INGREDION INCORPORATED Reports Fourth Quarter Financial Results for FY2022

Earnings Overview

For the fourth quarter of its FY2022, which concluded on December 31, 2022, INGREDION INCORPORATED ($NYSE:INGR) announced its financial results on February 8, 2023. Revenue saw an impressive 70.1% year-on-year boost to USD 114.0 million, while net income rose 13.2% to USD 1987.0 million.

Transcripts Simplified

Ingredion Incorporated reported fourth quarter net sales of approximately $2 billion, which was up 13% from the prior year. Gross profit dollars and margins were higher year-over-year up 120 basis points from Q4 last year. Reported and adjusted operating income were $157 million and $168 million, respectively. Reported earnings per share were $1.71, while adjusted earnings per share were $1.65 in the quarter, up significantly from prior year.

Full year net sales of almost $8 billion were up 15% compared to the prioryear. Gross profit margin was 18.8%, down 50 basis points.

About the Company

Income Snapshot

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Cash Flow Snapshot

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Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Ingredion Incorporated. More…

Key Ratios Snapshot

Some of the financial key ratios for Ingredion Incorporated are shown below. More…

Market Price

The stock opened at $100.2 and closed at $101.0, representing a slight increase of 0.3% from last closing price of 100.7. The report highlighted a strong performance in the fourth quarter that was primarily driven by improved sales and operating income. All four business segments reported higher revenues, with both North America and Latin America recording double-digit growth. INGREDION INCORPORATED is well positioned to continue to deliver strong results in the future, backed by its track record of robust cash flows and efficient cost control. Overall, the company’s fourth quarter performance demonstrates its continued focus on long-term growth and financial stability. Live Quote…

Analysis

GoodWhale has recently conducted an analysis of INGREDION INCORPORATED‘s wellbeing and the results are in. Overall, INGREDION INCORPORATED is considered a medium risk investment when it comes to financial and business aspects. The Risk Rating shows a slightly higher than medium risk, meaning that investors should exercise caution when considering investing in this company. GoodWhale has also detected 3 risk warnings in the company’s income sheet, balance sheet, and cashflow statement. To access these warnings, become a registered user and check out our detailed analysis. With this insight, investors can make more informed decisions when it comes to investing in INGREDION INCORPORATED. More…

Peers

The competition between Ingredion Inc and its competitors, Procter & Gamble Co, Nestle SA, and Edita Food Industries S.A.E., is fierce as each company strives to be the leader in the global food and beverage industry. From product innovation and marketing to pricing and distribution, each company is looking for the edge that will give them the upper hand in the competitive landscape.

– Procter & Gamble Co ($NYSE:PG)

Procter & Gamble Co is a multinational consumer goods giant, headquartered in Cincinnati, Ohio. The company manufactures a wide range of household products, from laundry detergents to toothpaste. As of 2022, the company has a market capitalization of 362.18B and a Return on Equity of 25.38%. The company’s size and profitability are demonstrative of its success in the consumer goods industry. With a large market cap and high return on equity, Procter & Gamble Co has established itself as an industry leader.

– Nestle SA ($LTS:0QR4)

Nestle SA is one of the world’s largest food and beverage companies, serving consumers in over 190 countries. Its market cap of 305.36B as of 2022 is a testament to its success and industry leadership. The company’s return on equity (ROE) of 14.82% is also impressive, indicating that the company is efficiently utilizing the capital it has available to generate profit and create value for its shareholders. This impressive market cap and ROE are indicative of the strength of Nestle SA’s business model and its ability to remain competitive in an ever-changing industry.

– Edita Food Industries S.A.E ($LSE:66XD)

Edita Food Industries S.A.E. is a leading food manufacturing and distribution company based in Egypt. The company has a market capitalization of 371.8 million as of 2022 and has achieved a return on equity of 33.89%. This indicates that the company is financially healthy and is able to generate returns on its investments. Edita produces and markets a wide range of baked goods, snacks and confectionery products, including cakes, pastries, rusks and biscuits, in addition to providing products for specialty markets. It also provides ready-made meals, frozen fruits and vegetables, and frozen ready-meals for catering services. The company is well-positioned to benefit from the growing demand for convenience food products in Egypt and across the region.

Summary

Ingredion Incorporated reported strong financial performance in the fourth quarter of FY2022, with total revenue of USD 114.0 million, representing a 70.1% year-on-year increase. Net income also grew 13.2% year-on-year to USD 1987.0 million. This result is a positive sign for investors, indicating that the company is enjoying sustained growth and financial stability going forward. Looking ahead, investors should keep an eye on the company’s guidance for future quarters to monitor any potential shifts in the financial outlook.