Ingredion ( (INGR) ) has released its Q3 earnings. Here is a breakdown of the information Ingredion presented to its investors.
Ingredion Incorporated, based in Westchester, Illinois, is a global leader in providing ingredient solutions to the food and beverage manufacturing industry, utilizing grains, fruits, vegetables, and other plant-based materials to create value-added products for various markets.
The company has reported strong financial results for the third quarter of 2024, witnessing significant growth in both operating income and earnings per share (EPS), prompting a positive revision of its full-year outlook.
Key highlights from the earnings report include a 26% increase in reported operating income and a 31% rise in adjusted EPS compared to the same period last year. The company also noted a 20% increase in reported EPS and a 29% increase in adjusted operating income, underscoring robust performance across its segments, particularly in Texture and Healthful Solutions, and Food and Industrial Ingredients LATAM. The company’s strategic focus on contract management and cost savings has helped mitigate the challenges of input and wage cost inflation. Moreover, the sale of its South Korea business has impacted sales volumes but contributed positively to financial performance.
Despite an 8% decrease in net sales for the third quarter compared to the previous year, the company’s efforts in operational excellence and strategic pricing adjustments have facilitated strong margin recovery and cash flow generation. Additionally, the improved sales volume in the U.S. and Europe, along with structural savings initiatives, have bolstered its financial standing.
Looking ahead, Ingredion’s management remains optimistic about sustaining growth into the fourth quarter and 2025, continuing to leverage its Driving Growth Roadmap to foster long-term value creation and deepen customer relationships through innovative ingredient solutions.
