Plus   Neg

IFF To Be Organized Into Three Business Segments

International Flavors & Fragrances Inc. (IFF) will be organized into three business segments--Taste, Scent and Nutrition & Ingredients. The company announced the new organizational structure to align with its Vision 2021 strategy. The new structure will be fully implemented over the next twelve months, the company said.

Under the Vision 2021, the company will invest in high-growth and high-return platforms to continue to drive its R&D pipeline and accelerate long-term growth.

For the full year 2019, the company still expects earnings per share, excluding amortization, to be in the range of $6.30 - $6.50, adjusted earnings per share of $4.90 - $5.10, and sales of $5.2 billion - $5.3 billion. Analysts polled by Thomson Reuters expect the company to report earnings of $6.37 per share and revenues of $5.25 billion for 2019. Analysts' estimates typically exclude special items.

The company also reconfirmed its long-term financial targets for 2019-2021. It still projects currency neutral earnings per share growth, excluding amortization, to be 10%+, and 5%-7% currency neutral sales growth.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. Food and Drug Administration approved an all-time record total of 1,171 generic drugs in fiscal 2019, breaking its previous record of 971 approvals in fiscal 2018. This year's approvals include 935 full approvals and 236 tentative approvals. A generic drug is a pharmaceutical drug that contains the same chemical substance and performs the same functions as a branded drug. Air Canada has extended its grounding of Boeing's 737 MAX-8 aircraft and removed it from its flying schedule until February 14, 2020. The airline had earlier said its fleet of 24 grounded jetliners will not join its schedules until January 8, 2020. The Canadian flag carrier said the extension is a result of the ongoing regulatory uncertainty about the timing of the aircraft returning to service. Google rolled out its Live Caption feature, which was first introduced at its I/O developer conference in May this year. The technology will automatically caption videos and spoken audio on a device, except for phone and video calls. It is helpful when a user is in a loud commuter train, or wants to follow along the conversation more closely.
Follow RTT