Ingredion Incorporated (INGR) revealed a profit for first quarter that decreased from the same period last year but beat the Street estimates.
The company's bottom line totaled $197 million, or $3.00 per share. This compares with $216 million, or $3.23 per share, last year.
Excluding items, Ingredion Incorporated reported adjusted earnings of $195 million or $2.97 per share for the period.
Analysts on average had expected the company to earn $2.41 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period fell 3.7% to $1.813 billion from $1.882 billion last year.
Ingredion Incorporated earnings at a glance (GAAP) :
-Earnings: $197 Mln. vs. $216 Mln. last year.-EPS: $3.00 vs. $3.23 last year.-Revenue: $1.813 Bln vs. $1.882 Bln last year.
-Guidance:Full year EPS guidance: $10.90 to $11.60
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