LONDON, UK / ACCESSWIRE / February 22, 2018 / Active-Investors.com has just released a free earnings report on Ingredion Inc. (NYSE: INGR). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=INGR. The Company posted its financial results on February 01, 2018, for the fourth quarter of the fiscal year 2017 (Q4 FY17) and for the full fiscal year 2017 (FY17). The Westchester, Illinois-based Company's quarterly net sales grew 3% y-o-y, beating market consensus estimates. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Ingredion most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
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Earnings Highlights and Summary
In Q4 FY17, Ingredion reported net sales of $1.44 billion compared to the $1.40 billion reported in Q4 FY16. The Company's total net sales numbers outperformed market expectations of $1.43 billion.
The food sweetener, starch, and nutritional ingredient Company reported a net income attributable to common shareholders of $99 million, or $1.35 per diluted share, in Q4 FY17 compared to $94 million, or $1.26 per diluted share, in Q4 FY16. The Company's non-GAAP adjusted net income stood at $127 million, or $1.73 per diluted share, for the reported quarter, rising from $124 million, or $1.67 per diluted share recorded in Q4 FY16. Meanwhile, Wall Street had expected the Company to report an adjusted diluted earnings per share (EPS) of $1.75.
For the full year FY17, Ingredion's net sales were $5.83 billion, which came in 2% above the $5.70 billion reported in FY16. The Company reported a net income attributable to common shareholders of $519 million, or $7.06 per diluted share, in FY17 compared to $485 million, or $6.55 per diluted share, in FY16. Additionally, the Company's adjusted net income stood at $566 million, or $7.70 per diluted share, for FY17 compared to $528 million, or $7.13 per diluted share, in FY16.
Operating Metrics
During Q4 FY17, Ingredion's cost of sales came in at $1.08 billion compared to $1.06 billion in the previous year's same period. The Company's gross profit stood at $360 million in Q4 FY17 versus $339 million in Q4 FY16. Furthermore, the Company's non-GAAP adjusted operating income was $210 million in Q4 FY17, up from $194 million in Q4 FY16.
Geographical Performance
Ingredion's North America region's revenues rose to $840 million during Q4 FY17 from $813 million in the prior year's comparable quarter. Furthermore, the region's operating income also increased to $141 million in Q4 FY17 from $137 million in Q4 FY16.
In the reported period, Ingredion's South America region's revenues fell to $267 million from $279 million in Q4 FY16. Meanwhile, the region reported an operating income of $36 million in Q4 FY17, up from the $29 million recorded in the year ago corresponding quarter.
During Q4 FY17, Ingredion's Asia/Pacific region's revenues increased to $185 million from $174 million in the last year's same quarter, while the region's operating income came in flat at $24 million.
Ingredion's Europe, Middle-East, and Africa (EMEA) region's revenues grew to $145 million in Q4 FY17 from $133 million in the prior year's comparable quarter. The region's operating income stood at $30 million for the reported quarter, which came in 15% above the $26 million recorded in Q4 FY16.
Cash Flow and Balance Sheet
During the year ended December 31, 2017, Ingredion generated $769 million in cash from operations compared to $771 million at the end of the year ago. The Company had a cash and cash equivalents balance of $595 million as on December 31, 2017, compared to $512 million at the close of books on December 31, 2016. Furthermore, the Company had a long-term debt amounting to $1.74 billion as on December 31, 2017, versus $1.85 billion as on December 31, 2016.
Outlook
In its guidance for the full year FY18, Ingredion's management expects adjusted EPS to be in the range of $8.10 to $8.50.
Stock Performance Snapshot
February 21, 2018 - At Wednesday's closing bell, Ingredion's stock fell 1.73%, ending the trading session at $127.02.
Volume traded for the day: 437.53 thousand shares, which was above the 3-month average volume of 429.16 thousand shares.
Stock performance in the previous six-month period – up 3.61%; and past twelve-month period – up 4.10%
After yesterday's close, Ingredion's market cap was at $9.09 billion.
Price to Earnings (P/E) ratio was at 17.21.
The stock has a dividend yield of 1.89%.
The stock is part of the Consumer Goods sector, categorized under the Processed & Packaged Goods industry.
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