITDA Margin

8.0%

Previous: 9.0%-11.1%
Capital Expenditures

$67.7M

Previous: $75.5M-10.3%
Free Cash Flow

$231M

Previous: $240M-3.8%
Net Income

$66.6M

Previous: $80.4M-17.2%
Operating Income

$101M

Previous: $117M-13.9%
Gross Profit

$514M

Previous: $502M+2.3%
Cash & Equivalents

$657M

Previous: $624M+5.3%
Total Assets

$13.6B

Previous: $13.3B+1.6%
Stock-Based Comp

$8.62M

Previous: $8.06M+7.0%

Revenue & EPS history

IFF · Revenue · Quarterly

$1.27B

Q4 2020-1.1%vs Q4 2019
Beat estimate in 14 of 16 quarters(88%)
ActualEstimate

Revenue by segment

IFF · $1.27B total across 2 segments · Q4 2020

  • Taste
    $766M+78.2%
  • Scent
    $504M+5.4%

Forward guidance

For the full year 2021, the Company expects: Pro-forma sales to be approximately $11.5 billion, including approximately $507 million in sales for N&B in January 2021 and Pro-forma adjusted EBITDA margin to be approximately 23.2%

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 Q4 2020

Historical avgQ4 2020

-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

Earnings price reactions
QuarterReport dateReaction (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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