International Flavors And Fragrances Inc Q2 Profit Decreases, misses estimates

(RTTNews) - International Flavors And Fragrances Inc (IFF) reported earnings for second quarter that decreased from last year and missed the Street estimates.

The company's earnings came in at $27 million, or $0.11 per share. This compares with $107 million, or $0.43 per share, in last year's second quarter.

Excluding items, International Flavors And Fragrances Inc reported adjusted earnings of $0.86 per share for the period.

Analysts on average had expected the company to earn $1.10 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 11.5% to $2.93 billion from $3.31 billion last year.

International Flavors And Fragrances Inc earnings at a glance (GAAP) :

-Earnings (Q2): $27 Mln. vs. $107 Mln. last year. -EPS (Q2): $0.11 vs. $0.43 last year. -Analyst Estimates: $1.10 -Revenue (Q2): $2.93 Bln vs. $3.31 Bln last year.

-Guidance: Full year revenue guidance: $11.3 - $11.6 Bln