International Flavors & Fragrances Lifts FY22 Revenue Outlook

(RTTNews) - While reporting its first-quarter results on Monday, International Flavors & Fragrances Inc. (IFF) lifted sales outlook for the full year 2022.

The company expects full-year sales to be about $12.6 billion to $13.0 billion, up from previous guidance of $12.3 billion to $12.7 billion. Analysts polled by Thomson Reuters currently estimate revenues of $11.87 billion for the year.

The company continues to expect full-year 2022 adjusted operating EBITDA of about $2.5 billion to $2.6 billion.

The company said it updated full year guidance reflects the expected Microbial Control divestiture, which is anticipated to be complete on July 1, 2022, versus June 1, 2022 previously expected, as well as the addition of the Health Wright Products acquisition, which closed on April 1, 2022.