Ingredion Lifts Annual Earnings Outlook Above View, But Cuts Sales Guidance

(RTTNews) - Ingredion Inc. (INGR) has revised up its annual earnings guidance above analysts' estimates, while revising down its sales outlook.

For the full year, the company now expects net income per share of $10.60 to $10.90, compared with prior outlook of $10.20 to $10.70 per share.

Excluding items, earnings per share is now anticipated to be in the range of $10.35 to $10.65, higher than previous guidance of $9.70 to $10.20 per share.

On average, five-analysts, polled by Thomson Reuters project the firm to earn $9.97 per share, for the year. Analysts' estimates typically exclude special items.

Excluding the effects of the sale of its South Korean business, Ingredion now projects annual sales to be down mid-single-digits. Earlier, the company was expecting its full-year sales to be down low single-digits.