IFF Q3 2026: sales up 4%, GAAP loss on $236 million held-for-sale charge
Neutral. IFF's underlying business improved — currency-neutral sales rose 5.0% and adjusted operating EBITDA reached $403 million — but reported results were dragged down by a $236 million loss on assets held for sale, producing a $55 million net loss and a GAAP loss per share of $0.22. Read the adjusted figures for the operating trend, and the GAAP figures for what the portfolio cleanup costs.
1 · Expected vs. Actual
Free preview belowThe GAAP loss per share of $0.22 hides two very different numbers: continuing operations lost $0.50 a share, while discontinued operations added $0.28. Most of the bridge to the $0.83 adjusted EPS ex-amortization came from a $0.73 per-share loss on assets held for sale, plus $0.13 of regulatory costs and $0.09 of goodwill impairment. Adjusted EPS still rose from $0.76 a year ago, so the operating engine is fine — the charges are what moved the headline.
Sales of $1.942 billion rose 3.9% from $1.869 billion a year earlier, and 5.0% on a comparable currency-neutral basis. All three divisions grew: Scent $689 million, Taste $687 million and Health & Biosciences $566 million. The catch is Health & Biosciences, which managed only 1.0% currency-neutral growth while the other two delivered mid-single digits.
Full-year sales guidance is now $7.5 billion to $7.6 billion, with the low end lifted from $7.4 billion, and adjusted operating EBITDA is $1.55 billion to $1.60 billion. Currency-neutral sales growth guidance moved to 3.0%–4.0% from 2.0%–4.0%. Management still expects a softer fourth quarter, particularly in Health & Biosciences, so this is a narrow raise rather than a clean upgrade.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-11-03
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