International Flavors & Fragrances Inc. (NYSE: IFF) shares scaled a new 52-week high of $104.17 on Friday before closing the session lower at $103.99.
IFF has a market capitalization of $26.6 billion. The company's shares have gained 52.6%, outperforming the industry's growth of 0.9% and the S&P 500 index's rise of 26.9%.
Image Source: Zacks Investment Research
What's Aiding International Flavors?
Demand for Flavors & Fragrances to Drive IFF's Growth: The company is well-poised to benefit from demand for a variety of consumer products containing flavors and fragrances, going forward. Anticipated growth in emerging markets will likely be a key catalyst. Consequently, International Flavors is focused on gaining a share in emerging markets.
Backed by the company's global presence, diversified business platform, broad product portfolio, and global and regional customer base, it will be able to capitalize on the expansion in flavors and fragrances markets, and deliver long-term growth. Focus on driving greater efficiencies throughout the business through costs and productivity initiatives, margin improvement, and acquisition-related synergies continue to drive profits.
International Flavors' Solid Q2 Performance Instills Confidence: The company reported adjusted earnings of $1.16 per share in second-quarter 2024, which beat the Zacks Consensus Estimate of $1.01. The bottom line improved 15% from the year-ago quarter.
Currency-neutral sales grew 7% year over year, led by growth in the Scent, Health & Biosciences and Nourish segments. The company reported volume growth in the high-single digits.
Growth Strategies Aid IFF Stock's Margins: In December 2022, International Flavors announced a new strategic and ...
