-- 獨立研究機構CFRA向提供了以下研究報告。 CFRA分析師總結如下：IFF公佈了2026年第一季穩健的業績，淨銷售額年減4%至27.4億美元（高於市場普遍預期的26.4億美元），主要原因是已完成的業務剝離；但按固定匯率計算，可比銷售額增長3%，這得益於銷量的全面增長。調整後每股盈餘從1.20美元增加至1.25美元，高於市場普遍預期的1.07美元，主要得益於營運效率的提升。我們認為持續的業務組合轉型是積極的，其中「味覺」業務實現了18%的強勁可比EBITDA成長，「健康與生物科學」業務實現了5%的成長，但「香氛」業務面臨利潤率壓力。儘管面臨業務剝離帶來的不利影響，管理層仍維持了2026年105億至108億美元的銷售額和20.5億至21.5億美元的調整後營運EBITDA的預期。我們認為，自由現金流較去年同期改善1.44億美元至9,200萬美元，以及2.5倍的淨債務槓桿率，都體現了公司強勁的執行力。食品配料業務的剝離進展順利，大豆壓榨業務已於3月2日完成交割，這進一步鞏固了公司專注於高利潤率特種解決方案的策略方向。
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