Ingredion Incorporated Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 06, 2024 at 06:13 am
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Ingredion Incorporated reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 1,921 million compared to USD 1,987 million a year ago. Net income was USD 131 million compared to USD 114 million a year ago. Basic earnings per share from continuing operations was USD 2 compared to USD 1.73 a year ago. Diluted earnings per share from continuing operations was USD 1.97 compared to USD 1.71 a year ago.
For the full year, the company reported sales was USD 8,160 million compared to USD 7,946 million a year ago. Net income was USD 643 million compared to USD 492 million a year ago. Basic earnings per share from continuing operations was USD 9.74 compared to USD 7.43 a year ago. Diluted earnings per share from continuing operations was USD 9.6 compared to USD 7.34 a year ago.
Ingredion Incorporated is a global ingredients solutions provider that transforms grains, fruits, vegetables, and other plant-based materials into value-added ingredient solutions for the food, beverage, animal nutrition, brewing and industrial markets. It develops, produces, and sells a variety of food and beverage ingredients, primarily starches and sweeteners, for various industries. It operates through four segments: North America, South America, Asia-Pacific, and Europe, Middle East and Africa (EMEA). Its products are derived primarily from the processing of corn and other starch-based materials, such as tapioca, potato, and rice. Its product lines include starches and sweeteners, animal feed products and edible corn oil. The starch-based products include both food-grade and industrial starches, as well as biomaterials. The sweetener products include glucose syrups, high maltose syrups, high fructose corn syrup, caramel color, dextrose, maltodextrins, and glucose and syrup solids.
INGREDION INCORPORATED 
