Ingredion Incorporated (INGR) announced a decline in its fourth-quarter profit compared to the previous year, although the results surpassed analysts' expectations. The company posted a net income of $95 million, equating to $1.43 per share, down from $131 million or $1.97 per share in the same period last year.
On an adjusted basis, which excludes certain items, Ingredion achieved earnings of $176 million, or $2.63 per share. This exceeded the consensus forecast by analysts, who had predicted earnings of $2.56 per share, typically excluding extraordinary items.
Revenue for the quarter experienced a 6.3% drop, shrinking to $1.800 billion from last year's $1.921 billion.
For a quick overview of Ingredion Incorporated's financial performance based on Generally Accepted Accounting Principles (GAAP):
- Earnings: $95 million compared to $131 million last year.
- Earnings Per Share (EPS): $1.43 versus $1.97 the previous year.
- Revenue: $1.800 billion in comparison to $1.921 billion last year.
