1. Home
  2. Press release
Aug 02, 2018 19:30 JST

Source: Ingredion Incorporated

Ingredion Incorporated Reports Second Quarter 2018 Results
- Second quarter 2018 reported and adjusted EPS* were $1.57 and $1.66, down from second quarter 2017 reported and adjusted EPS of $1.78 and $1.89, respectively
- Year-to-date 2018 reported and adjusted EPS were $3.47 and $3.60, respectively, up from $3.46 of reported EPS and down from $3.77 of adjusted EPS in the year-ago period
- 2018 adjusted EPS expected to be in the range of $7.50-$7.80
- During the second quarter, the Company repurchased 1.25 million shares

WESTCHESTER, Ill., Aug 02, 2018 - (ACN Newswire) - Ingredion Incorporated (NYSE: INGR), a leading global provider of ingredient solutions to diversified industries, today reported results for the second quarter 2018. The results, reported in accordance with U.S. generally accepted accounting principles ("GAAP") for 2018 and 2017, include items that are excluded from the non-GAAP financial measures that the Company presents.

"We continue to position Ingredion for long-term growth as a more agile company and are taking swift actions across our business in response to increasing inflationary pressures and current production imbalances in North America. We are moving aggressively to improve our cost structure, optimize our network capacity and drive operational execution," said Jim Zallie, Ingredion's president and chief executive officer. "Among these actions is the establishment of our $125 million Cost Smart program to deliver savings through cost of sales, including freight, and SG&A reductions, starting in the second half of 2018. This includes the cessation of wet-milling and production of high fructose corn syrup and industrial starches at our Stockton, CA facility by the end of 2018. In addition to our cost savings measures, we will be pursuing necessary pricing actions. We remain focused on delivering our long-term earnings algorithm by growing our Specialties portfolio to $2 billion in sales by 2022, and strengthening our business model built on global reach, local touch, innovation and differentiated value propositions aligned with market trends."

Zallie concluded, "In addition to these actions, we remain committed to strategically deploying cash to increase shareholder value. During the second quarter, we returned capital to shareholders through the repurchase of 1.25 million shares."

INGR 2Q 2018 earnings release FINAL COPY
http://hugin.info/147221/R/2208816/859329.pdf

###

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

Source: Ingredion Incorporated


Copyright ©2025 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.

Related Press Release

Ingredion Leads Series B Funding for Clara Foods and Continues Expanding Its Protein Portfolio
April 25 2019 23:00 JST
 
Janet Bawcom Joins Ingredion as General Counsel and Corporate Secretary
April 15 2019 23:00 JST
 
Ingredion Incorporated Declares Quarterly Dividend of $0.625 Per Share
March 21 2019 08:00 JST
 
Ingredion Incorporated Reports Fourth Quarter and Full-Year 2018 Results
February 05 2019 19:00 JST
 
Ingredion to Present at the Consumer Analyst Group of New York (CAGNY) Conference on Tuesday, February 19, 2019
February 05 2019 09:00 JST
 
Ingredion to Release 2018 Fourth-Quarter and Year-End Financial Results and Hold Conference Call and Webcast On Tuesday, February 5, 2019
January 15 2019 09:00 JST
 
Ingredion Incorporated Declares Quarterly Dividend of $0.625 Per Share
December 15 2018 00:00 JST
 
Ingredion Invests $140 Million to Accelerate Growth in Plant-Based Proteins
December 13 2018 23:00 JST
 
Ingredion Introduces Astraea Allulose; New Rare Sugar Provides Great Taste with Fewer Calories
December 05 2018 22:00 JST
 
Ingredion Announces Preliminary Third Quarter 2018 EPS and Adjusted EPS, Revises Adjusted EPS Guidance; Board Authorizes Repurchase of up to an Additional 8 Million Shares
October 24 2018 09:00 JST
 
More Press release >>

Latest Press Release


ABVC BioPharma Receives $450,000 in Licensing Payments from OncoX BioPharma in Q3 2025
Sep 01, 2025 22:28 JST

DENSO Signs Agreement to Transfer Part of Its Ceramic Product Business
Sep 01, 2025 20:52 JST

Honda to Provide Official Vehicles for World Athletics Championships Tokyo 25 as Official Global Partner
Sep 01, 2025 13:50 JST

FDA Approves LEQEMBI(R) IQLIK(TM) (lecanemab-irmb) Subcutaneous Injection for Maintenance Dosing for the Treatment of Early Alzheimer's Disease
Sep 01, 2025 13:44 JST

TANAKA Memorial Foundation to Offer Precious Metals Research Grants of Up to 10 Million Yen (from a Grant Pool of 20 Million Yen) - Applications for Research Projects Open on September 1
Sep 01, 2025 11:00 JST

ABVC BioPharma Receives $450,000 in Licensing Payments from OncoX BioPharma in Q3 2025
Aug 29, 2025 20:39 JST

Honda Announces New Plan for Relocation of Global Head Office to Yaesu Area in Tokyo and Reconstruction of Honda Aoyama Building
Aug 29, 2025 18:54 JST

Ministry Of Health, Labour and Welfare Grants Orphan Drug Designation in Japan to Anticancer Agent Tazemetostat for Unresectable INI1-Negative Epithelioid Sarcoma
Aug 29, 2025 18:17 JST

Hitachi Energy acquires remaining stake of eks Energy, reinforcing leadership in power conversion systems for energy storage
Aug 29, 2025 15:17 JST

Hong Kong Watch & Clock Fair, Salon de TIME return in September
Aug 28, 2025 21:27 JST

SenseTime Announces 2025 Interim Results
Aug 28, 2025 21:20 JST

Ausnutria 2025 Interim Results Announcement: Revenue and Profit Maintain Resilient Dual Growth
Aug 28, 2025 19:09 JST

Baguio Green Group (1397.HK) Announces 2025 Interim Results
Aug 28, 2025 19:03 JST

Production, Sales and Export Results for July, 2025
Aug 28, 2025 17:36 JST

Sales, Production, and Export Results for July 2025
Aug 28, 2025 17:25 JST

The University of Tokyo and DENSO Jointly Establish a Social Cooperation Program: "Building Sustainable Production System Infrastructure with Advanced AI Technology"
Aug 28, 2025 16:33 JST

Overview of Honda Exhibits at the Japan Mobility Show 2025
Aug 28, 2025 15:49 JST

NEC develops AI technology for digitalizing work tasks without the need for pre-training and utilizing video from multiple cameras covering wide area worksites
Aug 27, 2025 22:57 JST

Result of the Business Plan Review for the Offshore Wind Power Generation Projects in Japan
Aug 27, 2025 22:27 JST

Fujitsu develops AI agent platform for the healthcare sector to enhance operational efficiency and ensure stable medical service provision
Aug 27, 2025 21:50 JST
 More Latest Release >>