NEW YORK (AP) — NEW YORK (AP) — International Flavors & Fragrances Inc. (IFF) on Tuesday reported third-quarter profit of $40 million.
The New York-based company said it had profit of 16 cents per share. Earnings, adjusted for non-recurring costs, came to $1.05 per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.02 per share.
The ingredients producer for food, cosmetics and consumer products industries posted revenue of $2.69 billion in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $2.63 billion.
International Flavors expects full-year revenue in the range of $10.6 billion to $10.9 billion.
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