Wednesday, International Flavors & Fragrances Inc. (IFF) reported third-quarter net income of $53 million or $0.66 per share, compared to $58 million or $0.73 per share in the same quarter last year.
Excluding non-recurring items, earrings for the quarter were $0.82 per share, up from $0.74 per share in the prior year quarter.
On average, five analysts polled by Thomson Reuters expected the company to earn $0.72 per share for the quarter. Analysts' estimates typically exclude special items.
Net sales for the quarter declined to $612.6 million from $617.5 million in the comparable quarter last year. Analysts expected the company to report revenue of $597.03 million for the quarter.
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