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Last $82.29 USD
Change Today +0.19 / 0.23%
Volume 333.0K
INGR On Other Exchanges
Symbol
Exchange
New York
Stuttgart
As of 8:04 PM 05/22/15 All times are local (Market data is delayed by at least 15 minutes).

ingredion inc (INGR) Key Developments

Ingredion Incorporated, Board Meeting, May 20, 2015

Ingredion Incorporated, Board Meeting, May 20, 2015. Agenda: To consider retirement of John F. Saucier, Senior Vice President, Corporate Strategy and Global Business Development.

John F. Saucier Retires as Senior Vice President, Corporate Strategy and Global Business Development at Board of Directors of Ingredion Incorporated

John F. Saucier will retire from Ingredion Incorporated, effective June 30, 2015. He was not elected to continue to serve as Senior Vice President, Corporate Strategy and Global Business Development at the company's board of directors' meeting on May 20, 2015 and therefore was terminated from that position on that date.

Ingredion Incorporated Declares Quarterly Dividend, Payable on July 27, 2015

The Board of Directors of Ingredion Incorporated declared a quarterly dividend of $0.42 per share on the company's common stock. The dividend is payable on July 27, 2015, to stockholders of record at the close of business on June 30, 2015.

Ingredion Incorporated Declares Dividend for the First Quarter Ended March 31, 2015

Ingredion Incorporated declared dividend for the first quarter ended March 31, 2015 of $0.42 per share.

Ingredion Incorporated Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for the Fiscal Year 2015

Ingredion Incorporated announced unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported net sales before shipping and handling costs of $1,410.0 million against $1,435.0 million a year ago. Net sales were $1,330.1 million against $1,357.2 million a year ago. Operating income was $139.5 million against $122.3 million a year ago. Income before income taxes was $125.5 million against $105.7 million a year ago. Net income attributable to the company was $83.7 million or $1.15 per diluted share against $72.6 million or $0.96 per diluted share a year ago. Cash provided by operating activities was $69 million against $121 million a year ago. Capital expenditures, net of proceeds on disposals were $58 million against $59 million a year ago. Non-GAAP adjusted net income was $94.8 million or $1.30 per share against $72.6 million or $0.96 per share a year ago. Non-GAAP adjusted operating income $156.6 million against $122.3 million a year ago. The 14% and 28% increase in operating income and adjusted operating income, respectively, compared to the first quarter of 2014. The increase in adjusted operating income was primarily due to stronger volumes and margins in North America. This was slightly offset by global foreign exchange headwinds and stagnant economies in South America, primarily Brazil. Adjusted non-GAAP was $142.6 million. For the fiscal year 2015, the company’s 2015 adjusted EPS, including the expected $0.08-$0.12 per share accretion resulting from the Penford acquisition but excluding integration and acquisition costs, is expected to be in the range of $5.50 to $6.00 compared to adjusted EPS of $5.20 in 2014. The guidance assumes: overall improvement in North America, modest improvement in Asia Pacific, EMEA in line with last year, and South America in line to slightly up versus last year; an effective tax rate of 29% - 31%; and earnings per share accretion attributable to the 2014 accelerated share repurchase program. Sales of specialty ingredients are expected to continue to grow faster than its core portfolio of products. In 2015, cash generated by operations and capital expenditures are expected to be approximately $650 million - $700 million and $300 million, respectively.

 

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INGR

Industry Average

Valuation INGR Industry Range
Price/Earnings 16.6x
Price/Sales 1.0x
Price/Book 2.8x
Price/Cash Flow 16.0x
TEV/Sales 0.5x
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