International Flavors & Fragrances (IFF) Revenue — Quarter Ended Mar 31, 2024
Revenue in the current quarter declined from the same period last year, while improving from the immediately preceding quarter. The company reported an operating profit increase compared to a year ago.
Key takeaway
Quarter ended Mar 31, 2024 · FY2024 Q1
Revenue in the current quarter declined from the same period last year, while improving from the immediately preceding quarter. The company reported an operating profit increase compared to a year ago.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$2.9B
Revenue reported for this quarter.
Quarter-over-quarter
+7.3%
Change from the immediately preceding quarter.
Year-over-year
-4.2%
Change from the comparable year-ago quarter.
Trailing four quarters
$11.4B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Jun 30, 2023 | $2.9B | -11.4% |
| Sep 30, 2023 | $2.8B | -7.9% |
| Dec 31, 2023 | $2.7B | -5.0% |
| Mar 31, 2024 | $2.9B | -4.2% |
Revenue performance
Revenue was lower year over year, reflecting ongoing challenges, but the gross margin improved. Operating profit grew significantly, driven by lower restructuring charges and cost of goods sold.
Quarterly comparison
Compared to the prior quarter, revenue rose, reversing the declining trend seen in the prior three quarters. Versus the same quarter a year earlier, revenue decreased, though the rate of decline narrowed from prior quarters.
What to watch
The company will need to sustain the sequential revenue recovery amid fluctuating demand patterns.