International Flavors & Fragrances tops quarterly expectations on higher pricing

International Flavors & Fragrances (IFF) topped market expectations for third-quarter profit and sales, buoyed by higher pricing for its food ingredients and fragrance solutions as well as easing input costs. IFF had bumped up product prices in some of its segments to help protect margins, as it battled higher input costs at the start of the year and a slowdown in demand for its food ingredients business. Sustained demand for its scent and health solutions segments has helped offset the pressure on its food ingredients business, as consumers continued to prioritize health and wellness even in a difficult macroeconomic environment.