|- Fourth quarter 2017 reported and adjusted EPS were $1.35 and $1.73, respectively, up from fourth quarter 2016 reported and adjusted EPS of $1.26 and $1.67, respectively|
- Full-year 2017 reported and adjusted EPS were $7.06 and $7.70, respectively, up from $6.55 of reported EPS and $7.13 adjusted EPS in the year-ago period
- 2018 adjusted EPS expected to be in the range of $8.10-$8.50, which includes an estimated one percentage point lower effective tax rate from U.S. tax reform
WESTCHESTER, Ill., Feb 1, 2018 - (ACN Newswire) - Ingredion Incorporated (NYSE:INGR), a leading global provider of ingredient solutions to diversified industries, today reported results for the fourth quarter 2017. The results reported in accordance with U.S. generally accepted accounting principles ("GAAP") for 2017 and 2016 include items which are excluded from the non-GAAP financial measures which we present.
"We concluded 2017 with record earnings per share and operating income. Sales of our higher-value specialty portfolio grew to 28 percent of net sales for the year and the continued integration of our acquisitions of the Sun Flour rice business, TIC Gums and Shandong Huanong Specialty Corn position us for continued growth," said Jim Zallie, president and chief executive officer. "For the year, specialty-related volume growth, as well as our global optimization efforts drove margin expansion. North America, Asia Pacific and EMEA achieved record operating income. South America, although down, completed an important organizational restructuring, enabling a more cost competitive position going forward.
"We expect continued growth in our specialty portfolio, disciplined cost management, and ongoing capital investments to support margin expansion. Additionally, we will explore potential M&A opportunities that drive specialty growth. We remain committed to creating long-term shareholder value. For 2018, we anticipate adjusted EPS of $8.10 to $8.50," Zallie added.
Full release: http://hugin.info/147221/R/2165275/833100.pdf
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 www.ingredion.com to learn more.
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
Feb 1, 2018 19:50 HKT/SGT
Topic: Press release summary
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