Food ingredient solutions provider Ingredion (NYSE: INGR) will be announcing earnings results this Tuesday before the bell. Here’s what you need to know.
Ingredion missed analysts’ revenue expectations last quarter, reporting revenues of $1.76 billion, down 2.4% year on year. It was a softer quarter for the company, with a significant miss of analysts’ EBITDA estimates and a miss of analysts’ adjusted operating income estimates.
Is Ingredion a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Ingredion’s revenue to decline 1.4% year on year, improving from the 3.7% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings.
Looking at Ingredion’s peers in the consumer staples segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Bunge Global delivered year-on-year revenue growth of 87.8%, missing analysts’ expectations by 3.1%, and Darling Ingredients reported revenues up 12.3%, in line with consensus estimates. Bunge Global’s stock price was unchanged after the resultswhile Darling Ingredients was up 1.5%.
Read our full analysis of Bunge Global’s results here and Darling Ingredients’s results here.
There has been positive sentiment among investors in the consumer staples segment, with share prices up 2.8% on average over the last month. Ingredion is down 3.4% during the same time and is heading into earnings with an average analyst price target of $126.57 (compared to the current share price of $110.39).
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