International Flavors & Fragrances, Inc. · NYSE:IFF
International Flavors & Fragrances — Q1 2026 Earnings Presentation
20 slides from International Flavors & Fragrances's earnings presentation, May 6, 2026
Slide 1: First Quarter 2026 Earnings Conference Call
First Quarter 2026 Earnings Conference Call May 6, 2026
Slide 2: Cautionary Statement
CAUTIONARY STATEMENT This presentation includes statements that are not historical facts and are “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995. Such forward- looking statements are based on management’s current assumptions, estimates and expe
Slide 3: Non-GAAP Financials
NON-GAAP FINANCIALS We provide in this presentation non-GAAP financial measures, including: (i) comparable currency neutral sales; (ii) adjusted operating EBITDA and comparable currency neutral adjusted operating EBITDA; (iii) adjusted operating EBITDA margin; (v) free cash flow; and (vi) net debt t
Slide 4: Today's Speakers
TODAY’S SPEAKERS Erik Fyrwald Michael DeVeau Michael Bender Chief Executive Officer EVP, Chief Financial Officer VP, Investor Relations 4
Slide 5: Agenda
AGENDA Executive Summary ____ Q1 2026 Review ____ 2026 Outlook ____ Q&A 5
Slide 6: Executive Summary
Q1 2026 EXECUTIVE SUMMARY Solid start to the year driven by volume growth across all businesses First quarter performance was led by strong growth in Health & Biosciences and solid increases in Taste, Food Ingredients & Scent Volume growth and productivity gains drove high-single digit comparable cu
Slide 7: Consolidated Results
Q1 2026 CONSOLIDATED RESULTS Comparable Reported Currency In millions / % of sales 2025 2026 Neutral Comparable currency neutral sales1 2 grew % Δ 3% led by growth across all businesses Ad j u s t e d % Δ ¹ ² ____ Performance led by mid-single digit growth Revenue $2,843 $2,741 (4)% 3% from Health &
Slide 8: Segment Performance
Q1 2026 SEGMENT PERFORMANCE NET ADJUSTED SALES O P E R AT I N G EBITDA¹ SEGMENT (Comparable (Comparable currency HIGHLIGHTS currency neutral neutral adjusted vs. vs. 1Q 25) ¹ ² 1Q 25)¹ ² $656 million $153 million • Growth in all regions led by mid-single digit performance in Greater Asia Taste +2% +
Slide 9: Cash Flow & Leverage
Q1 2026 CASH FLOW & LEVERAGE Cash Flow Leverage Cash flow from operations totaled $257 million Cash and cash equivalents finished at $562 million ____ ____ Capex YTD was $165 million or ~6% of sales Gross debt totaled $5,850 million ____ ____ Free cash flow1 of $92 million Trailing 12-month credit a
Slide 10: Consolidated Outlook
FY 2026 CONSOLIDATED OUTLOOK FY 2026¹ In millions or as % of sales GUIDANCE Reaffirming full-year 2026 financial guidance ranges Revenue $10.5B – $10.8B ____ Comparable currency neutral 1 Δ 1% to 4% Recognize macroeconomic environment remains unsettled, particularly related to the Middle East confli
Slide 11: Summary
SUMMARY Q1 2026 results reflect good progress on top and bottom-line performance Continuing to focus on what we can control - serving customers through innovation, executing our strategy, advancing the productivity agenda, & increasing cash flow generation while progressing the sale process for Food
Slide 12: We Make Joy Through Science, Creativity & Heart
WE MAKE JOY THROUGH S C I E N C E , C R E AT I V I T Y & H E A R T
Slide 13: Appendix: Reconciliation of GAAP to Non-GAAP Financial Measures
APPENDIX R E C O N C I L I AT I O N O F G A A P TO NON-GAAP FINANCIAL MEASURES
Slide 14: GAAP to Non-GAAP Reconciliation
International Flavors & Fragrances Inc. GAAP to Non-GAAP Reconciliation (Unaudited) The following information and schedules provide reconciliation information between reported GAAP amounts and non-GAAP certain adjusted amounts. This information and schedules are not intended as, and should not be vi
Slide 15: GAAP to Non-GAAP Reconciliation: Net Income and EPS
International Flavors & Fragrances Inc. GAAP to Non-GAAP Reconciliation (Unaudited) The following information and schedules provide reconciliation information between reported GAAP amounts and non-GAAP certain adjusted amounts. This information and schedules are not intended as, and should not be vi
Slide 16: Reconciliation footnotes
(a) Represents costs related to severance as part of the IFF Productivity Program. (b) For 2025, represents the impairment of goodwill related to the Food Ingredients reporting unit. (c) For 2026 and 2025, primarily represents costs related to the Company’s completed and anticipated divestitures. Th
Slide 17: Debt Covenants
International Flavors & Fragrances Inc. Debt Covenants (Amounts in millions) (Unaudited) The following information and schedules provide reconciliation information between reported GAAP amounts and non-GAAP certain adjusted amounts. This information and schedules are not intended as, and should not
Slide 18: Comparable Reportable Segment Performance
International Flavors & Fragrances Inc. Comparable Reportable Segment Performance (Amounts in millions) (Unaudited) The following information and schedule provides reconciliation information between reported GAAP amounts and non-GAAP certain adjusted amounts. This information and schedule is not int
Slide 19: Segment performance footnotes
(4) Amounts exclude the results of the Rene Laurent business that was divested on December 1, 2025, the SCL disposal group that was divested on March 2, 2026, and the Pharma Solutions disposal group and Nitrocellulose business that were divested on May 1, 2025 and May 9, 2025, respectively, to prese
Slide 20: Comparable Foreign Exchange Impact
International Flavors & Fragrances Inc. GAAP to Non-GAAP Reconciliation Comparable Foreign Exchange Impact (Unaudited) Segment Adjusted Segment Adjusted Q1 2026 Taste Sales Operating EBITDA Operating EBITDA Margin % Change - Reported 5% 17% 2.4% Portfolio Impact 1% 6% 0.8% % Change - Comparable 6% 2
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