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International Flavors: 1Q Earnings Snapshot

NEW YORK (AP) _ International Flavors & Fragrances Inc. (IFF) on Monday reported first-quarter earnings of $108.8 million.

The New York-based company said it had profit of 96 cents per share. Earnings, adjusted for non-recurring costs, were $1.57 per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.50 per share.

The ingredients producer for food, cosmetics and consumer products industries posted revenue of $1.3 billion in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $1.28 billion.

International Flavors expects full-year earnings in the range of $6.30 to $6.50 per share, with revenue in the range of $5.2 billion to $5.3 billion.

International Flavors shares have climbed nearly 3% since the beginning of the year, while the Standard & Poor's 500 index has increased 17%. In the final minutes of trading on Monday, shares hit $137.71, a decline of 3% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on IFF at https://www.zacks.com/ap/IFF