01—Abstract
Summary
Summary of the 8-K filed February 11, 2026. Cited figures are marked; the original filing is the authoritative source.
International Flavors & Fragrances Inc. (NYSE: IFF) reported fourth quarter and full year 2025 results on February 11, 2026, in a press release furnished as Exhibit 99.1.
For full year 2025, reported net sales were $10.89 billiona, down (5)% from the prior year, with comparable currency neutral sales up 2%. The company reported a loss before taxes of $412 million and a reported EPS loss of $(1.46), driven largely by a $1.153 billion goodwill impairment tied to the Food Ingredients reporting unit. Adjusted operating EBITDA was $2.086 billion, a 19.2% margin, and adjusted EPS excluding amortization was $4.20.
Cash flow from operations was $850 millionb and free cash flow was $256 million. For the fourth quarter, reported net sales were $2.59 billion, down (7)%, and reported income before taxes was $22 million, with reported EPS of $0.07 and adjusted EPS ex amortization of $0.80. The company also announced it has launched a sale process for its Food Ingredients segment and expects the Soy Crush, Concentrates, and Lecithin divestiture to close on March 31, 2026.
For 2026, IFF guided to sales of $10.5 billion to $10.8 billionc and adjusted operating EBITDA of $2.05 billion to $2.15 billion. Management expects comparable currency neutral sales growth of 1% to 4% and comparable currency neutral adjusted operating EBITDA growth of 3% to 8%, with divestitures expected to have an approximately 5% adverse impact on both sales and adjusted operating EBITDA growth.
02—Key points
Key Highlights
- Full year 2025 reported net sales of $10.89 billion, down (5)%; comparable currency neutral sales up 2%.
- Full year 2025 reported loss before taxes of $412 million and reported EPS of $(1.46), including a $1.153 billion goodwill impairment for the Food Ingredients reporting unit.
- Full year 2025 adjusted operating EBITDA of $2.086 billion at a 19.2% margin; adjusted EPS ex amortization of $4.20.
- Fourth quarter 2025 reported net sales of $2.59 billion, down (7)%; reported EPS of $0.07 and adjusted EPS ex amortization of $0.80.
- Launched a sale process for the Food Ingredients segment, which had full year 2025 reported sales of $3.28 billion.
- 2026 guidance: sales of $10.5 billion to $10.8 billion and adjusted operating EBITDA of $2.05 billion to $2.15 billion.
- Full year 2025 cash flow from operations of $850 million and free cash flow of $256 million; net debt to credit-adjusted EBITDA of 2.6x.
03—Questions
Frequently Asked Questions
How did IFF perform in 2025 on a reported basis?
Reported net sales were $10.89 billion, down (5)% from the prior year. The company reported a loss before taxes of $412 million and a reported EPS loss of $(1.46). Results were weighed down by a $1.153 billion goodwill impairment related to the Food Ingredients reporting unit.
What did IFF say about underlying performance excluding divestitures?
On a comparable, currency neutral basis, full year 2025 sales increased 2%, and comparable currency neutral adjusted operating EBITDA increased 7%. For the fourth quarter, comparable currency neutral sales increased 1% and comparable currency neutral adjusted operating EBITDA increased 7%.
What is IFF's outlook for 2026?
IFF expects 2026 sales of $10.5 billion to $10.8 billion and adjusted operating EBITDA of $2.05 billion to $2.15 billion. It expects comparable currency neutral sales growth of 1% to 4% and comparable currency neutral adjusted operating EBITDA growth of 3% to 8%. Foreign exchange is expected to have an approximately 1% positive impact on sales growth, and divestitures an approximately 5% adverse impact on both sales and adjusted operating EBITDA growth.
What strategic actions did IFF announce?
IFF launched a sale process for its Food Ingredients segment and completed several divestitures, including Pharma Solutions and Nitrocellulose in May 2025. The Soy Crush, Concentrates, and Lecithin business divestiture is assumed to close on March 31, 2026, and is included in 2026 guidance for three months.
Where can investors find the full annual report and the webcast?
The company's Annual Report on Form 10-K will be available on its website at www.iff.com or at www.sec.gov by March 2, 2026. A live webcast on February 12, 2026, at 9:00 a.m. ET will discuss the results and 2026 outlook, with access on the company's IR website at ir.iff.com, and a recording will be available afterward.
04—Continue