International Flavors & Fragrances Inc. Q1 2026 Earnings Recap

IFF’s shares rose 10.6% following the first quarter, driven by better-than-expected volume growth across all segments, strong margin expansion, and improved cash flow despite ongoing global uncertainties.

Key Takeaways

• Revenue grew 3% to over $2.7 billion, supported by mid-single-digit volume growth in Health & Biosciences and low single-digit increases across Taste, Food Ingredients, and Scent.
• Adjusted EBITDA rose 8% to $568 million, with EBITDA margin expanding 110 basis points to 20.7%, the highest since Q2 2022, fueled by productivity improvements and favorable pricing.
• Taste segment sales increased 2% with an 18% EBITDA gain, led by volume and pricing strength, particularly in Greater Asia.
• Food Ingredients posted 3% sales growth and a 12% EBITDA increase, driven by strong volume (5%) and productivity; volume growth was the highest in several years.
• Health & Biosciences delivered 5% volume-driven sales growth across most businesses and 7% EBITDA growth, reflecting robust demand in Animal Nutrition and Food Biosciences.