New York City / NY. (iff) IFF International Flavors + Fragrances Inc. reported financial results for the first quarter ended March 31, 2024. «We have started the year well, with good results across the majority of our business,» said CEO Erik Fyrwald. «In the first quarter, we delivered volume growth and productivity gains, which resulted in solid top-and-bottom-line results on a comparable basis. We are off to a good start, yet recognize that it is still early in the year and uncertainty remains. Based on our performance to date and our outlook for the balance of the year, we believe results will likely trend towards the higher-end of our previously announced guidance ranges.
«We also took important steps in our portfolio optimization strategy by reaching an agreement to sell our Pharma Solutions business and completing the previously announced divestiture of our Cosmetic Ingredients business. These actions, along with the rightsizing of our dividend earlier this year, represent significant steps toward our commitment to strengthen our capital structure and improve our debt leverage ratio.» For additional information please read the Company’s PDF file below (288 KB):
20240508-IFF-Q12024.