- Ingredion press release ( NYSE: INGR ): Q2 Non-GAAP EPS of $2.12 beats by $0.18 .
- Revenue of $2.04B (+15.9% Y/Y) beats by $120M .
- For the third quarter 2022, the company expects net sales growth to be in the high teens and operating income growth to be in the high single-digits, when both are compared to third quarter 2021.
- The company expects full-year 2022 reported EPS to be in the range of $6.95 to $7.35, and adjusted EPS to be in the range of $6.90 to $7.45, compared to adjusted EPS of $6.67 in 2021 vs, consensus of $7.14.
- The company expects full-year 2022 adjusted operating income to be up low-double digits.
- For full-year 2022, the company expects a reported effective tax rate of 27.0 percent to 29.5 percent and an adjusted effective tax rate of 28.0 percent to 29.0 percent.
- Cash from operations for full-year 2022 is now expected to be in the range of $300 million to $360 million which reflects an anticipated increase in our working capital balances due to higher corn costs.
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Capital expenditures for the full year are expected to be between $290 million and $320 million.
For further details see:
Ingredion reports Q2 earnings beat; raises FY22 EPS guidance