International Flavors And Fragrances Inc Q3 Profit Decreases, But Beats Estimates

(RTTNews) - International Flavors And Fragrances Inc (IFF) announced earnings for third quarter that Decreased from the same period last year but beat the Street estimates.

The company's earnings totaled $40 million, or $0.16 per share. This compares with $58 million, or $0.23 per share, last year.

Excluding items, International Flavors And Fragrances Inc reported adjusted earnings of $159 million or $1.05 per share for the period.

Analysts on average had expected the company to earn $0.85 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 7.9% to $2.694 billion from $2.925 billion last year.

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

-Earnings: $40 Mln. vs. $58 Mln. last year. -EPS: $0.16 vs. $0.23 last year. -Revenue: $2.694 Bln vs. $2.925 Bln last year.

-Guidance: Full year revenue guidance: $10.6 Bln-$10.9 Bln