Ingredion Incorporated Q3 Profit Increases, Beats Estimates

(RTTNews) - Ingredion Incorporated (INGR) announced a profit for its third quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line came in at $188 million, or $2.83 per share. This compares with $158 million, or $2.36 per share, in last year's third quarter.

Excluding items, Ingredion Incorporated reported adjusted earnings of $203 million or $3.05 per share for the period.

Analysts on average had expected the company to earn $2.58 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 8.0% to $1.870 billion from $2.033 billion last year.

Ingredion Incorporated earnings at a glance (GAAP) :

-Earnings (Q3): $188 Mln. vs. $158 Mln. last year. -EPS (Q3): $2.83 vs. $2.36 last year. -Revenue (Q3): $1.870 Bln vs. $2.033 Bln last year.