International Flavors & Fragrances raised its full-year guidance after seeing a significant recovery in volumes in every division in the third quarter.

The New York-based flavorings and scents company on Tuesday posted a quarterly net profit of $59 million, or 23 cents a share, compared with $25 million, or 10 cents a share, for the same period a year earlier.

Stripping out one-time items, the company's earnings per-share came in at 62 cents.

Revenue rose to $2.93 billion from $2.79 billion for the same period a year earlier.

"Market recovery off prior year lows and our global team's passion to address the needs of our customers drove notable volume recovery in every division," Chief Executive Erik Fyrwald said.

Regarding its outlook for the year, which includes a continued cautiously optimistic outlook for the fourth quarter, the company guided for full-year sales of $11.3 billion to $11.4 billion, up from a prior guidance of $11.1 billion to $11.3 billion.

International Flavors & Fragrances said it also expects the impact from pricing to be flat from prior views for an increase of 1%, and volume to increase 5% to 6% from 3% to 5% previously.

Write to Sabela Ojea at [email protected]; @sabelaojeaguix