NEW YORK (AP) — NEW YORK (AP) — International Flavors & Fragrances Inc. (IFF) on Monday reported first-quarter net income of $60 million.
On a per-share basis, the New York-based company said it had net income of 23 cents. Earnings, adjusted for amortization costs and costs related to mergers and acquisitions, came to $1.13 per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 84 cents per share.
The ingredients producer for food, cosmetics and consumer products industries posted revenue of $2.9 billion in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $2.81 billion.
International Flavors expects full-year revenue in the range of $10.8 billion to $11.1 billion.
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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
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