Ingredion Q3 2024 Earnings Report
Key Takeaways
Ingredion Incorporated reported a strong third quarter in 2024, with reported and adjusted operating income increasing by 26% and 29%, respectively. Reported and adjusted EPS also saw increases of 20% and 31%, respectively. The company raised its guidance for full-year reported EPS to be in the range of $10.60 to $10.90 and adjusted EPS to be in the range of $10.35 to $10.65.
Third quarter 2024 reported and adjusted operating income increased 26% and 29% compared to prior year.
Third quarter 2024 reported and adjusted EPS were $2.83 and $3.05, an increase of 20% and 31%, respectively.
Texture & Healthful Solutions exhibited robust sales volume growth, supporting double-digit operating income growth for the segment.
Company is raising guidance for full-year reported EPS to be in the range of $10.60 to $10.90 and adjusted EPS to be in the range of $10.35 to $10.65.
Ingredion
Ingredion
Ingredion Revenue by Segment
Forward Guidance
The Company expects full-year 2024 net sales to be down mid-single-digits, excluding the effects of the sale of our South Korea business completed on February 1, 2024. Reported operating income is expected to be flat and adjusted operating income is now expected to be up high single-digits, excluding the effects of the sale of our South Korea business. The Company expects its full-year 2024 reported EPS to be in the range of $10.60 to $10.90, which includes the impact of the gain on the sale of our South Korea business. The Company now anticipates adjusted EPS to be in the range of $10.35 to $10.65.
Revenue & Expenses
Visualization of income flow from segment revenue to net income