IFF Issues Encouraging Results as 2Q Profits Improve; Maintaining $143 FVE
International Flavors & Fragrances reported solid second-quarter results as companywide adjusted operating profits grew 4% versus the same period last year. This progress aligns with management's full-year guidance for adjusted operating profit growth of 4%-5%, including currency effects. Having updated our valuation model, we maintain our $143 fair value estimate for narrow-moat IFF.IFF generated 8% currency-neutral sales growth in the second quarter, with the majority driven by the contri...
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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