Flavor and fragrance producer IFF (NYSE: IFF) will be reporting results this Wednesday after market close. Here’s what investors should know.

International Flavors & Fragrances beat analysts’ revenue expectations by 2.1% last quarter, reporting revenues of $2.69 billion, down 7.9% year on year. It was a strong quarter for the company, with an impressive beat of analysts’ organic revenue estimates and a solid beat of analysts’ EBITDA estimates.

Is International Flavors & Fragrances a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, analysts are expecting International Flavors & Fragrances’s revenue to decline 9.2% year on year to $2.52 billion, a reversal from the 2.5% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.83 per share.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. International Flavors & Fragrances has a history of exceeding Wall Street’s expectations, beating revenue estimates every single time over the past two years by 2.2% on average.

Looking at International Flavors & Fragrances’s peers in the ingredients, flavors & fragrances segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Bunge Global delivered year-on-year revenue growth of 75.5%, beating analysts’ expectations by 6.1%, and Archer-Daniels-Midland reported a revenue decline of 13.7%, falling short of estimates by 12.6%. Bunge Global traded down 2.5% following the results while Archer-Daniels-Midland was also down 1.1%.

Read our full analysis of Bunge Global’s results here and Archer-Daniels-Midland’s results here.

There has been positive sentiment among investors in the ingredients, flavors & fragrances segment, with share prices up 5.8% on average over the last month. International Flavors & Fragrances is up 9% during the same time and is heading into earnings with an average analyst price target of $82.32 (compared to the current share price of $75.06).

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