IFF Q1 Sales Surge, Guidance Reaffirmed

IFFs Q1 2023 sales surged by 3% to $2.7 billion, driven by volume gains across all segments. Health and Biosciences led with 5% growth, while Taste, Food Ingredients, and Scent saw 2%, 3%, and 1% increases respectively. Despite Middle East conflicts and rising input costs, IFF remains confident, buoyed by strong customer relationships and innovation pipelines. Theyve sold their soy crush business and are on track to sell Food Ingredients. IFF reaffirmed full-year sales guidance and expects EBITDA to grow by 3-8%. Despite a slight dip in Q2 EBITDA, the back-half recovery via pricing and productivity keeps the outlook steady. IFFs cash focus and deleveraging have positioned them to navigate volatility and pursue growth in core areas. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/48db0600a80eb4be