NEW YORK (AP) — NEW YORK (AP) — International Flavors & Fragrances Inc. (IFF) on Tuesday reported third-quarter net income of $59 million.
The New York-based company said it had profit of 23 cents per share. Earnings, adjusted for non-recurring costs, were $1.04 per share.
The results fell short of Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.06 per share.
The ingredients producer for food, cosmetics and consumer products industries posted revenue of $2.93 billion in the period, topping Street forecasts. Five analysts surveyed by Zacks expected $2.83 billion.
International Flavors expects full-year revenue in the range of $11.3 billion to $11.4 billion.
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