IFF beats quarterly results estimates on resilient demand
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International Flavors and Fragrances (IFF) reported a third-quarter adjusted profit of $1.05 per share, surpassing analysts' expectations of $1.01. The company's shares rose 3% post-announcement. IFF's resilience amid consumer spending slowdowns is attributed to steady demand for food and personal care ingredients, despite a decline in some beauty and food categories. The company is optimizing its portfolio and maintaining its annual sales forecast of $10.6 billion to $10.9 billion, even as quarterly net sales fell 8% to $2.69 billion.
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