Press release

Ingredion Q3 Topline Misses Hit By Lower Corn Costs; Hints On Softer Volume Demand

Ingredion Inc (NYSE: INGR) reported third-quarter FY23 sales growth of 1% year-on-year to $2.03 billion, missing the analyst consensus estimate of $2.114 billion.

The revenue increase was driven by both price mix and foreign exchange impacts, partially offset by volume declines.

Sales in North America increased 3% Y/Y to $1.3 billion, South America decreased 8% to $269 million, Asia-Pacific fell 2% to $272 million, and EMEA climbed 1% to $192 million.

Gross profit increased 13% Y/Y to $421 ...

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