International Flavors & Fragrances Tops Q3 Estimates, Discloses Continuation Of Cooperation Agreement With Icahn Capital
Portfolio Pulse from Lekha Gupta
International Flavors & Fragrances Inc (IFF) reported Q3 FY23 revenue of $2.82 billion, beating the consensus of $2.77 billion. However, the revenue was down 8% Y/Y. The company also declared a quarterly cash dividend per share of $0.81. IFF reiterated its FY23 sales outlook at $11.3 billion-$11.6 billion. The company also disclosed the continuation of the cooperation agreement with Icahn Capital.
November 07, 2023 | 11:36 am
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NEUTRAL IMPACT
IFF reported better than expected Q3 FY23 revenue and declared a dividend, which could be positive for the stock. However, the Y/Y revenue drop and the continuation of the cooperation agreement with Icahn Capital could have mixed impacts.
IFF's better than expected Q3 revenue and dividend declaration are positive for the stock. However, the Y/Y revenue drop indicates some underlying issues, which could negatively impact the stock. The continuation of the cooperation agreement with Icahn Capital could have mixed impacts depending on the market's perception of the partnership.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100