UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 or o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-13397 INGREDION INCORPORATED (Exact name of registrant as specified in its charter) Delaware 22-3514823 (State or other jurisdictio ...

2024 年第二季度报告和调整后的营业收入*与上年同期相比分别下降4% 和 增长 8%2024 年第二季度报告和调整后的每股收益*为 2.22 美元和 2.87 美元，分别下降 8% 和增长 24%将全年报告每股收益指引提高至 10.20 美元至 10.70 美元之间，调整后的每股收益提高到 9.70 美元至 10.20 美元之间 伊利诺伊州威斯特彻斯特, Aug. 08, 2024 (GLOBE NEWSWIRE) -- Ingredion Incorporated (纽约证券交易所交易代码：INGR) 是一家全球领先的食品和饮料制造行业原料解决方案提供商，于今日发布 2024 年第二季度业绩。 2024 年第二季度和 2023 年第二季度的业绩根据美国公认会计原则 (“GAAP”) 报告，包括了公司呈报的非 GAAP 财务指标中排除的项目。 Ingredion 总裁兼首席执行官 Jim Zallie 表示：“在纹理与健康解决方案部的带领下，Ingredion 第二季度实现了大幅增长，销量同比增长 8%。 此外，我们的食品和工业部门很好地应对了强劲的客户需求，实现了超乎寻常的利润增长。” “本季度，我们还部 ...

Ingredion Incorporated (NYSE:INGR) Q2 2024 Earnings Conference Call August 6, 2024 9:00 AM ET Corporate Participants Noah Weiss - Vice President, Investor Relations Jim Zallie - President and Chief Executive Officer Jim Gray - Executive Vice President and Chief Financial Officer Conference Call Participants Kristen Owen - Oppenheimer Josh Spector - UBS Adam Samuelson - Goldman Sachs Andrew Strelzik - BMO Capital Markets Ben Theurer - Barclays Heather Jones - Heather Jones Research Operator Good day and than ...

Second Quarter 2024 Earnings Call Jim Zallie President and CEO James Gray Executive Vice President and CFO Non-GAAP Financial Measures This presentation provides information about adjusted diluted earnings per share ("adjusted EPS"), adjusted operating income, adjusted effective income tax rate, and other financial measures (collectively, the "non-GAAP financial measures") which are not measurements of financial performance calculated in accordance with U.S. generally accepted accounting principles ("GAAP") ...

Ingredion (INGR) came out with quarterly earnings of $2.87 per share, beating the Zacks Consensus Estimate of $2.53 per share. This compares to earnings of $2.32 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 13.44%. A quarter ago, it was expected that this food sweetener, starch and nutritional ingredient company would post earnings of $2.08 per share when it actually produced earnings of $2.08, delivering no surprise. Over ...

Financial Performance - Second quarter 2024 reported operating income declined 4% to $240 million, while adjusted operating income increased 8% to $270 million compared to the prior year[1][10]. - Reported diluted EPS for Q2 2024 was $2.22, an 8% decrease year-over-year, while adjusted diluted EPS increased 24% to $2.87[1][4]. - Net sales for Q2 2024 were $1.878 billion, a 9% decrease from $2.069 billion in Q2 2023, primarily due to lower raw material costs and lost sales volume from the sale of the South Korea business[1][9]. - Operating income for Food & Industrial Ingredients - U.S./Canada increased by 31% to $105 million in Q2 2024, driven by lower raw material costs[15]. - The Company's gross profit for Q2 2024 was $446 million, reflecting a 1% increase from $441 million in Q2 2023[30]. - Net income attributable to Ingredion for Q2 2024 was $148 million, a 9% decrease from $163 million in Q2 2023[30]. - The Texture & Healthful Solutions segment reported a 5% decline in net sales for Q2 2024, totaling $588 million compared to $618 million in Q2 2023[34]. - The Food & Industrial Ingredients - U.S./Canada segment saw an 8% decrease in net sales, totaling $555 million in Q2 2024[34]. - The company reported a net income of $368 million for the first six months of 2024, compared to $358 million for the same period in 2023[33]. Guidance and Projections - The company raised its full-year reported EPS guidance to a range of $10.20 to $10.70 and adjusted EPS guidance to a range of $9.70 to $10.20[1]. - For Q3 2024, the Company expects net sales to be flat, with reported and adjusted operating income projected to increase by high-double-digits[19]. - The full-year 2024 reported EPS is expected to be in the range of $10.20 to $10.70, while adjusted EPS is anticipated to be between $9.70 and $10.20[19]. - Full-year 2024 net sales are expected to decline by low single digits, reflecting lower corn values[19]. - Cash from operations for full-year 2024 is projected to be between $800 million and $950 million, with capital expenditures expected to be approximately $340 million[20]. Debt and Cash Management - Total debt as of June 30, 2024, was $1.9 billion, down from $2.2 billion at the end of 2023, while cash and short-term investments increased to $510 million[5]. - Cash provided by operating activities for the first six months of 2024 was $521 million, up from $279 million in the same period of 2023[33]. - Cash and cash equivalents increased to $505 million as of June 30, 2024, compared to $257 million at the end of June 30, 2023[33]. - Current assets decreased to $3,099 million as of June 30, 2024, down from $3,399 million at December 31, 2023[32]. - Total liabilities decreased to $3,442 million as of June 30, 2024, compared to $3,992 million at December 31, 2023[32]. - Retained earnings increased to $4,914 million as of June 30, 2024, up from $4,654 million at December 31, 2023[32]. Taxation - Effective tax rates for Q2 2024 were reported at 34.8% and 25.4% for reported and adjusted rates, respectively, compared to 25.1% and 28.3% in the prior year[5]. - The effective income tax rate for the three months ended June 30, 2024, was 34.8%, while the adjusted effective income tax rate was 25.4%[43]. - The effective tax rate for full-year 2024 is expected to be between 27.0% and 28.0%[19]. - Adjusted Effective Income Tax Rate is projected to be between 26.5% and 27.5% for 2024[47]. - Tax provisions related to the Mexican peso's movement against the U.S. dollar resulted in a tax provision of $10 million for the three months ended June 30, 2024[39]. - Net gain on sale of business contributes 1.3% to the Adjusted ETR[47]. - Impairment charge negatively impacts the Adjusted ETR by 1.0%[47]. - Tax item related to Mexico reduces the Adjusted ETR by 0.5%[47]. - Other tax matters decrease the Adjusted ETR by 0.2%[47]. - Restructuring and resegmentation costs are not expected to impact the Adjusted ETR[47]. - Other matters have a minimal negative effect of (0.1%) on the Adjusted ETR[47]. Strategic Initiatives - The Cost2Compete program aims for $50 million in run-rate savings by the end of 2025, with $18 million already realized[2]. - The company increased its ownership in PureCircle to 98% as part of its sugar reduction strategy, supporting future organic growth[2]. - The company incurred a pre-tax restructuring charge of $3 million for the three months ended June 30, 2024, and a total of $6 million for the six months ended June 30, 2024, related to restructuring activities[39]. - A pre-tax gain of $82 million was recorded on the sale of a business in South Korea, completed on February 1, 2024[39]. - Non-GAAP adjusted net income for the three months ended June 30, 2024, was $192 million, with adjusted diluted EPS of $2.87, compared to $156 million and $2.32 for the same period in 2023, indicating an increase of 23.1% in adjusted net income and 23.8% in adjusted EPS[38].

Second quarter 2024 reported and adjusted operating income* declined 4% and grew 8%, respectively, compared to prior year Second quarter 2024 reported and adjusted EPS* were $2.22 and $2.87, a decrease of 8% and an increase of 24%, respectively Raising guidance for full-year reported EPS to be in the range of $10.20 to $10.70 and adjusted EPS to be in the range of $9.70 to $10.20 WESTCHESTER, Ill., Aug. 06, 2024 (GLOBE NEWSWIRE) -- Ingredion Incorporated (NYSE: INGR), a leading global provider of ingredient ...

Second quarter 2024 reported and adjusted operating income* declined 4% and grew 8%, respectively, compared to prior year Second quarter 2024 reported and adjusted EPS* were $2.22 and $2.87, a decrease of 8% and an increase of 24%, respectively Raising guidance for full-year reported EPS to be in the range of $10.20 to $10.70 and adjusted EPS to be in the range of $9.70 to $10.20 WESTCHESTER, Ill., Aug. 06, 2024 (GLOBE NEWSWIRE) -- Ingredion Incorporated (NYSE: INGR), a leading global provider of ingredient ...

Yagi Studio/DigitalVision via Getty Images Everyday Food Ingredients The Performance Improves After a strong margin performance in the first quarter of 2023, the company hiked the full-year earnings guidance in a convincing manner, while it cut the full year sales guidance to around 10%. Trading at 12 times adjusted earnings, while leverage was modest, valuations looked compelling. However, the unusual strong first quarter margin performance was welcomed, but it could open the door for setback as well, cert ...

Plant-based stocks have seen somewhat of a decline in recent months, but the long-term outlook remains promising. The concept of plant-based eating is no novelty and has been around for centuries. But in recent years, a greater focus on consuming healthier and more sustainable food has put plant-based companies in the spotlight. But while the macroeconomic trends point towards growth in the category, higher inflation and a cold front on financing have led to a recent decline in share prices. This growth wil ...