Ingredion Incorporated Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 07, 2023 at 11:16 am
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Ingredion Incorporated reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 2,033 million compared to USD 2,023 million a year ago. Net income was USD 158 million compared to USD 106 million a year ago. Basic earnings per share from continuing operations was USD 2.39 compared to USD 1.61 a year ago. Diluted earnings per share from continuing operations was USD 2.36 compared to USD 1.59 a year ago.
For the nine months, sales was USD 6,239 million compared to USD 5,959 million a year ago. Net income was USD 512 million compared to USD 378 million a year ago. Basic earnings per share from continuing operations was USD 7.75 compared to USD 5.69 a year ago. Diluted earnings per share from continuing operations was USD 7.63 compared to USD 5.63 a year ago.
Ingredion Incorporated is a global ingredients solutions provider that transforms grains, fruits, vegetables, and other plant-based materials into value-added ingredient solutions for the food, beverage, animal nutrition, brewing and industrial markets. It develops, produces, and sells a variety of food and beverage ingredients, primarily starches and sweeteners, for various industries. It operates through four segments: North America, South America, Asia-Pacific, and Europe, Middle East and Africa (EMEA). Its products are derived primarily from the processing of corn and other starch-based materials, such as tapioca, potato, and rice. Its product lines include starches and sweeteners, animal feed products and edible corn oil. The starch-based products include both food-grade and industrial starches, as well as biomaterials. The sweetener products include glucose syrups, high maltose syrups, high fructose corn syrup, caramel color, dextrose, maltodextrins, and glucose and syrup solids.
INGREDION INCORPORATED 
