Wrapping up Q4 earnings, we look at the numbers and key takeaways for the ingredients, flavors & fragrances stocks, including International Flavors & Fragrances (NYSE: IFF) and its peers.

Ingredients, flavors, and fragrances companies supply essential components to food, beverage, personal care, and household product manufacturers. These firms develop proprietary formulations that enhance taste, scent, and texture, creating customer stickiness through specialized expertise and regulatory-approved ingredient portfolios. Tailwinds include growing consumer demand for natural and clean-label products, expansion in emerging markets, and innovation in plant-based and functional ingredients. However, headwinds persist from volatile raw material costs, particularly for agricultural and petrochemical inputs. Regulatory scrutiny over synthetic additives and fragrance allergens poses compliance challenges, while consolidation among major customers increases pricing pressure and negotiating leverage against suppliers.

The 5 ingredients, flavors & fragrances stocks we track reported a mixed Q4. As a group, revenues beat analysts’ consensus estimates by 1.3%.

In light of this news, share prices of the companies have held steady. On average, they are relatively unchanged since the latest earnings results.

International Flavors & Fragrances (NYSE: IFF)

Responsible for the scents in your favorite perfumes and the flavors in your daily snacks, International Flavors & Fragrances (NYSE: IFF) creates and manufactures ingredients for food, beverages, personal care products, and pharmaceuticals used in countless consumer goods.

International Flavors & Fragrances reported revenues of $2.59 billion, down 6.6% year on year. This print exceeded analysts’ expectations by 2.9%. Overall, it was a satisfactory quarter for the company with a solid beat of analysts’ organic revenue estimates but a significant miss of analysts’ EPS estimates.

“IFF delivered a solid 2025 performance, meeting the full-year financial commitments we set at the start of the year, despite a challenging operating environment,” said Erik Fyrwald, CEO of IFF.

Interestingly, the stock is up 2% since reporting and currently trades at $78.48.

Is now the time to buy International Flavors & Fragrances? Access our full analysis of the earnings results here, it’s free.

Best Q4: Darling Ingredients (NYSE: DAR)

Turning what others consider waste into valuable resources, Darling Ingredients (NYSE: DAR) collects and transforms animal by-products, used cooking oil, and other bio-nutrients into valuable ingredients for food, feed, fuel, and industrial applications.

Darling Ingredients reported revenues of $1.71 billion, up 20.6% year on year, outperforming analysts’ expectations by 11.8%. The business had an exceptional quarter with a beat of analysts’ EPS estimates and a solid beat of analysts’ revenue estimates.

Darling Ingredients delivered the biggest analyst estimates beat among its peers. The market seems happy with the results as the stock is up 7.1% since reporting. It currently trades at $53.12.

Is now the time to buy Darling Ingredients? Access our full analysis of the earnings results here, it’s free.

Ingredion (NYSE: INGR)

Known for its ability to turn ordinary corn into thousands of different food ingredients, Ingredion (NYSE: INGR) transforms grains, fruits, vegetables and other plant-based materials into specialty starches, sweeteners and other ingredients for food, beverage and industrial markets.

Ingredion reported revenues of $1.76 billion, down 2.4% year on year, falling short of analysts’ expectations by 1.6%. It was a softer quarter as it posted a significant miss of analysts’ EBITDA estimates and a miss of analysts’ adjusted operating income estimates.

As expected, the stock is down 3.2% since the results and currently trades at $113.61.

Read our full analysis of Ingredion’s results here.

Archer-Daniels-Midland (NYSE: ADM)

Transforming crops from the world's most productive agricultural regions into everyday essentials, Archer-Daniels-Midland (NYSE: ADM) processes and transports agricultural commodities like grains and oilseeds while manufacturing ingredients for food, beverages, feed, and industrial applications.

Archer-Daniels-Midland reported revenues of $18.56 billion, down 13.7% year on year. This number missed analysts’ expectations by 12.6%. Overall, it was a slower quarter as it also logged a significant miss of analysts’ revenue estimates and a significant miss of analysts’ adjusted operating income estimates.

Archer-Daniels-Midland had the weakest performance against analyst estimates and slowest revenue growth among its peers. The stock is down 1.1% since reporting and currently trades at $67.30.

Read our full, actionable report on Archer-Daniels-Midland here, it’s free.

Bunge Global (NYSE: BG)

With origins dating back to 1818 and operations spanning both hemispheres to balance seasonal harvests, Bunge Global (NYSE: BG) is an agribusiness and food company that processes oilseeds, grains, and other agricultural commodities into vegetable oils, protein meals, flours, and specialty ingredients.

Bunge Global reported revenues of $23.76 billion, up 75.5% year on year. This print topped analysts’ expectations by 6.1%. More broadly, it was a slower quarter as it logged full-year EPS guidance missing analysts’ expectations significantly and a significant miss of analysts’ gross margin estimates.

Bunge Global scored the fastest revenue growth among its peers. The stock is down 1.6% since reporting and currently trades at $115.06.

Read our full, actionable report on Bunge Global here, it’s free.

Market Update

As a result of the Fed’s rate hikes in 2022 and 2023, inflation has come down from frothy levels post-pandemic. The general rise in the price of goods and services is trending towards the Fed’s 2% goal as of late, which is good news. The higher rates that fought inflation also didn't slow economic activity enough to catalyze a recession. So far, soft landing. This, combined with recent rate cuts (half a percent in September 2024 and a quarter percent in November 2024) have led to strong stock market performance in 2024. The icing on the cake for 2024 returns was Donald Trump’s victory in the U.S. Presidential Election in early November, sending major indices to all-time highs in the week following the election. Still, debates around the health of the economy and the impact of potential tariffs and corporate tax cuts remain, leaving much uncertainty around 2025.

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