Ingredion First Quarter 2024 Earnings: EPS Beats Expectations, Revenues Lag

Ingredion (NYSE:INGR) First Quarter 2024 Results

Key Financial Results

• Revenue: US$1.88b (down 12% from 1Q 2023).
• Net income: US$216.0m (up 13% from 1Q 2023).
• Profit margin: 12% (up from 8.9% in 1Q 2023). The increase in margin was driven by lower expenses.
• EPS: US$3.29 (up from US$2.89 in 1Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Ingredion EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 6.6%. Earnings per share (EPS) exceeded analyst estimates by 36%.

Looking ahead, revenue is forecast to grow 2.6% p.a. on average during the next 3 years, compared to a 2.9% growth forecast for the Food industry in the US.

Performance of the American Food industry.

The company's shares are up 3.6% from a week ago.

Risk Analysis

We don't want to rain on the parade too much, but we did also find 2 warning signs for Ingredion (1 is potentially serious!) that you need to be mindful of.

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