IFF Raises Sales Guidance Despite Third-Quarter Net Loss

Net sales climbed 4% to $1.94 billion, buoyed by a 6.3% jump in the scent division, which comfortably outpaced analyst expectations of $1.91 billion. On an adjusted basis, the company posted earnings of 83 cents per share, narrowly beating the 81-cent consensus estimate. Chief Executive Erik Fyrwald noted consistent operational improvements across all divisions, including a modest recovery in the health and biosciences unit.

However, investors reacted negatively to the outlook, sending shares down 3.5% in after-hours trading. Fyrwald warned of softer profitability in the fourth quarter, citing shifting macroeconomic headwinds. The company now anticipates full-year sales between $7.5 billion and $7.6 billion, a range that remains below the $7.74 billion target currently anticipated by Wall Street analysts.