Ingredion Incorporated Reports First Quarter 2018 Results

Written by ACN Newswire

WESTCHESTER, Ill., May 3, 2018 - (ACN Newswire) - Ingredion Incorporated (NYSE: INGR), a leading global provider of ingredient solutions to diversified industries, today reported results for the first quarter 2018. The results reported in accordance with U.S. generally accepted accounting principles ("GAAP") for 2018 and 2017 include items which are excluded from the non-GAAP financial measures which we present.

"While we're pleased with how we grew specialties and EPS, North America performance was negatively impacted by a sharp increase in freight costs and fell short of our expectations," said Ingredion's president and chief executive officer, Jim Zallie. "As expected, EMEA and South America posted strong operating income growth while Asia-Pacific operating income was lower year-over-year due to extraordinary tapioca cost increases. We have begun mitigating inflationary pressures through pricing actions, customer contract management and accelerating our network optimization and cost reduction initiatives."

"We expect continued growth in our specialty portfolio aligned with consumer trends and we are making capital investments to support margin expansion. Additionally, we continue to explore potential M&A opportunities to drive specialty growth. We remain committed to our long-term earnings growth algorithm to create additional shareholder value," added Zallie.

Full press release can be viewed at www.ingredionincorporated.com/investors/investornews/financialreleases.html ^[1]

Conference Call and Webcast

Ingredion will conduct a conference call today at 9:00 a.m. Eastern Time (8:00 a.m. Central Time) to be hosted by Jim Zallie, president and chief executive officer, and James Gray, executive vice president and chief financial officer. The call will be webcast in real time, and will include a visual presentation accessible through the Ingredion website at www.ingredion.com ^[2]. The presentation will be available to download a few hours prior to the start of the call. A replay of the webcast will be available for a limited time thereafter at www.ingredion.com ^[3].

ABOUT THE COMPANY

Ingredion Incorporated (NYSE: INGR), headquartered in the suburbs of Chicago, is a leading global ingredient solutions provider serving customers in more than 120 countries. With annual net sales of nearly $6 billion, the company turns grains, fruits, vegetables and other plant materials into value-added ingredients and biomaterial solutions for the food, beverage, paper and corrugating, brewing and other industries. With 27 Ingredion Idea Labs(R) innovation centers around the world and more than 11,000 employees, the Company develops ingredient solutions to meet consumers' evolving needs by making crackers crunchy, yogurt creamy, candy sweet, paper stronger, and adding fiber to nutrition bars. For more information, visit ingredion.com.

CONTACT:Investors: Heather Kos, 708-551-2592Media: Becca Hary, 708-551-2602

1Q18 PR Tables: http://hugin.info/147221/R/2189902/847374.pdf ^[4]

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This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.Source: Ingredion Incorporated via Globenewswire

Topic: Press release summary http://www.acnnewswire.com From the Asia Corporate News Network