Ingredion’s Texture and Healthful Solutions Segment Powers 29% Operating Income Growth
Ingredion Inc. (NYSE: INGR) has reported stronger-than-expected earnings in the third quarter of 2024, with adjusted earnings per share (EPS) reaching $3.05, exceeding analyst estimates by $0.45. However, revenue came in at $1.87 billion, slightly below the $1.94 billion consensus estimate, which is a 3.8% miss. Despite the revenue shortfall, the quarter saw a 29% increase in operating income, marking the highest Q3 operating income in the company’s history. Growth attributed to volume gains and cost controls In the earnings call, CEO and president James (Jim) Zallie attributed the earnings boost to various factors, including robust volume growth across all segments, effective cost control, and renewed customer contracts, which helped offset inflationary impacts. “All three of our segments delivered double-digit operating income growth in the …