International Flavors (IFF) Down 10.5% Since Last Earnings Report: Can It Rebound?

It has been about a month since the last earnings report for International Flavors (IFF). Shares have lost about 10.5% in that time frame, underperforming the S&P 500.

Will the recent negative trend continue leading up to its next earnings release, or is International Flavors due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers.

International Flavors Q1 Earnings Miss, View Declines

International Flavors reported adjusted earnings of 87 cents per share in first-quarter 2023, missing the Zacks Consensus Estimate of 89 cents. The bottom line declined 49% from the year-ago quarter.

Including one-time items, the company reported a loss of 4 cents against the prior-year quarters earnings per share (EPS) of 96 cents.

International Flavors net sales were $3,027 million in the March-end quarter, decreasing 6% year over year. The downside resulted from lower volumes across most segments. The top line surpassed the Zacks Consensus Estimate of $3,016 million. In the January-March quarter, currency-neutral sales grew 1% year over year.