04:58 PM EDT, 05/06/2024 (MT Newswires) -- International Flavors & Fragrances ( IFF ) late Monday reported Q1 adjusted earnings excluding amortization of $1.13 per share, up from $0.87 a year earlier.

Analysts polled by Capital IQ expected $0.87.

Net sales in the quarter ended March 31 were $2.90 billion, down from $3.03 billion a year earlier.

Analysts surveyed by Capital IQ expected $2.78 billion.

The company said it expects 2024 sales to trend towards the higher end of $10.8 billion to $11.1 billion guidance range. Analysts polled by Capital IQ expect $10.99 billion.

The company also said its Chief Financial and Business Transformation Officer Glenn Richter will retire on Dec. 31 and a succession process has been initiated.

Shares of the company rose more than 3% in recent after-hours activity.

Price: 92.11, Change: +3.45, Percent Change: +3.89