NEW YORK (AP) — NEW YORK (AP) — International Flavors & Fragrances Inc. (IFF) on Tuesday reported first-quarter earnings of $169 million.
The New York-based company said it had profit of 66 cents per share. Earnings, adjusted for amortization costs and non-recurring costs, came to $1.25 per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.08 per share.
The ingredients producer for food, cosmetics and consumer products industries posted revenue of $2.74 billion in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $2.65 billion.
International Flavors expects full-year revenue in the range of $10.5 billion to $10.8 billion.
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