Stock Monitor: Campbell Soup Post Earnings Reporting
LONDON, UK / ACCESSWIRE / December 12, 2017 / Active-Investors free earnings report on Ingredion Inc. (NYSE: INGR) has freshly been issued to its members, and you can also sign up to view this report at www.active-investors.com/registration-sg/'symbol=INGR. Active Wall St. announces its post-earnings coverage on Ingredion. The Company posted its financial results on November 01, 2017, for the third quarter fiscal 2017. The ingredients solutions provider's adjusted EPS surpassed analysts' expectations. Register today and get free access to our complimentary member's area where many more reports are available:
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Active-Investors.com is currently working on the research report for Campbell Soup Company (NYSE: CPB), which also belongs to the Consumer Goods sector as the Company Ingredion. Do not miss out and become a member today for free to access this upcoming report at:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Ingredion most recent news is on our radar and we have decided to include it on our blog post. Today's free coverage is available at:
www.active-investors.com/registration-sg/'symbol=INGR
Earnings Highlights and Summary
For three months ended September 30, 2017, Ingredion's net revenue was $1.485 billion, marginally lower than revenue of $1.489 billion in Q3 FY16. The Company's net revenue was below analysts' expectations of $1.51 billion.
During Q3 FY17, Ingredion's gross profit increased 5% to $388 million from $369 million in the same period last year. The increase was due to margin expansion in North America, and the inclusion of the TIC Gums business and specialty ingredient volume growth. During Q3 FY17, the Company's gross margin increased 130 basis points to 26.1% of revenue from 24.8% of revenue in the same period last year.
During Q3 FY17, Ingredion's operating income increased 5% to $233 million from $221 million in the same period last year. For the reported quarter, the Company's operating margin increased 90 basis points to 15.7% of revenue from 14.8% of revenue in the third quarter of last year. During Q3 FY17, Ingredion's adjusted operating income increased 8% to $241 million from $223 million in the same period last year. For the reported quarter, the Company's adjusted operating margin increased 120 basis points to 16.2% of revenue from 15% of revenue in the third quarter of last year.
For Q3 FY17, Ingredion's earnings before tax (EBT) increased 5% to $217 million from $206 million in the same period last year. For the reported quarter, the Company's EBT margin increased 80 basis points to 14.6% of revenue from 13.8% of revenue in the third quarter of last year.
For the reported quarter, Ingredion's net income increased 16% to $166 million on a y-o-y basis from $143 million in Q3 FY16. During Q3 FY17, the Company's diluted EPS increased 17% to $2.26 on a y-o-y basis from $1.93 in the same period last year. For the reported quarter, Ingredion's adjusted net income increased 11.7% to $162 million on a y-o-y basis from $145 million in Q3 FY16. During Q3 FY17, the Company's adjusted diluted EPS increased 12.8% to $2.21 on a y-o-y basis from $1.96 in the same period last year. Adjusted diluted EPS surpassed analysts' expectations of $2.04.
Ingredion's Segment Details
North America - During Q3 FY17, the North America segment's net revenue increased 0.4% to $903 million from $899 million in the same period last year. For the reported quarter, the segment's operating income increased 9% to $179 million from $164 million in Q3 FY16.
South America - During Q3 FY17, the South America segment's net revenue decreased 7% to $257 million from $276 million in the same period last year. For the reported quarter, the segment's operating income decreased 4% to $26 million from $27 million in Q3 FY16.
Asia/Pacific - During Q3 FY17, the Asia/Pacific segment's net revenue grew 2% to $189 million from $185 million in the same period last year. For the reported quarter, the segment's operating income was $29 million on par with $29 million in Q3 FY16.
EMEA - During Q3 FY17, the EMEA segment's net revenue increased 5% to $136 million from $129 million in the same period last year. For the reported quarter, the segment's operating income increased 4% to $26 million from $25 million in Q3 FY16.
Balance Sheet
As on September 30, 2017, Ingredion's cash and cash equivalents decreased 4.1% to $491 million from $512 million on December 31, 2016. For the reported quarter, the Company's total long-term debt decreased 6.4% to $1.73 billion from $1.85 billion in Q4 FY16.
For the reported quarter, the Company's net accounts receivable decreased 2.4% to $901 million from $923 million in Q4 FY16. For the reported quarter, the Company's accounts payable and accrued liabilities decreased 9.7% to $787 million from $872 million in the fourth quarter of 2016.
In the first nine months of 2017, Ingredion's cash provided by operating activities decreased 3.3% to $524 million from $542 million in the same period last year.
Outlook
For FY17, the Company expects diluted EPS to be in the range of $7.36 to $7.50 and adjusted diluted EPS to be in the band of $7.65 to $7.80.
Stock Performance Snapshot
December 11, 2017 - At Monday's closing bell, Ingredion's stock slightly fell 0.15%, ending the trading session at $139.68.
Volume traded for the day: 327.82 thousand shares.
Stock performance in the last month - up 7.43%; previous three-month period - up 12.01%; past twelve-month period - up 12.26%; and year-to-date - up 11.78%
After yesterday's close, Ingredion's market cap was at $10.01 billion.
Price to Earnings (P/E) ratio was at 19.99.
The stock has a dividend yield of 1.72%.
The stock is part of the Consumer Goods sector, categorized under the Processed & Packaged Goods industry. This sector was up 0.3% at the end of the session.
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