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Why is International Flavors Fragrances Inc (IFF) Stock down?

08 Aug, 2023:

International Flavors & Fragrances' shares dropped 19.37% after reporting weak Q2 results and lowering its FY23 outlook, with revenue of $2.93B missing estimates and a reduced sales guidance of $11.3B-$11.6B from the previous estimate of $12.3B for FY23.

https://www.benzinga.com/news/earnings/23/08/33627656/international-flavors-fragrances-analysts-cut-their-forecasts-after-downbeat-q2-results

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