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International Flavors: 3Q Earnings Snapshot

·1 min read

NEW YORK (AP) _ International Flavors & Fragrances Inc. (IFF) on Monday reported third-quarter net income of $84.8 million.

On a per-share basis, the New York-based company said it had net income of 75 cents. Earnings, adjusted for non-recurring costs, were $1.40 per share.

The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.45 per share.

The ingredients producer for food, cosmetics and consumer products industries posted revenue of $1.27 billion in the period, which also missed Street forecasts. Four analysts surveyed by Zacks expected $1.28 billion.

International Flavors shares have declined 13% since the beginning of the year, while the Standard & Poor's 500 index has risen nearly 10%. In the final minutes of trading on Monday, shares hit $112.38, a fall of 16% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on IFF at https://www.zacks.com/ap/IFF