Last $100.87 USD
Change Today -0.72 / -0.71%
Volume 354.3K
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As of 8:04 PM 08/20/14 All times are local (Market data is delayed by at least 15 minutes).

intl flavors & fragrances (IFF) Key Developments

International Flavors & Fragrances Inc. Declares Quarterly Dividend on Common Stock Payable on October 7, 2014

International Flavors & Fragrances Inc. announced that on August 4, 2014, the Board of Directors authorized a 21% increase ($0.08) in the quarterly dividend to $0.47 per share of the company's common stock, up from the current $0.39 per share. The quarterly dividend is payable on October 7, 2014 to shareholders of record as of September 25, 2014. Including this authorization, IFF's quarterly dividend payment will have grown by a compound annual growth rate of 15% over the last four years.

International Flavors & Fragrances Inc. Reports Unaudited Consolidated Financial Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Earnings Guidance for the Full Year 2014

International Flavors & Fragrances Inc. reported unaudited consolidated financial results for the second quarter and six months ended June 30, 2014. Reported net sales grew 4% to $788.4 million, up from $757.6 million in the second quarter of 2013. Operating profit increased 8%, or $10.7 million, to $153.1 million, up from $142.4 million in the second quarter of 2013. Diluted earnings per share (EPS) totaled $1.35, compared with $1.24 in the second quarter of 2013. Adjusted diluted EPS increased 21% to $1.37, up from an adjusted $1.14 in the second quarter of 2013. Pretax income was $146,353,000, compared to $140,745,000 for the last year. Net income was $110,285,000, compared to $102,322,000 for the last year. For the six months, the company's net sales were $1,558,638,000, compared to $1,485,471,000 for the last year. Pretax income was $289,286,000, compared to $268,268,000 for the last year. Net income was $216,992,000 or $2.64 per diluted share, compared to $193,020,000 $2.34 per diluted share for the last year. Additions to property, plant and equipment were $60,244,000, compared to $60,689,000 for the last year. Cash flow from operations for the six months ended June 30, 2014 was $154.0 million, or 9.9% of sales, compared with $118.0 million, or 7.9% of sales in the prior year period. The increase in cash flow from operations reflects higher net income and a pension contribution payment included in the 2013 period. As a result, the company is revising 2014 sales growth targets to 4% to 6%, including a percentage point of growth from Aromor. For the full year, profitability metrics remain intact and the company is confident that it will achieve double-digit growth in adjusted operating profit and adjusted earnings per share.

International Flavors & Fragrances Inc. to Report Q2, 2014 Results on Aug 05, 2014

International Flavors & Fragrances Inc. announced that they will report Q2, 2014 results at 9:00 AM, Eastern Standard Time on Aug 05, 2014

International Flavors & Fragrances Inc., Q2 2014 Earnings Call, Aug 05, 2014

International Flavors & Fragrances Inc., Q2 2014 Earnings Call, Aug 05, 2014

International Flavors & Fragrances Inc. Unveils New PV solar installation at Hazlet Facility, New Jersey

International Flavors & Fragrances Inc., or IFF, has unveiled a new photovoltaic, or PV, solar installation at its Hazlet facility, New Jersey. The 4,000 kilowatt solar installation has more than 16,000 modules and approximately 1 million solar cells covering 20 acres of IFF property. The solar installation is a major milestone in IFF's sustainable development and corporate social responsibility initiatives. It aligns with the Company's values and its corporate strategy, demonstrating commitment to its Sustainability Triple Bottom Line strategy: Environmentally, Economically and Socially. The installation is expected to supply 40% of the electricity needs of the Hazlet, NJ fragrances manufacturing and creative center facilities. The clean energy generated is projected to reduce the site's carbon dioxide emissions by approximately 3,200 metric tons annually and prevent greenhouse gas emissions equivalent to planting approximately 2,600 acres of trees a year.

 

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IFF

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Valuation IFF Industry Range
Price/Earnings 22.1x
Price/Sales 2.7x
Price/Book 5.2x
Price/Cash Flow 21.8x
TEV/Sales 2.3x
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