IFF Announces Frutarom Acquisition With 1Q Results; Lowering FVE To $137 On Lofty Purchase Price
IFF issued encouraging first-quarter earnings, as both the flavors and fragrances segments delivered solid revenue and profit growth from the prior-year period. Management left 2018 guidance unchanged, pointing to sales growth of 6% to 8%, adjusted operating income growth of 6.5% to 8.5%, and adjusted earnings growth of 5.5% to 7.5%. Our estimates sit near the high end of each range. Having updated our valuation model, our fair value estimate would have increased slightly on time value of money ...International Flavors & Fragrances is a creator and manufacturer of taste, scent and complementary adjacent products, including cosmetic active and natural health ingredients. The company's operating segments are Taste and Scent. The Taste segment develops a range of different flavors and taste offerings for its customers, most of which are tailor-made. The company's Taste business is comprised of various portfolios across flavor compounds, savory solutions, inclusions and nutrition and specialty ingredients. The Scent segment creates fragrance compounds and fragrance ingredients for the household and personal care products. The company also produces cosmetic active and functional ingredients for use in cosmetics.
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.
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