- Ingredion (INGR +8.0%) Q4 revenue of $1.59B, up 2.6% Y/Y, beats consensus by $20M, driven by strong price mix and higher volumes in South America, inclusion of PureCircle results, and specialty volume growth in all four regions.
- Non-GAAP EPS of $1.75 beats consensus by $0.29; GAAP EPS of $1.70 beats consensus by $0.23.
- Company anticipates FY 2021 net sales and operating income to be up modestly, driven by specialty ingredients growth, other volume recovery and Cost Smart savings.
- “We delivered outstanding performance in the fourth quarter, with year-over-year 3% net sales growth, with each region contributing to the net sales growth. Three of the four regions saw volume demand recover from COVID-19 impacts, a highly encouraging sign. In addition, we had exceptional performance in South America, led by strong pricing gains that enabled us to keep pace with inflation and changing market conditions.” said Jim Zallie, president and CEO.
- Perspective 2021:
