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.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100