Analyst Consensus ?
ConsensusBuy34 ratings
Bullish2573.5%
Neutral823.5%
Bearish13.0%
International Flavors & Fragrances Inc. · IFF · FY2026 Q2 · Calendar Q3 2026
IFF raises 2026 sales outlook as core segments post volume growth
IFF's Q2 analysis supports a constructive but conditional view: volume growth, portfolio simplification, and stronger cash deployment underpin the raised outlook, while stranded costs, pricing lag, inflation, and geopolitical exposure are key tests of durability.
Reported After market closeNYSEBasic Materials
$21.34B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.82
Consensus $1.07
EPS surprise
-23.4%
Reported versus consensus
Reported revenue
$1.95B
Consensus $2.62B
Revenue surprise
-25.4%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
+8.9%
Event window
SPY move
-0.2%
Same window
Abnormal move
+9.1%
Stock minus SPY
Volume
1.9×
Versus trailing sessions
Subsequent drift
-1.3%
Up to 20 sessions
IFFSPY benchmark
Ask FN2 about IFF FY2026 Q2
Transcript, numbers and history already loaded
Why did IFF rise 8.9% after missing EPS estimates in FY2026 Q2?What changed in IFF's guidance and outlook in FY2026 Q2?Give me the bull and bear case for IFF after FY2026 Q2 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, IFF moved from maintained to raised guidance, completed the $4.3 billion Food Ingredients divestiture while retaining a 10% stake, and added specific plans for debt reduction, buybacks, and stranded-cost remediation.
Guidance delta
Raised: management lifted the low end of full-year 2026 sales guidance, citing strong first-half momentum.
Key takeaways
- Q2 sales and EBITDA grew about 6% on a continuing-operations basis, with double-digit volume growth across all three core segments.
- The Food Ingredients divestiture shifts the portfolio toward Taste, Scent, and Health & Biosciences, while IFF retains a 10% stake.
- Management plans more than $1 billion of debt reduction and a $2.5 billion share-repurchase program.
- A defined plan targets approximately $100 million of stranded-cost elimination over two years.
- The main offsets are working-capital headwinds, input-cost inflation, pricing lag, and Middle East-related fragrance volatility.
Management priorities
- Deploy more than $1 billion of divestiture proceeds to debt reduction.
- Execute the $2.5 billion share-repurchase program, including $500 million in the second half of 2026.
- Increase R&D spending toward more than 9% of revenue as sales grow.
- Pursue organic growth and selective bolt-on acquisitions in core segments.
- Complete the Food Ingredients divestiture by the end of Q2 2027 while retaining a strategic 10% stake.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$85.79Current
$67Low
$98.56Average
$170High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Sep 22, 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 $85.79. 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 | +11.9% | Aug 7, 2026 |
| Robert W. Baird | Ghansham Panjabi | $100 | $85.61 | +16.6% | Aug 6, 2026 |
| UBS | Joshua Spector | $91 | $85.92 | +6.1% | Aug 6, 2026 |
| Oppenheimer | Analyst unavailable | $95 | $85.87 | +10.7% | Aug 6, 2026 |
| Vertical Research | Analyst unavailable | $93 | $85.63 | +8.4% | Aug 6, 2026 |
| Morgan Stanley | Analyst unavailable | $95 | $80.02 | +10.7% | Jul 1, 2026 |
| Oppenheimer | Analyst unavailable | $90 | $82.93 | +4.9% | May 7, 2026 |
| Barclays | Lauren Lieberman | $90 | $82.93 | +4.9% | May 7, 2026 |
| Barclays | Lauren Lieberman | $80 | $72.1 | -6.7% | Apr 14, 2026 |
| UBS | Joshua Spector | $75 | $73.13 | -12.6% | Apr 9, 2026 |
| Deutsche Bank | Analyst unavailable | $95 | $82.18 | +10.7% | Feb 17, 2026 |
| Mizuho Securities | Analyst unavailable | $92 | $83 | +7.2% | Feb 17, 2026 |
| Morgan Stanley | Lisa De Neve | $93 | $82.43 | +8.4% | Feb 13, 2026 |
| Robert W. Baird | Analyst unavailable | $90 | $82.44 | +4.9% | Feb 13, 2026 |
| UBS | Joshua Spector | $85 | $81.72 | -0.9% | Feb 13, 2026 |
| Oppenheimer | Analyst unavailable | $97 | $81.14 | +13.1% | Feb 13, 2026 |
| Barclays | Analyst unavailable | $91 | $81.5 | +6.1% | Feb 13, 2026 |
| Mizuho Securities | John Roberts | $85 | $76.97 | -0.9% | Feb 12, 2026 |
| Argus Research | Analyst unavailable | $80 | $72.78 | -6.7% | Jan 22, 2026 |
| Barclays | Lauren Lieberman | $78 | $70.78 | -9.1% | Jan 16, 2026 |
| UBS | Analyst unavailable | $71 | $69.23 | -17.2% | Jan 12, 2026 |
| UBS | Joshua Spector | $66 | $61.6 | -23.1% | Oct 6, 2025 |
| Mizuho Securities | Analyst unavailable | $75 | $61.51 | -12.6% | Oct 3, 2025 |
| Oppenheimer | Kristen Owen | $89 | $64.23 | +3.7% | Aug 7, 2025 |
| Barclays | Lauren Lieberman | $82 | $78.18 | -4.4% | Mar 27, 2025 |
| Argus Research | Alexandra Yates | $93 | $82.56 | +8.4% | Jan 7, 2025 |
| Morgan Stanley | Lisa De Neve | $110 | $91.21 | +28.2% | Nov 11, 2024 |
| Stifel Nicolaus | Mark Astachan | $121 | $103.88 | +41.0% | Oct 24, 2024 |
| Oppenheimer | Kristen Owen | $117 | $101.28 | +36.4% | Sep 11, 2024 |
| Mizuho Securities | John Roberts | $120 | $103.99 | +39.9% | Sep 3, 2024 |
| Stifel Nicolaus | Mark Astrachan | $115 | $95.67 | +34.0% | Jul 22, 2024 |
| UBS | Joshua Spector | $100 | $96.64 | +16.6% | Jul 9, 2024 |
| Jefferies | Laurence Alexander | $111 | $98.14 | +29.4% | Jun 24, 2024 |
| Oppenheimer | Kristen Owen | $116 | $97.9 | +35.2% | Jun 6, 2024 |
| Morgan Stanley | Lisa De Neve | $100 | $98.1 | +16.6% | May 21, 2024 |
| Jefferies | Laurence Alexander | $110 | $97.23 | +28.2% | May 8, 2024 |
| Mizuho Securities | John Roberts | $98 | $88.66 | +14.2% | May 7, 2024 |
| Barclays | Lauren Lieberman | $75 | $86.57 | -12.6% | Apr 12, 2024 |
| Wells Fargo | Michael Sison | $100 | $85.5 | +16.6% | Apr 4, 2024 |
| Deutsche Bank | David Begleiter | $100 | $83.92 | +16.6% | Mar 20, 2024 |
| Stifel Nicolaus | Mark Astachan | $85 | $83.05 | -0.9% | Mar 19, 2024 |
| Morgan Stanley | Lisa De Neve | $90 | $79.76 | +4.9% | Jan 22, 2024 |
| Jefferies | Laurence Alexander | $112 | $80.25 | +30.6% | Jan 12, 2024 |
| J.P. Morgan | Jeffrey Zekauskas | $67 | $80.97 | -21.9% | Jan 2, 2024 |
| Argus Research | John Eade | $85 | $75.67 | -0.9% | Nov 28, 2023 |
| Stifel Nicolaus | Mark Astrachan | $81 | $68.09 | -5.6% | Sep 18, 2023 |
| Stifel Nicolaus | Mark Astrachan | $160 | $133.19 | +86.5% | Jan 25, 2022 |
| Jefferies | Laurence Alexander | $180 | $144.97 | +109.8% | Jan 13, 2022 |
| Citigroup | PJ Juvekar | $147 | $136.21 | +71.3% | May 20, 2021 |
| Societe Generale | Thomas Swoboda | $170 | $138.69 | +98.2% | May 19, 2021 |
| Morgan Stanley | Lisa De Neve | $160 | $137.3 | +86.5% | 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
- FPSFY2026 Q4 · September 15, 2026+4.3% EPS+9.5% move
- TCOMFY2026 Q2 · September 15, 2026+22.3% EPS+3.0% move
- KRFY2026 Q2 · September 11, 2026+2.8% EPS+2.7% move
- ADBEFY2026 Q3 · September 10, 2026+0.8% EPS+1.4% move
- ORCLFY2027 Q1 · September 10, 2026+10.3% EPS-1.7% move
- CASYFY2027 Q1 · September 8, 2026+8.7% EPS-14.2% move
Get the IFF recap when the next report posts
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Sources
- Earnings call transcript and parsed analysis · 2026-08-05T18:13:38.000147+00:00
- FN2 earnings calendar · 2026-09-09T01:23:14.388487+00:00
- Polygon adjusted daily market bars · 2026-09-22T19:00:59.450817+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-22T19:00:59.447921+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 2026-09-22. For educational purposes only; not investment advice.