Ingredion (INGR) Surpasses Q3 Earnings Estimates

Core Insights - Ingredion reported quarterly earnings of $3.05 per share, exceeding the Zacks Consensus Estimate of $2.58 per share, and up from $2.33 per share a year ago, indicating strong performance [1] - The earnings surprise for this quarter was 18.22%, following a previous surprise of 13.44% when earnings were $2.87 per share against an expectation of $2.53 [2] - The company generated revenues of $1.87 billion for the quarter, which fell short of the Zacks Consensus Estimate by 4.35% and decreased from $2.03 billion year-over-year [3] Financial Performance - Over the last four quarters, Ingredion has surpassed consensus EPS estimates three times, showcasing a trend of positive earnings surprises [2] - The stock has appreciated approximately 23.5% since the beginning of the year, outperforming the S&P 500's gain of 19.8% [4] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $2.51, with expected revenues of $1.9 billion, while the estimate for the current fiscal year is $10.05 on $7.62 billion in revenues [8] - The estimate revisions trend for Ingredion is currently favorable, leading to a Zacks Rank 2 (Buy), suggesting that the shares are expected to outperform the market in the near future [7] Industry Context - Ingredion operates within the Zacks Food - Miscellaneous industry, which is currently ranked in the bottom 45% of over 250 Zacks industries, indicating potential challenges in overall industry performance [9] - Another company in the same industry, Aramark, is expected to report a year-over-year earnings decline of 15.6% for the quarter ended September 2024, with revenues projected to decrease by 9.4% [10][11]