Flavor and fragrance producer IFF (NYSE: IFF) reported revenue ahead of Wall Street’s expectations in Q3 2026, with revenue rising 3.9% year on year to $1.94 billion. On the other hand, the company’s full-year revenue guidance of $7.55 billion at the midpoint came in 0.5% below analysts’ consensus estimates. Its non-GAAP profit of $0.83 per share was 1.8% above analysts’ consensus estimates.
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International Flavors & Fragrances (IFF) Q3 2026 highlights:
- Revenue $1.94 billion vs S&P analysts’ consensus estimates of $1.92 billion (3.9% year-on-year growth, 1.3% beat)
- Adjusted EPS $0.83 vs S&P analysts’ consensus estimates of $0.82 (1.8% beat)
- Adjusted EBITDA $403 million vs analysts’ consensus estimates of $391.8 million (20.8% margin, 2.9% beat)
- Revenue guidance The company slightly lifted its revenue guidance for the full year to $7.55 billion at the midpoint from $7.5 billion
- EBITDA guidance $1.58 billion at the midpoint for the full year, in line with analysts’ consensus estimates
- Operating margin 8.2%, down from 12.1% in the same quarter last year
- Free cash flow -$7 million, down from $32 million in the same quarter last year
- Organic revenue rose 5% year on year (beat)
- Market capitalization $24.14 billion
“IFF delivered a solid third quarter, with improved sales and profitability across all divisions,” said Erik Fyrwald, CEO of IFF. “Taste and Scent delivered strong top- and bottom-line results, and Health & Biosciences improved modestly as we continue to strengthen the business. We also generated strong cash flow through the first nine months of 2026 and recently completed our $500 million accelerated share repurchase program. The separation of Food Ingredients is progressing well, and we are on track with our timeline to close.”
Revenue growth
Examining a company’s long-term performance can provide clues about its quality. Any business can experience short-term success, but top-performing ones enjoy sustained growth for years.
With $7.59 billion in revenue over the past 12 months, International Flavors & Fragrances is one of the larger consumer staples companies and benefits from a well-known brand that influences purchasing decisions. However, its scale is a double-edged sword because there are only a finite number of major retail partners, placing a ceiling on its growth. For International Flavors & Fragrances to boost its revenue, it likely needs to adjust its prices, launch new offerings or expand in foreign markets.
International Flavors & Fragrances struggled to generate demand over the last three years. Its revenue declined by 13.2% annually.
This quarter, International Flavors & Fragrances reported modest year-on-year revenue growth of 3.9% but beat Wall Street’s consensus estimates by 1.3%.
Looking ahead, sell-side analysts expect revenue to grow 2% over the next 12 months, according to S&P. While this projection suggests its newer products will catalyze better top-line performance, it is still below the sector average.
Organic revenue growth
When analyzing revenue growth, the key measure is organic revenue growth. This metric captures a business’s performance excluding one-time events such as mergers, acquisitions and divestitures as well as foreign currency fluctuations.
Demand for International Flavors & Fragrances’s products has generally risen over the last two years but lagged behind the broader sector. On average, the company’s organic revenue has grown by 4.6% year on year. 
In the latest quarter, International Flavors & Fragrances’s organic revenue rose by 5% year on year. This performance was roughly in line with its historical levels.
Key takeaways from International Flavors & Fragrances’s Q3 results
International Flavors & Fragrances delivered some key positives in Q3: organic revenue and EBITDA both topped analysts’ consensus estimates. But full-year revenue guidance fell slightly short of expectations. Investors were likely hoping for more, as shares fell 3.1% to $89.35 immediately after the results.
To assess International Flavors & Fragrances at its current price, consider its valuation, business quality and latest earnings. Read the full research report here for more on these factors (it’s free).
