International Flavors & Fragrances Inc (IFF) released its first quarter results on Monday, May 10, 2021. The company reported net earnings of $-0.20 per share for the first quarter ending March 31, 2021. Earnings for this past quarter declined 118 percent compared to the same period a year ago.
International Flavors & Fragrances Inc. was founded in 1833 and is headquartered in New York, New York. International Flavors & Fragrances Inc., together with its subsidiaries, manufactures and sells cosmetic active and natural health ingredients for use in various consumer products in Europe, Africa, the Middle East, Greater Asia, North America, and Latin America. It operates through four segments: Nourish, Scent, Health & Biosciences, and Pharma Solutions.
International Flavors & Fragrances' revenue increased 20 percent over the past trailing twelve-month period versus the previous twelve-month period. Gross margins decreased to 34.16% for the first quarter compared to the same period in the previous year, and operating margins decreased to 3.85% over the same period. Net earnings for past trailing twelve months were $191.92 million, down 60% from the prior year.
Moving on to the balance sheet, International Flavors & Fragrances' cash levels jumped 98% for the first quarter over the same period last year. Overall liquidity of the balance sheet, as measured by the current ratio, decreased 4.14% this past year. The current ratio for International Flavors & Fragrances now stands at 1.89. The company increased shares outstanding by 132.99%.
Shares of IFF are currently trading around $138.68. In terms of valuation, the stock is trading at a trailing twelve-month price to earnings ratio of 74.78 and price to book ratio of 1.32.