IFF - International Flavors & Fragrances Shares Are Tumbling Premarket Today: Here's Why | Benzinga
International Flavors & Fragrances Inc (NYSE:IFF) shares are diving premarket today after it reported mixed fourth-quarter FY23 results and a dividend cut.
Revenue of $2.703 billion (down 5% Y/Y), topped the consensus of $2.699 billion. On a comparable basis, currency-neutral sales rose 1% Y/Y, led by growth in the Scent and Health & Biosciences business.
Adjusted operating EBITDA rose to $461 million from $441 million a year ago. Operating cash flow at the end of the year was $1.44 billion, and FCF totaled $936 million.
Adjusted ...