Ingredion Incorporated Q2 Profit Increases, Beats Estimates

(RTTNews) - Ingredion Incorporated (INGR) revealed a profit for its second quarter that Increased from last year and beat the Street estimates.

The company's earnings came in at $196 million, or $2.99 per share. This compares with $148 million, or $2.22 per share, last year.

Excluding items, Ingredion Incorporated reported adjusted earnings of $188 million or $2.87 per share for the period.

Analysts on average had expected the company to earn $2.79 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 2.1% to $1.83 billion from $1.87 billion last year.

Ingredion Incorporated earnings at a glance (GAAP) :

-Earnings: $196 Mln. vs. $148 Mln. last year. -EPS: $2.99 vs. $2.22 last year. -Revenue: $1.83 Bln vs. $1.87 Bln last year.

-Guidance: Full year EPS guidance: $11.10 - $11.60