Givaudan Q1 Sales Beat, Shares Rise 5%

Givaudan reported CHF 1.88 bn Q1 sales, LFL growth 2.8% beating consensus 2.2% and Jefferies 2.2%.
Fragrance & Beauty division drove growth with 5.9% LFL sales increase, led by Fine Fragrances (+9.6%) and Consumer Products (+7.8%).
Taste & Wellbeing sales fell 0.4% LFL, missing consensus by 90 bps, with reported sales down 10% amid weak beverages and savoury.
Shares jumped over 5% after the beat; company plans price hikes and surcharges to offset rising input costs and freight expenses.