Filing Flows › International Flavors & Fragrances (IFF) › Q2 2026 › vs Q1 2026
International Flavors & Fragrances (IFF) Q2 2026 vs Q1 2026 (quarter over quarter)
International Flavors & Fragrances's revenue fell $787M (-29%) from $2.7B in Q1 2026 to $2.0B in Q2 2026. Gross margin 43.7% against 37.1% (+6.5 pts).
International Flavors & Fragrances, Q2 2026: revenue $2.0B (+2% year over year), operating margin 8.1%, net earnings $51.0M, operating cash flow $422M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Gross margin | 43.7% | 37.1% | +6.5 pts |
| Operating margin | 8.1% | 10.0% | -1.9 pts |
| Net margin | 2.6% | 6.2% | -3.6 pts |
| Free cash flow margin | 14.6% | 3.4% | +11.3 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Revenue | $2.0B | $2.7B | −$787M | -29% |
| Gross profit | $853M | $1.0B | −$165M | -16% |
| Cost of revenue | $1.1B | $1.7B | −$622M | -36% |
| Operating profit | $158M | $273M | −$115M | -42% |
| Operating expenses | $695M | $745M | −$50.0M | -7% |
| Pre-tax earnings | $82.0M | $209M | −$127M | -61% |
| Other expense, net | $76.0M | $64.0M | $12.0M | +19% |
| Research & development | $170M | $166M | $4.0M | +2% |
| SG&A | $437M | $427M | $10.0M | +2% |
| Other operating costs | $88.0M | $152M | −$64.0M | -42% |
| Net earnings | $51.0M | $170M | −$119M | -70% |
| Income tax | $31.0M | $39.0M | −$8.0M | -21% |
| Depreciation & amortization | $218M | $246M | −$28.0M | -11% |
| Share-based compensation | $35.0M | $16.0M | $19.0M | +119% |
| Working capital & other | $118M | −$175M | $293M | — |
| Operating cash flow | $422M | $257M | $165M | +64% |
| Free cash flow (OCF − capex) | $286M | $92.0M | $194M | +211% |
| Capital expenditures | $136M | $165M | −$29.0M | -18% |
Questions
How much did International Flavors & Fragrances's revenue grow quarter over quarter in Q2 2026?
International Flavors & Fragrances's revenue fell $787M (-29%) from $2.7B in Q1 2026 to $2.0B in Q2 2026. Gross margin 43.7% against 37.1% (+6.5 pts).