Wrapping up Q1 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 Q1. As a group, revenues were in line with analysts’ consensus estimates.

While some ingredients, flavors & fragrances stocks have fared somewhat better than others, they have collectively declined. On average, share prices are down 3.3% 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 $2.74 billion, down 3.6% year on year. This print exceeded analysts’ expectations by 3.9%. Overall, it was a very strong quarter for the company with a solid beat of analysts’ EBITDA and organic revenue estimates.

International Flavors & Fragrances achieved the biggest analyst estimate beat but had the slowest revenue growth of the whole group. Unsurprisingly, the stock is up 18.4% since reporting and currently trades at $83.79.

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

Best Q1: 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 $21.86 billion, up 87.8% year on year, falling short of analysts’ expectations by 3.1%. However, the business still had an exceptional quarter with a beat of analysts’ EPS and EBITDA estimates.

Bunge Global delivered the fastest revenue growth among its peers. Although it had a fine quarter compared to its peers, the market seems unhappy with the results as the stock is down 15.7% since reporting. It currently trades at $106.48.

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

Weakest Q1: 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 $1.79 billion, down 1.2% year on year, in line with analysts’ expectations. It was a softer quarter as it posted a significant miss of analysts’ EBITDA and gross margin estimates.

As expected, the stock is down 8.7% since the results and currently trades at $97.62.

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 $20.49 billion, up 1.6% year on year. This print lagged analysts’ expectations by 1.2%. Overall, it was a slower quarter as it also logged a miss of analysts’ gross margin estimates and a miss of analysts’ EBITDA estimates.

The stock is flat since reporting and currently trades at $76.00.

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

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 $1.55 billion, up 12.3% year on year. This number was in line with analysts’ expectations. However, it was a slower quarter as it recorded a significant miss of analysts’ adjusted operating income estimates.

The stock is down 10% since reporting and currently trades at $56.53.

Read our full, actionable report on Darling Ingredients here, it’s free.

Market Update

Late in 2025 into early 2026, there was hand-wringing around artificial intelligence. For software companies, the fear was that AI would erode pricing power and compress margins as new tools made it easier to replicate what once required expensive enterprise platforms. Crypto investors had their own version of the same anxiety: if AI agents could trade, allocate capital, and manage wallets autonomously, what exactly was the long-term value of today’s crypto infrastructure?

These concerns triggered a noticeable rotation away from these sectors and into safer havens. But markets rarely dwell on one narrative for long. Spring 2026 came, and the focus shifted abruptly from technological disruption to geopolitical risk. The US’ conflict with Iran became the dominant driver of market psychology, and when geopolitics takes center stage, the script changes quickly. Investors stop debating growth rates and start worrying about oil supply, inflation, and global stability.

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