International Flavors & Fragrances reported second-quarter revenue of $1.95 billion, missing analyst estimates of $2.61 billion and marking a 29.3% year-on-year decline. The company lowered its full-year revenue guidance to $7.5 billion at the midpoint, down from $10.65 billion and 30.2% below analyst expectations. Adjusted earnings per share came in at $0.82, 26.6% below the consensus estimate of $1.12, while adjusted EBITDA of $408 million missed forecasts by 22.9%. Organic revenue rose 6% year on year, beating estimates, and free cash flow margin improved to 14.6% from 5.3% a year earlier. The stock remained flat at $80.50 following the release.
International Flavors & Fragrances IncMissed Q2 revenue and EPS estimates, slashed full-year guidance
