Analyst Consensus ?
ConsensusBuy34 ratings
Bullish2573.5%
Neutral823.5%
Bearish13.0%
International Flavors & Fragrances Inc. · IFF · FY2025 Q3 · Calendar Q4 2025
IFF: Flat sales, stronger EBITDA, guidance reaffirmed
The quarter provides partial support for a durable-improvement thesis: margin expansion, innovation partnerships, and higher-margin growth initiatives were constructive, but flat sales and weaker end-market demand leave the top-line recovery unproven.
Reported After market closeNYSEBasic Materials
$21.04B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$1.05
Consensus $1.02
EPS surprise
+2.9%
Reported versus consensus
Reported revenue
$2.69B
Consensus $2.63B
Revenue surprise
+2.3%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
+4.1%
Event window
SPY move
+0.3%
Same window
Abnormal move
+3.7%
Stock minus SPY
Volume
1.9×
Versus trailing sessions
Subsequent drift
+3.9%
Up to 20 sessions
IFFSPY benchmark
Ask FN2 about IFF FY2025 Q3
Transcript, numbers and history already loaded
Why did IFF rise 4.1% after beating EPS estimates in FY2025 Q3?What changed in IFF's guidance and outlook in FY2025 Q3?Give me the bull and bear case for IFF after FY2025 Q3 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior quarter, the supplied analysis shifts the focus from broad sales and EBITDA growth to flat Q3 sales, continued EBITDA-led margin expansion, and a more detailed set of innovation partnerships and capacity investments. Management maintained guidance while identifying Health & Biosciences North America, Food Ingredients, cash flow, and macro conditions as key watchpoints.
Guidance delta
Maintained: FY2025 revenue guidance of $10.6 billion-$10.9 billion and adjusted EBITDA guidance of $2.0 billion-$2.15 billion were reaffirmed.
Key takeaways
- Q3 sales were flat while adjusted EBITDA grew 7%, with a 130-basis-point margin improvement.
- Management highlighted DEB and ENVIROCAP innovation, Fine Fragrance wins, and capacity expansion in higher-margin TAURA fruit inclusions.
- The company expects Health & Biosciences North America to rebound in 2026-27, while acknowledging softer demand and macro pressure.
Management priorities
- Advance DEB and ENVIROCAP commercialization through partnerships and planned capacity.
- Expand higher-margin innovation and fragrance capabilities, including the Dubai and Florida centers.
- Maintain disciplined capital allocation, portfolio optimization, and share repurchases.
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$82.42Current
$67Low
$98.56Average
$170High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 4, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Barclays | Overweight | Overweight | Maintain | Aug 7, 2026 |
| UBS | Neutral | Neutral | Maintain | Aug 6, 2026 |
| Benchmark | Buy | Buy | Maintain | Aug 6, 2026 |
| Morgan Stanley | Overweight | Overweight | Maintain | Jul 1, 2026 |
| Argus Research | Buy | Buy | Maintain | Jun 30, 2026 |
| Citigroup | Buy | Buy | Maintain | Jun 24, 2026 |
| Oppenheimer | Outperform | Outperform | Maintain | May 7, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | May 7, 2026 |
| Mizuho | Outperform | Outperform | Maintain | Feb 17, 2026 |
| Wells Fargo | Overweight | Overweight | Maintain | Feb 13, 2026 |
| B of A Securities | Buy | Buy | Maintain | Oct 14, 2025 |
| Wolfe Research | Peer Perform | Underperform | Upgrade | Sep 8, 2025 |
| Tigress Financial | Buy | Buy | Maintain | Aug 26, 2025 |
| Baird | Outperform | Outperform | Maintain | May 8, 2025 |
| Stifel | Buy | Buy | Maintain | Apr 10, 2025 |
| Vertical Research | Buy | Hold | Upgrade | Nov 7, 2024 |
| Deutsche Bank | Buy | Buy | Maintain | Mar 20, 2024 |
| Jefferies | Buy | Hold | Upgrade | Jan 12, 2024 |
| Goldman Sachs | Neutral | Neutral | Maintain | Aug 10, 2023 |
| Credit Suisse | Outperform | Outperform | Maintain | Aug 8, 2023 |
| Societe Generale | Buy | Buy | Maintain | Nov 9, 2022 |
| Berenberg | Hold | Buy | Downgrade | Aug 24, 2022 |
| Exane BNP Paribas | Neutral | Underperform | Upgrade | Jan 12, 2021 |
| Stephens & Co. | Overweight | Overweight | Maintain | Jul 10, 2020 |
| CFRA | Buy | Buy | Maintain | May 13, 2020 |
| Stifel Nicolaus | Hold | Hold | Maintain | Dec 16, 2019 |
| Citi | Buy | Neutral | Upgrade | Nov 22, 2019 |
| KeyBanc | Overweight | Overweight | Maintain | Aug 8, 2019 |
| Raymond James | Underperform | Market Perform | Downgrade | Nov 16, 2018 |
| Argus | Hold | Buy | Downgrade | Jun 8, 2018 |
| Evercore ISI Group | Outperform | In Line | Upgrade | Jan 17, 2018 |
| Gabelli & Co. | Hold | Buy | Downgrade | Aug 10, 2016 |
| Edward Jones | Buy | Buy | Maintain | Oct 1, 2015 |
| Janney Capital | Buy | Buy | Maintain | Nov 25, 2013 |
Named analyst price targets
Upside is calculated against the persisted current price $82.42. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Barclays | Analyst unavailable | $96 | $84.55 | +16.5% | Aug 7, 2026 |
| Robert W. Baird | Ghansham Panjabi | $100 | $85.61 | +21.3% | Aug 6, 2026 |
| UBS | Joshua Spector | $91 | $85.92 | +10.4% | Aug 6, 2026 |
| Oppenheimer | Analyst unavailable | $95 | $85.87 | +15.3% | Aug 6, 2026 |
| Vertical Research | Analyst unavailable | $93 | $85.63 | +12.8% | Aug 6, 2026 |
| Morgan Stanley | Analyst unavailable | $95 | $80.02 | +15.3% | Jul 1, 2026 |
| Oppenheimer | Analyst unavailable | $90 | $82.93 | +9.2% | May 7, 2026 |
| Barclays | Lauren Lieberman | $90 | $82.93 | +9.2% | May 7, 2026 |
| Barclays | Lauren Lieberman | $80 | $72.1 | -2.9% | Apr 14, 2026 |
| UBS | Joshua Spector | $75 | $73.13 | -9.0% | Apr 9, 2026 |
| Deutsche Bank | Analyst unavailable | $95 | $82.18 | +15.3% | Feb 17, 2026 |
| Mizuho Securities | Analyst unavailable | $92 | $83 | +11.6% | Feb 17, 2026 |
| Morgan Stanley | Lisa De Neve | $93 | $82.43 | +12.8% | Feb 13, 2026 |
| Robert W. Baird | Analyst unavailable | $90 | $82.44 | +9.2% | Feb 13, 2026 |
| UBS | Joshua Spector | $85 | $81.72 | +3.1% | Feb 13, 2026 |
| Oppenheimer | Analyst unavailable | $97 | $81.14 | +17.7% | Feb 13, 2026 |
| Barclays | Analyst unavailable | $91 | $81.5 | +10.4% | Feb 13, 2026 |
| Mizuho Securities | John Roberts | $85 | $76.97 | +3.1% | Feb 12, 2026 |
| Argus Research | Analyst unavailable | $80 | $72.78 | -2.9% | Jan 22, 2026 |
| Barclays | Lauren Lieberman | $78 | $70.78 | -5.4% | Jan 16, 2026 |
| UBS | Analyst unavailable | $71 | $69.23 | -13.9% | Jan 12, 2026 |
| UBS | Joshua Spector | $66 | $61.6 | -19.9% | Oct 6, 2025 |
| Mizuho Securities | Analyst unavailable | $75 | $61.51 | -9.0% | Oct 3, 2025 |
| Oppenheimer | Kristen Owen | $89 | $64.23 | +8.0% | Aug 7, 2025 |
| Barclays | Lauren Lieberman | $82 | $78.18 | -0.5% | Mar 27, 2025 |
| Argus Research | Alexandra Yates | $93 | $82.56 | +12.8% | Jan 7, 2025 |
| Morgan Stanley | Lisa De Neve | $110 | $91.21 | +33.5% | Nov 11, 2024 |
| Stifel Nicolaus | Mark Astachan | $121 | $103.88 | +46.8% | Oct 24, 2024 |
| Oppenheimer | Kristen Owen | $117 | $101.28 | +42.0% | Sep 11, 2024 |
| Mizuho Securities | John Roberts | $120 | $103.99 | +45.6% | Sep 3, 2024 |
| Stifel Nicolaus | Mark Astrachan | $115 | $95.67 | +39.5% | Jul 22, 2024 |
| UBS | Joshua Spector | $100 | $96.64 | +21.3% | Jul 9, 2024 |
| Jefferies | Laurence Alexander | $111 | $98.14 | +34.7% | Jun 24, 2024 |
| Oppenheimer | Kristen Owen | $116 | $97.9 | +40.7% | Jun 6, 2024 |
| Morgan Stanley | Lisa De Neve | $100 | $98.1 | +21.3% | May 21, 2024 |
| Jefferies | Laurence Alexander | $110 | $97.23 | +33.5% | May 8, 2024 |
| Mizuho Securities | John Roberts | $98 | $88.66 | +18.9% | May 7, 2024 |
| Barclays | Lauren Lieberman | $75 | $86.57 | -9.0% | Apr 12, 2024 |
| Wells Fargo | Michael Sison | $100 | $85.5 | +21.3% | Apr 4, 2024 |
| Deutsche Bank | David Begleiter | $100 | $83.92 | +21.3% | Mar 20, 2024 |
| Stifel Nicolaus | Mark Astachan | $85 | $83.05 | +3.1% | Mar 19, 2024 |
| Morgan Stanley | Lisa De Neve | $90 | $79.76 | +9.2% | Jan 22, 2024 |
| Jefferies | Laurence Alexander | $112 | $80.25 | +35.9% | Jan 12, 2024 |
| J.P. Morgan | Jeffrey Zekauskas | $67 | $80.97 | -18.7% | Jan 2, 2024 |
| Argus Research | John Eade | $85 | $75.67 | +3.1% | Nov 28, 2023 |
| Stifel Nicolaus | Mark Astrachan | $81 | $68.09 | -1.7% | Sep 18, 2023 |
| Stifel Nicolaus | Mark Astrachan | $160 | $133.19 | +94.1% | Jan 25, 2022 |
| Jefferies | Laurence Alexander | $180 | $144.97 | +118.4% | Jan 13, 2022 |
| Citigroup | PJ Juvekar | $147 | $136.21 | +78.4% | May 20, 2021 |
| Societe Generale | Thomas Swoboda | $170 | $138.69 | +106.3% | May 19, 2021 |
| Morgan Stanley | Lisa De Neve | $160 | $137.3 | +94.1% | Apr 12, 2021 |
Track every rating change on IFF the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationInternational Flavors & Fragrances Inc. (IFF), through its various subsidiaries, operates as a global developer and purveyor of active cosmetic and natural health ingredients. These vital components are incorporated into a wide array of consumer goods distributed across significant markets such as Europe, Africa, the Middle East, Greater Asia, North America, and Latin America. The company's activities are organized into four principal divisions: 1. Nourish: This segment focuses on natural and plant-derived specialty food ingredients, offering items like flavor compounds, savory solutions, and inclusions. It also provides natural food protection solutions, including antioxidants and anti-microbials, for use in beverages, confectionery, and dairy items. 2. Scent: The Scent division creates fragrance compounds, encompassing luxurious fine fragrances (perfumes and colognes) and everyday consumer fragrances.…
Historical context
All IFF earningsBasic Materials peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| HMY Harmony Gold Mining Company Limited | FY2026 Q4 · Calendar Q3 2026 | 0.0% | -6.2% | Harmony Gold posts record FY2026 while Eva Copper risks remain |
Latest beats and misses
Who reports nextBeat on EPS
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- CAGFY2027 Q1 · September 30, 2026+44.4% EPS-4.9% move
- FDSFY2026 Q4 · September 30, 2026+3.9% EPS+3.8% move
- JBLFY2026 Q4 · September 30, 2026+8.1% EPS-10.0% move
Get the IFF recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-10-04T06:30:41.728451+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-04T06:30:41.725533+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-04. For educational purposes only; not investment advice.