Ingredion gains on upbeat profit forecast

Ingredion

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))