International Flavors Fragrances Inc. (IFF) has been subject to much market speculation throughout varied industry reports. Highlighted by Q3 and Q2 2024 earnings outperforming expectations, nevertheless, the company's stock has been performing poorly in comparison to competitors. Despite selling its pharma unit to France’s Roquette for $2.85 billion, and IFF stock hitting a new 52-week high, a noteworthy deduction on IFF’s dividend to $0.40 alongside overall weak market performance remains concerning. The presence of major institutional owners and purchase by firms such as Sanctuary Advisors, Covea Finance, Appian Way Asset Management, and British Columbia Investment Management Corp. presents a complex picture. Despite this, negative repercussions include a €15.9 million EU fine for obstructing an investigation into a suspected fragrance cartel, alongside leadership changes with Erik Fyrwald's appointment as CEO and Board Director. Concurrently, Clariant, another industry player, acquired Lucas Meyer Cosmetics. Still, IFF was hit with substantial business impacts, including a $2.6 billion impairment charge on the nourish segment, suggesting a rough outlook for 2024.
International Flavors Fragrances IFF News Analytics from Thu, 08 Dec 2022 08:00:00 GMT to Fri, 18 Oct 2024 14:38:48 GMT -
Rating -2
- Innovation 0
- Information 5
- Rumor -7
