Ingredion Incorporated (NYSE:INGR) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Ingredion Incorporated Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 11.9% to $1.41 in the quarter versus EPS of $1.26 in the year-earlier quarter.
Revenue: Decreased 4.46% to $1.58 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Ingredion Incorporated reported adjusted EPS income of $1.41 per share. By that measure, the company beat the mean analyst estimate of $1.33. It missed the average revenue estimate of $1.66 billion.
Quoting Management: “We are pleased with the first quarter results which were highlighted by operating income and earnings per share growth. Contributing to the growth was good performance in the North America, Asia Pacific and Europe/Middle East/Africa regions,” said Ilene Gordon, chairman, president and chief executive officer. “Our South American region continues to effectively manage through the ongoing difficult environment, which includes lower economic growth, inflation and currency devaluations. In spite of these factors, South America operating income was down only $2 million.”
Key Stats (on next page)…