Ingredion Q1 2024 GAAP EPS $3.23 Beats $2.63 Estimate, Sales $1.882B Miss $2.011B Estimate
Portfolio Pulse from Benzinga Newsdesk
Ingredion reported Q1 2024 earnings with a GAAP EPS of $3.23, surpassing the $2.63 estimate, but sales of $1.882B fell short of the $2.011B estimate, marking an 11.93% decrease from the previous year.
May 08, 2024 | 10:04 am
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Ingredion's Q1 2024 earnings exceeded expectations with a GAAP EPS of $3.23 against estimates of $2.63, but sales missed estimates, coming in at $1.882B versus the expected $2.011B.
While Ingredion's earnings per share significantly exceeded analyst expectations, the miss on sales forecasts and the year-over-year sales decrease could temper investor enthusiasm, leading to a neutral short-term impact on the stock price. The EPS beat suggests operational efficiency or cost management success, but the sales miss indicates potential challenges in revenue growth or market demand.
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RELEVANCE 100