Analyst Consensus ?
ConsensusBuy34 ratings
Bullish2573.5%
Neutral823.5%
Bearish13.0%
International Flavors & Fragrances Inc. · IFF · FY2026 Q1 · Calendar Q2 2026
IFF Beats Estimates, Reaffirms Guidance as Food Ingredients Sale Advances
IFF delivered a strong Q1 2026 beat with revenue of $2.74B (+3% YoY) and an adjusted EBITDA margin of 20.7%, its highest since 2022, driving a 17% stock surge on the report. Management reaffirmed full-year guidance for 1-4% sales and 3-8% EBITDA growth, supported by volume gains, a maturing innovation pipeline, and ongoing productivity gains. The stock has since retraced part of the initial rally, and the pending Food Ingredients divestiture remains the key near-term catalyst.
Reported After market closeNYSEBasic Materials
$20.29B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$1.25
Consensus $1.07
EPS surprise
+16.8%
Reported versus consensus
Reported revenue
$2.74B
Consensus $2.64B
Revenue surprise
+3.7%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
+17.2%
Event window
SPY move
+1.4%
Same window
Abnormal move
+15.8%
Stock minus SPY
Volume
3.3×
Versus trailing sessions
Subsequent drift
-11.7%
Up to 20 sessions
IFFSPY benchmark
Ask FN2 about IFF FY2026 Q1
Transcript, numbers and history already loaded
Why did IFF rise 17.2% after beating EPS estimates in FY2026 Q1?What changed in IFF's guidance and outlook in FY2026 Q1?Give me the bull and bear case for IFF after FY2026 Q1 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Q1 revenue grew 3% to $2.74B and adjusted EBITDA rose 8%, yielding the highest margin since 2022. The commodity soy crush business was sold to Bunge for $110M ahead of schedule, free cash flow improved by $144M YoY, and gross debt fell by more than $3B. The Areito fermentation enzyme plant in Argentina began production. Management reaffirmed full-year 2026 guidance.
Guidance delta
Management reaffirmed 2026 guidance for 1-4% sales growth and 3-8% EBITDA growth, unchanged from the prior quarter's outlook.
Key takeaways
- Q1 sales grew 3% to $2.74B; adjusted EBITDA margin expanded to 20.7%, the highest since 2022.
- EPS of $1.25 beat consensus of $1.07 by ~17%; revenue exceeded estimates by ~4%.
- Health & Biosciences led segment growth; Fine Fragrance faced pressure from Middle East conflict.
- Food Ingredients divestiture in second-round diligence with multiple buyers; update expected by Q2 earnings.
- Free cash flow rose $144M YoY; net debt-to-EBITDA improved to 2.5x; gross debt fell over $3B.
Management priorities
- Scale up the Areito fermentation enzyme facility in Argentina.
- Expand innovation capabilities at the Brazil Innovation Center.
- Continue pricing surcharges to offset energy and logistics cost inflation.
- Pursue selective bolt-on acquisitions and high-return R&D investments.
- Maintain share-buyback program to offset dilution.
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$90.81Current
$67Low
$100.28Average
$170High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 30, 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 |
|---|---|---|---|---|
| Oppenheimer | Outperform | Outperform | Maintain | Oct 22, 2026 |
| Barclays | Overweight | Overweight | Maintain | Oct 16, 2026 |
| Citigroup | Buy | Buy | Maintain | Oct 7, 2026 |
| Argus Research | Buy | Buy | Maintain | Oct 7, 2026 |
| UBS | Neutral | Neutral | Maintain | Aug 6, 2026 |
| Benchmark | Buy | Buy | Maintain | Aug 6, 2026 |
| Morgan Stanley | Overweight | Overweight | Maintain | Jul 1, 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 $90.81. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Oppenheimer | Kristen Owen | $108 | $91.76 | +18.9% | Oct 22, 2026 |
| Barclays | Analyst unavailable | $105 | $90.29 | +15.6% | Oct 16, 2026 |
| Argus Research | Analyst unavailable | $95 | $84.2 | +4.6% | Oct 7, 2026 |
| Barclays | Analyst unavailable | $96 | $84.55 | +5.7% | Aug 7, 2026 |
| Robert W. Baird | Ghansham Panjabi | $100 | $85.61 | +10.1% | Aug 6, 2026 |
| UBS | Joshua Spector | $91 | $85.92 | +0.2% | Aug 6, 2026 |
| Oppenheimer | Analyst unavailable | $95 | $85.87 | +4.6% | Aug 6, 2026 |
| Vertical Research | Analyst unavailable | $93 | $85.63 | +2.4% | Aug 6, 2026 |
| Morgan Stanley | Analyst unavailable | $95 | $80.02 | +4.6% | Jul 1, 2026 |
| Oppenheimer | Analyst unavailable | $90 | $82.93 | -0.9% | May 7, 2026 |
| Barclays | Lauren Lieberman | $90 | $82.93 | -0.9% | May 7, 2026 |
| Barclays | Lauren Lieberman | $80 | $72.1 | -11.9% | Apr 14, 2026 |
| UBS | Joshua Spector | $75 | $73.13 | -17.4% | Apr 9, 2026 |
| Deutsche Bank | Analyst unavailable | $95 | $82.18 | +4.6% | Feb 17, 2026 |
| Mizuho Securities | Analyst unavailable | $92 | $83 | +1.3% | Feb 17, 2026 |
| Morgan Stanley | Lisa De Neve | $93 | $82.43 | +2.4% | Feb 13, 2026 |
| Robert W. Baird | Analyst unavailable | $90 | $82.44 | -0.9% | Feb 13, 2026 |
| UBS | Joshua Spector | $85 | $81.72 | -6.4% | Feb 13, 2026 |
| Oppenheimer | Analyst unavailable | $97 | $81.14 | +6.8% | Feb 13, 2026 |
| Barclays | Analyst unavailable | $91 | $81.5 | +0.2% | Feb 13, 2026 |
| Mizuho Securities | John Roberts | $85 | $76.97 | -6.4% | Feb 12, 2026 |
| Argus Research | Analyst unavailable | $80 | $72.78 | -11.9% | Jan 22, 2026 |
| Barclays | Lauren Lieberman | $78 | $70.78 | -14.1% | Jan 16, 2026 |
| UBS | Analyst unavailable | $71 | $69.23 | -21.8% | Jan 12, 2026 |
| UBS | Joshua Spector | $66 | $61.6 | -27.3% | Oct 6, 2025 |
| Mizuho Securities | Analyst unavailable | $75 | $61.51 | -17.4% | Oct 3, 2025 |
| Oppenheimer | Kristen Owen | $89 | $64.23 | -2.0% | Aug 7, 2025 |
| Barclays | Lauren Lieberman | $82 | $78.18 | -9.7% | Mar 27, 2025 |
| Argus Research | Alexandra Yates | $93 | $82.56 | +2.4% | Jan 7, 2025 |
| Morgan Stanley | Lisa De Neve | $110 | $91.21 | +21.1% | Nov 11, 2024 |
| Stifel Nicolaus | Mark Astachan | $121 | $103.88 | +33.2% | Oct 24, 2024 |
| Oppenheimer | Kristen Owen | $117 | $101.28 | +28.8% | Sep 11, 2024 |
| Mizuho Securities | John Roberts | $120 | $103.99 | +32.1% | Sep 3, 2024 |
| Stifel Nicolaus | Mark Astrachan | $115 | $95.67 | +26.6% | Jul 22, 2024 |
| UBS | Joshua Spector | $100 | $96.64 | +10.1% | Jul 9, 2024 |
| Jefferies | Laurence Alexander | $111 | $98.14 | +22.2% | Jun 24, 2024 |
| Oppenheimer | Kristen Owen | $116 | $97.9 | +27.7% | Jun 6, 2024 |
| Morgan Stanley | Lisa De Neve | $100 | $98.1 | +10.1% | May 21, 2024 |
| Jefferies | Laurence Alexander | $110 | $97.23 | +21.1% | May 8, 2024 |
| Mizuho Securities | John Roberts | $98 | $88.66 | +7.9% | May 7, 2024 |
| Barclays | Lauren Lieberman | $75 | $86.57 | -17.4% | Apr 12, 2024 |
| Wells Fargo | Michael Sison | $100 | $85.5 | +10.1% | Apr 4, 2024 |
| Deutsche Bank | David Begleiter | $100 | $83.92 | +10.1% | Mar 20, 2024 |
| Stifel Nicolaus | Mark Astachan | $85 | $83.05 | -6.4% | Mar 19, 2024 |
| Morgan Stanley | Lisa De Neve | $90 | $79.76 | -0.9% | Jan 22, 2024 |
| Jefferies | Laurence Alexander | $112 | $80.25 | +23.3% | Jan 12, 2024 |
| J.P. Morgan | Jeffrey Zekauskas | $67 | $80.97 | -26.2% | Jan 2, 2024 |
| Argus Research | John Eade | $85 | $75.67 | -6.4% | Nov 28, 2023 |
| Stifel Nicolaus | Mark Astrachan | $81 | $68.09 | -10.8% | Sep 18, 2023 |
| Stifel Nicolaus | Mark Astrachan | $160 | $133.19 | +76.2% | Jan 25, 2022 |
| Jefferies | Laurence Alexander | $180 | $144.97 | +98.2% | Jan 13, 2022 |
| Citigroup | PJ Juvekar | $147 | $136.21 | +61.9% | May 20, 2021 |
| Societe Generale | Thomas Swoboda | $170 | $138.69 | +87.2% | May 19, 2021 |
| Morgan Stanley | Lisa De Neve | $160 | $137.3 | +76.2% | 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
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| LIN Linde plc | FY2026 Q3 · Calendar Q4 2026 | — | -1.4% | Linde keeps FY guidance as restructuring weighs on near-term outlook |
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Latest beats and misses
Who reports nextBeat on EPS
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- MRKFY2026 Q3 · October 29, 2026+19.1% EPS+3.8% move
- DRSFY2026 Q3 · October 29, 2026+30.0% EPS+11.7% 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 · 2026-07-31T03:21:38.174246+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-07-31T03:21:38.171094+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 2026-07-31. For educational purposes only; not investment advice.