Ingredion Reports 2Q Net Income of $95 Million, Down From $109 Million in 2Q 2013
Date Posted: August 1, 2013
Westchester, IL—Ingredion Incorporated (NYSE: INGR), a leading global provider of ingredient solutions to diversified industries, today reported results for the second quarter 2013.
“After delivering very strong results on a consistent basis over many years, our second quarter was disappointing as we saw EPS fall and, as we previously announced, we brought down the outlook for our full year,” said Ilene Gordon, chairman, president and chief executive officer.
“The shortfall and lowered outlook is the result of a challenging macro environment, particularly in South America where Argentina has seen a sharp acceleration of economic headwinds.”
"In spite of this situation, our business model continues to position us for near-in success in North America, Asia Pacific and EMEA while our South American team diligently works through the short-term issues.
"We believe our current annual EPS guidance for 2013 of $5.10 to $5.40 represents our best estimate on a variety of risk factors in our markets. Looking longer-term, our early outlook for 2014 is positive as we expect relief on raw material prices, improved volume performance, and sales and operating income from key capital investments,” Gordon added.
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