Ingredion gains on upbeat profit forecast
03/05/2023 14:46
** Shares of food processing company Ingredion Inc INGR.N
up 3.7% at $109.56
** Stock hits highest level in nearly five years
** Forecasts full year adj. profit in the range of
$8.70/shr-$9.40/shr, up from prior range of $7.70/shr-$8.40/shr
** Co posts Q1 adj profit $2.85/shr, above est. of $2.17/shr
- Refinitiv
** Also reports 13% increase in Q1 rev at $2.14 bln
** Up to last close, INGR up 7.9% YTD
(Reporting by Anandita Mehrotra in Bengaluru)
((Anandita.Mehrotra@thomsonreuters.com))