Ingredion Inc reports results for the quarter ended in January 1 - Earnings Summary

Ingredion

06/11/2024 04:48

* Ingredion Inc  INGR.N  reported quarterly adjusted
earnings of
$3.05​​ per share for the quarter ended January 1, higher than
the same quarter last year, when the company reported EPS of
$2.33.  The mean expectation of five analysts for the quarter
was for earnings of $2.58 per share. Wall Street expected
results to range from $2.55  to $2.65 per share.
    * Revenue fell 8% to $1.87 billion from a year ago; analysts
expected $1.95 billion. 
    * Ingredion Inc's reported EPS for the quarter was $2.83​.
    * The company reported quarterly net income of $188 million.
    * Ingredion Inc shares had fallen by 2.5% this quarter and
gained 23.5% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 0.9%
in the last three months.​ 
    * In the last 30 days, there have been no negative revisions
of
earnings estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 4 "strong buy" or "buy," 1
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the food
processing
peer group is also "buy"

Wall Street's median 12-month price target for Ingredion Inc is
146.00 
This summary was machine generated from LSEG data November 6 at
04:48 a.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Sep. 30 2024      2.58           3.05           Beat
 Jun. 30 2024      2.49           2.87           Beat
 Mar. 31 2024      2.06           2.08           Beat
 Dec. 31 2023      1.87           1.97           Beat