Ingredion Incorporated Q1 Profit Decreases, But Beats Estimates

(RTTNews) - Ingredion Incorporated (INGR) revealed a profit for first quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line totaled $197 million, or $3.00 per share. This compares with $216 million, or $3.23 per share, last year.

Excluding items, Ingredion Incorporated reported adjusted earnings of $195 million or $2.97 per share for the period.

Analysts on average had expected the company to earn $2.41 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 3.7% to $1.813 billion from $1.882 billion last year.

Ingredion Incorporated earnings at a glance (GAAP) :

-Earnings: $197 Mln. vs. $216 Mln. last year. -EPS: $3.00 vs. $3.23 last year. -Revenue: $1.813 Bln vs. $1.882 Bln last year.

-Guidance: Full year EPS guidance: $10.90 to $11.60