Ingredion Q3 Adj EPS $2.33 Beats $1.95 Estimate, Sales $2.03B Miss $2.114B Estimate
Portfolio Pulse from Benzinga Newsdesk
Ingredion (NYSE:INGR) reported Q3 adjusted earnings of $2.33 per share, beating the analyst consensus estimate of $1.95, a 34.68% increase from the same period last year. However, the company's quarterly sales of $2.03 billion missed the analyst consensus estimate of $2.114 billion, a slight increase of 0.49% from last year.
November 07, 2023 | 11:08 am
News sentiment analysis
Sort by:
Descending
NEUTRAL IMPACT
Ingredion's Q3 earnings beat estimates but sales missed expectations. Earnings were up 34.68% YoY while sales increased by only 0.49%.
While Ingredion's earnings beat estimates, which is positive for the stock, the miss on sales could offset this positive impact. The slight increase in sales YoY indicates slow growth, which may concern investors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100