IFF Reports Second Quarter 2026 Results; Announces Use of Proceeds Plan for Food Ingredients Divestiture

About this update from International Flavors & Fragrances, Inc.

[{"type":"text","content":"\nIFF (NYSE: IFF) reported financial results for the second quarter ended June 30, 2026. Results are presented on a continuing operations basis, excluding the Food Ingredients business and other minor perimeter adjustments (the “Food Ingredients disposal group”), and the Soy Crush, Concentrates, and Lecithin businesses (the “SCL disposal group”). The Food Ingredients disposal group and the SCL disposal group are reported as discontinued operations.\n\n\nSecond Quarter 2026 Consolidated Summary of Results, on a continuing operations basis1:\nReported\n(GAAP)\n \n\n\nAdjusted\n(Non-GAAP)2\nSales\n \n\n\nIncome Before Taxes\n \n\n\nEPS\n \n\n\nOperating EBITDA\n \n\n\nOperating EBITDA Margin\n \n\n\nEPS ex Amortization\n$2.0 B\n\n\n \n\n\n$64 M\n\n\n \n\n\n$0.13\n\n\n \n\n\n$408 M\n\n\n \n\n\n20.9%\n\n\n \n\n\n$0.82\n\n\nFirst Six Months 2026 Consolidated Summary of Results, on a continuing operations basis1:\nReported\n(GAAP)\n \n\n\nAdjusted\n(Non-GAAP)2\nSales\n \n\n\nIncome Before Taxes\n \n\n\nEPS\n \n\n\nOperating EBITDA\n \n\n\nOperating EBITDA Margin\n \n\n\nEPS ex Amortization\n$3.9 B\n\n\n \n\n\n$260 M\n\n\n \n\n\n$0.73\n\n\n \n\n\n$841 M\n\n\n \n\n\n21.8%\n\n\n \n\n\n$1.74\n\n\nManagement Commentary\n“IFF delivered a strong first half of 2026 on a continuing operations basis,” said Erik Fyrwald, CEO of IFF. “Performance was driven by volume growth, disciplined margin execution and robust free cash flow generation. These results reflect the strength of our commercial and innovation pipelines and the actions underway to improve efficiency and cash flow across the company.”\n\n\n“This quarter marked a defining step in our portfolio transformation with the announced agreement to divest Food Ingredients. The transaction sharpens IFF's focus on Taste, Scent, and Health & Biosciences, creating a simpler, higher-growth, higher-margin company with enhanced cash generation. As part of this transformation, we are taking decisive action to eliminate related stranded costs and will execute with urgency.”\n\n\n“We are also providing greater clarity on our intended use of proceeds from the divestiture of the Food Ingredients business through a sequenced capital allocation framework. Our objective is to maintain a strong bal...

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