Report
Adam Kindreich, CFA
EUR 147.86 For Business Accounts Only

Update on Ingredients Sector Following Earnings Reports

All nine ingredients companies we follow have now reported earnings results. These mostly ranged from in line to disappointing, with only Ingredion's results being (once again) above expectations. In terms of our fair value estimates, four stocks saw no revision (Kerry, Givaudan, International Flavors & Fragrances, Glanbia); only one saw a downgrade (Symrise, by 3%); and four saw significant upgrades (Ingredion by 12%, Christian Hansen by 13%, Tate & Lyle by 15%, and Barry Callebaut by 1...
Underlying
Givaudan SA

Givaudan is engaged in the fragrance and flavour industry. Co. provides its products to global, regional and local food, beverage, consumer goods and fragrance companies. Co. has two principal divisions: Fragrance, which manufactures and sales fragrances into three global business units: Fine Fragrances, Consumer Products, and Fragrance & Cosmetic Ingredients; and Flavour, which manufactures and sales fragrances into four business units: Beverages, Dairy, Savoury and Sweet Goods. In addition, Co. has distribution network in more than 40 countries.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Adam Kindreich, CFA

Other Reports on these Companies
Other Reports from Morningstar

ResearchPool Subscriptions

Get the most out of your insights

Get in touch