01—Abstract
Summary
Summary of the 8-K filed January 18, 2024. Cited figures are marked; the original filing is the authoritative source.
International Flavors & Fragrances, Inc. filed this Form 8-K on January 18, 2024, under Item 2.02 (Results of Operations and Financial Condition) to reaffirm previously issued financial guidance for the full year ended December 31, 2023.
The company referenced a press release issued January 11, 2024, in which it stated that it expects full year 2023 sales to be in line with its previously stated guidance range of $11.3 billion to $11.6 billiona. The company also continues to expect full year 2023 adjusted operating EBITDA to be at the mid to high end of its previously stated guidance range of $1.85 billion to $2.0 billion.
For investors, the filing is a reaffirmation rather than new results: it signals that management's prior outlook for 2023 sales and adjusted operating EBITDA remained unchanged as of early January 2024. The information is furnished rather than filed under the Securities Exchange Act of 1934, and the filing includes standard forward-looking statements that refer readers to risk factors in the company's Form 10-K for the year ended December 31, 2022.
02—Key points
Key Highlights
- Reaffirmed full year 2023 sales expected to be in line with prior guidance range of $11.3 billion to $11.6 billion
- Continues to expect full year 2023 adjusted operating EBITDA at the mid to high end of prior guidance range of $1.85 billion to $2.0 billion
- Guidance reaffirmation was announced in a press release dated January 11, 2024
- The filing is made under Item 2.02 and the information is furnished, not filed, under Section 18 of the Exchange Act
- No new financial results are presented; the filing reiterates previously stated outlook
- Forward-looking statements reference risks described in the company's 2022 Form 10-K and other SEC filings
03—Questions
Frequently Asked Questions
What did IFF reaffirm in this 8-K filing?
IFF reaffirmed its previously issued full year 2023 guidance, stating that it expects full year 2023 sales to be in line with the range of $11.3 billion to $11.6 billion and adjusted operating EBITDA to be at the mid to high end of the range of $1.85 billion to $2.0 billion.
Where was the reaffirmed guidance first announced?
The guidance was announced in a press release issued by the company on January 11, 2024, which this filing references under Item 2.02.
Does this filing contain new 2023 financial results?
No. The filing states only the reaffirmation of previously issued guidance for the full year ended December 31, 2023; it does not present actual reported results.
Is the information in this filing considered filed under the Exchange Act?
No. The filing states that the information in Item 2.02 is furnished and shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, and is not incorporated by reference into other filings except where expressly stated.
Where can investors find the risks associated with these forward-looking statements?
The filing refers investors to the risks and uncertainties described in the company's Annual Report on Form 10-K for the year ended December 31, 2022, and its other filings with the SEC.
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