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Ingredion Inc Up 2.22% To $92.88 After Earnings Beat

Tuesday, August 09, 2022 12:49 PM | InvestorsObserver Analysts
Ingredion Inc Up 2.22% To $92.88 After Earnings Beat

Ingredion Inc (INGR) said before open Tuesday that it earned $2.12 per share in quarter two 2022. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.

On the revenue line, the company reported $2 billion, beating estimates by $134 million.

In the same quarter a year ago, the company earned $2.05 per share on revenue of $1.8 billion.

The stock is up 2.22% to $92.88 after the report.

Ingredion Inc's revenue expanded at a faster pace than earnings, signaling a decline in profit margins.

Wall Street Analysts had an average rating of Buy on the stock prior to the report.

Trading in the five days leading up to the report earned Ingredion Inc a Bullish Sentiment Rank from InvestorsObserver.

Ingredion Inc has been a strong performer over the past few months, garnering a high Long-Term Technical Rank by InvestorsObserver of 92, putting Ingredion Inc in the top 25% of stocks. The firm set a 52-week low on March 8, 2022 at $81.25 and set a 52-week high on January 20, 2022 at $101.89.

Ingredion manufactures ingredients for the food, beverage, paper, and personal-care industries. Sweeteners (syrups, maltodextrins, dextrose, and polyols) account for about 35% of sales, starches (for food and industrial use) around 45%, and co-products the balance. Value-added, specialty ingredients account for roughly one third of sales, with the balance being commodity-grade ingredients. With the majority of sales outside the U.S., Ingredion is a global player with good exposure to developing markets, including Latin America and Asia-Pacific.

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