Ingredion Incorporated Q2 Profit Decreases, But Beats Estimates

(RTTNews) - Ingredion Incorporated (INGR) reported a profit for second quarter that decreased from last year but beat the Street estimates.

The company's bottom line totaled $148 million, or $2.22 per share. This compares with $163 million, or $2.42 per share, in last year's second quarter.

Excluding items, Ingredion Incorporated reported adjusted earnings of $192 million or $2.87 per share for the period.

Analysts on average had expected the company to earn $2.49 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 9.2% to $1.878 billion from $2.069 billion last year.

Ingredion Incorporated earnings at a glance (GAAP) :

-Earnings (Q2): $148 Mln. vs. $163 Mln. last year. -EPS (Q2): $2.22 vs. $2.42 last year. -Revenue (Q2): $1.878 Bln vs. $2.069 Bln last year.