|
|
|
|
|
|
- Fourth quarter 2016 reported and adjusted EPS* were $1.26 and $1.67, respectively, compared to fourth quarter 2015 of both reported and adjusted EPS of $1.42
- Full-year 2016 reported and adjusted EPS were $6.55 and $7.13, respectively, up from $5.51 and $5.88 in the year-ago period, respectively
- Record cash flow from operations of $771 million
- 2017 adjusted EPS is expected to be $7.40-$7.80 |
WESTCHESTER, Ill., Feb 2, 2017 - (ACN Newswire) - Ingredion Incorporated (NYSE: INGR), a leading global provider of ingredient solutions to diversified industries, today reported results for the fourth quarter 2016. The results reported in accordance with U.S. generally accepted accounting principles ("GAAP") for 2016 and 2015 include items which are excluded from the non-GAAP financial measures which we present.
"We concluded 2016 with record earnings per share and operating income, and significant progress on our strategic blueprint. Sales of our higher-value specialty portfolio grew to 26 percent of net sales for the year and our acquisitions of TIC Gums and Shandong Huanong Specialty Corn were completed in the fourth quarter," said Ilene Gordon, chairman, president and chief executive officer. "For the year, more favorable price/product mix across the portfolio, as well as our global optimization efforts drove margin expansion. North America, Asia Pacific and EMEA achieved record operating income year-over-year. South America, although down, accelerated regional network optimization and restructuring efforts to offset difficult macroeconomic conditions and foreign-exchange headwinds.
"We remain committed to creating long-term shareholder value. We expect continued growth in our specialty portfolio, disciplined cost management, and ongoing capital investments for margin expansion. And, we will explore potential M&A opportunities that drive specialty growth. For 2017, we anticipate adjusted EPS of $7.40 to $7.80," Gordon added.
4Q16 earnings release FINAL: http://hugin.info/147221/R/2075402/780370.pdf
Conference Call and Webcast
Ingredion will conduct a conference call today at 9:00 a.m. Eastern Time (8:00 a.m. Central Time) to be hosted by Ilene Gordon, chairman, president and chief executive officer, and Jack Fortnum, executive vice president and chief financial officer.
The call will be webcast in real time, and will include a visual presentation accessible through the Ingredion website at www.ingredion.com. The presentation will be available to download a few hours prior to the start of the call. A replay of the webcast will be available at www.ingredion.com.
ABOUT THE COMPANY
Ingredion Incorporated (NYSE: INGR) is a leading global ingredient solutions provider. We turn grains, fruits, vegetables and other plant materials into value-added ingredients and biomaterial solutions for the food, beverage, paper and corrugating, brewing and other industries. Serving customers in over 100 countries, our ingredients make crackers crunchy, yogurts creamy, candy sweet, paper stronger and add fiber to nutrition bars. Visit ingredion.com to learn more.
CONTACT:
Investors: Heather Kos, 708-551-2592
Media: Claire Regan, 708-551-2602
###
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Ingredion Incorporated via Globenewswire
Topic: Earnings
Source: Ingredion Incorporated
http://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
|
|
|
|
|
|
|
| Ingredion Incorporated |
| Apr 25, 2019 23:00 HKT/SGT |
|
Ingredion Leads Series B Funding for Clara Foods and Continues Expanding Its Protein Portfolio |
| Apr 15, 2019 23:00 HKT/SGT |
|
Janet Bawcom Joins Ingredion as General Counsel and Corporate Secretary |
| Mar 21, 2019 08:00 HKT/SGT |
|
Ingredion Incorporated Declares Quarterly Dividend of $0.625 Per Share |
| Feb 5, 2019 19:00 HKT/SGT |
|
Ingredion Incorporated Reports Fourth Quarter and Full-Year 2018 Results |
| Feb 5, 2019 09:00 HKT/SGT |
|
Ingredion to Present at the Consumer Analyst Group of New York (CAGNY) Conference on Tuesday, February 19, 2019 |
| Jan 15, 2019 09:00 HKT/SGT |
|
Ingredion to Release 2018 Fourth-Quarter and Year-End Financial Results and Hold Conference Call and Webcast On Tuesday, February 5, 2019 |
| Dec 15, 2018 00:00 HKT/SGT |
|
Ingredion Incorporated Declares Quarterly Dividend of $0.625 Per Share |
| Dec 13, 2018 23:00 HKT/SGT |
|
Ingredion Invests $140 Million to Accelerate Growth in Plant-Based Proteins |
| Dec 5, 2018 22:00 HKT/SGT |
|
Ingredion Introduces Astraea Allulose; New Rare Sugar Provides Great Taste with Fewer Calories |
| Oct 24, 2018 09:00 HKT/SGT |
|
Ingredion Announces Preliminary Third Quarter 2018 EPS and Adjusted EPS, Revises Adjusted EPS Guidance; Board Authorizes Repurchase of up to an Additional 8 Million Shares |
| More news >> |
 |
|
|
|
