Analyst Coverage

Firm Analyst
Barclays Capital Inc.
Benjamin Theurer
BMO Capital Markets
Ken Zaslow
Credit Suisse
Robert Moskow
Goldman Sachs
Adam Samuelson
Morningstar
Seth Goldstein
Stephens Inc.
Ben Bienvenu
UBS
Cody Ross

Ingredion Incorporated is followed by the analysts listed above. Please note that any opinions, estimates or forecasts regarding Ingredion Incorporated's performance made by these analysts are theirs alone and do not represent opinions, forecasts or predictions of Ingredion Incorporated or its management. Ingredion Incorporated does not by its reference above or distribution imply its endorsement of or concurrence with such information, conclusions or recommendations.

First Call Estimates

Information on this page has been provided by First Call for information purposes only and has not been verified by Ingredion Incorporated or its management.

Mean Recommendation:

2.57

Sell

Strong Buy

Reference Information - Earnings Per Share

Analyst Forecasts - Earnings Per Share

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual Dec 24 8.79 9.14 8.42 8.80 5 3 1 4.36
Annual Dec 23 7.94 8.33 7.77 7.88 7 5 1 1.17
Annual Dec 22 7.20 7.30 7.06 7.21 7 6 -- 1.02
Quarterly Mar 23 2.02 2.16 1.93 2.00 5 2 2 2.66
Quarterly Jun 23 2.10 2.17 2.06 2.07 5 2 3 -0.62
Quarterly Sep 23 2.01 2.11 1.93 2.00 5 4 -- 6.21
Quarterly Dec 22 1.39 1.50 1.26 1.39 6 3 3 -2.25
Long Term Growth 9.91 10.10 9.71 9.91 2 -- -- 0.00

Actuals - Earnings Per Share

Reported Mean Estimate Surprise % Change
Annual Dec 21 6.67 6.85 -2.67
Annual Dec 20 6.23 5.95 4.68
Annual Dec 19 6.65 6.52 2.00
Quarterly Sep 22 1.73 1.62 7.01
Quarterly Jun 22 2.12 1.94 9.04
Quarterly Mar 22 1.95 1.81 7.89
Quarterly Dec 21 1.09 1.29 -15.48

Reference Information - Book Value Per Share

Analyst Forecasts - Book Value Per Share

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual Dec 24 56.05 56.35 55.74 56.05 2 -- 2 -1.13
Annual Dec 23 50.64 51.42 49.17 51.33 3 1 2 -0.88
Annual Dec 22 47.47 48.34 46.74 47.34 3 1 2 -1.43
Quarterly Mar 23 48.45 48.45 48.45 48.45 1 -- 1 -3.24
Quarterly Jun 23 49.62 49.62 49.62 49.62 1 -- 1 -3.20
Quarterly Sep 23 50.75 50.75 50.75 50.75 1 -- 1 -2.93
Quarterly Dec 22 47.79 47.79 47.79 47.79 1 -- 1 -3.06

Actuals - Book Value Per Share

Reported Mean Estimate Surprise % Change
Annual Dec 21 46.51 43.92 5.89
Annual Dec 20 44.03 41.21 6.86
Annual Dec 19 40.71 42.68 -4.63
Quarterly Sep 22 46.77 48.79 -4.14
Quarterly Jun 22 47.78 -- --
Quarterly Mar 22 49.63 -- --
Quarterly Dec 21 46.51 -- --

Reference Information - Cash Flow Per Share

Analyst Forecasts - Cash Flow Per Share

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual Dec 24 13.38 14.74 12.03 13.38 2 1 1 -11.51
Annual Dec 23 7.67 11.35 3.72 7.94 3 2 1 -10.69
Annual Dec 22 7.58 10.55 2.15 10.05 3 3 -- 13.59
Quarterly Mar 23 2.48 2.83 2.12 2.48 2 1 1 -14.16
Quarterly Jun 23 2.53 2.93 2.13 2.53 2 1 1 -16.17
Quarterly Sep 23 2.45 2.88 2.02 2.45 2 1 1 -7.00
Quarterly Dec 22 5.50 8.73 2.27 5.50 2 2 -- 204.26

Actuals - Cash Flow Per Share

Reported Mean Estimate Surprise % Change
Annual Dec 21 5.78 3.62 59.56
Annual Dec 20 12.33 7.57 62.94
Annual Dec 19 10.09 9.41 7.28
Quarterly Sep 22 1.26 4.31 -70.77
Quarterly Jun 22 0.71 6.95 -89.79
Quarterly Mar 22 -0.76 3.12 -124.38
Quarterly Dec 21 1.97 2.87 -31.45

Reference Information - Dividend Per Share

Analyst Forecasts - Dividend Per Share

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual Dec 24 2.50 3.06 0.71 2.96 5 2 -- 7.74
Annual Dec 23 2.79 2.91 2.56 2.88 5 1 -- 0.36
Annual Dec 22 3.02 4.68 2.56 2.71 6 2 1 12.69
Quarterly Mar 23 0.70 0.70 0.70 0.70 1 -- -- --
Quarterly Jun 23 0.70 0.70 0.70 0.70 1 -- -- --
Quarterly Sep 23 0.70 0.70 0.70 0.70 1 -- -- --
Quarterly Dec 22 0.75 0.75 0.75 0.75 1 -- -- --

Actuals - Dividend Per Share

Reported Mean Estimate Surprise % Change
Annual Dec 21 2.58 2.90 -11.10
Annual Dec 20 2.54 2.59 -2.08
Annual Dec 19 2.58 2.37 8.86
Quarterly Sep 22 0.65 0.65 --

Reference Information - EBIT

Analyst Forecasts - EBIT

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual Dec 24 911.06 959.00 872.53 918.39 5 4 -- 5.71
Annual Dec 23 842.78 882.00 821.59 840.98 7 6 1 1.93
Annual Dec 22 773.37 779.59 762.70 775.00 7 5 -- 1.22
Quarterly Mar 23 213.13 215.51 211.20 212.69 3 2 1 5.42
Quarterly Jun 23 220.08 223.45 218.10 218.70 3 3 -- 2.18
Quarterly Sep 23 206.50 208.35 205.00 206.15 3 2 -- 5.11
Quarterly Dec 22 153.64 160.59 143.70 155.14 4 3 1 0.96

Actuals - EBIT

Reported Mean Estimate Surprise % Change
Annual Dec 21 685.00 653.58 4.81
Annual Dec 20 659.00 632.05 4.26
Annual Dec 19 705.00 706.84 -0.26
Quarterly Sep 22 191.00 176.08 8.48
Quarterly Jun 22 215.00 206.86 3.94
Quarterly Mar 22 213.00 186.39 14.28
Quarterly Dec 21 113.00 146.99 -23.12

Reference Information - EBITDA

Analyst Forecasts - EBITDA

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual Dec 24 1,153.69 1,244.00 1,096.30 1,141.39 5 4 -- 4.58
Annual Dec 23 1,077.40 1,157.00 1,036.25 1,063.98 7 6 1 1.32
Annual Dec 22 1,003.18 1,041.00 973.00 1,001.00 7 5 1 0.63
Quarterly Mar 23 270.03 279.39 263.40 267.29 3 2 1 2.40
Quarterly Jun 23 274.88 280.07 268.70 275.86 3 2 1 -1.07
Quarterly Sep 23 266.20 269.72 263.00 265.87 3 3 -- 7.33
Quarterly Dec 22 149.42 222.00 -32.00 203.85 4 1 2 -30.12

Actuals - EBITDA

Reported Mean Estimate Surprise % Change
Annual Dec 21 905.00 940.47 -3.77
Annual Dec 20 872.00 849.92 2.60
Annual Dec 19 925.00 930.60 -0.60
Quarterly Sep 22 244.00 234.01 4.27
Quarterly Jun 22 269.00 263.10 2.24
Quarterly Mar 22 266.00 247.73 7.37
Quarterly Dec 21 178.00 198.50 -10.33

Reference Information - GAAP Earnings Per Share

Analyst Forecasts - GAAP Earnings Per Share

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual Dec 24 8.50 9.14 8.14 8.21 3 -- -- 3.94
Annual Dec 23 7.81 7.90 7.68 7.81 6 1 1 0.49
Annual Dec 22 7.07 7.27 6.89 7.06 4 -- 1 0.31
Quarterly Mar 23 2.00 2.00 1.99 2.00 2 1 -- 4.45
Quarterly Jun 23 2.07 2.07 2.07 2.07 2 1 -- 0.98
Quarterly Sep 23 1.91 1.93 1.89 1.91 2 1 -- 1.06
Quarterly Dec 22 1.34 1.41 1.26 1.36 3 1 1 -1.23

Actuals - GAAP Earnings Per Share

Reported Mean Estimate Surprise % Change
Annual Dec 21 1.73 2.07 -16.22
Annual Dec 20 5.15 4.95 4.04
Annual Dec 19 6.13 6.00 2.20
Quarterly Sep 22 1.59 1.62 -1.55
Quarterly Jun 22 2.12 1.95 8.90
Quarterly Mar 22 1.92 1.76 9.09
Quarterly Dec 21 0.99 1.26 -21.64

Reference Information - Net Asset Value

Analyst Forecasts - Net Asset Value

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual Dec 24 4,149.00 4,149.00 4,149.00 4,149.00 1 -- -- --
Annual Dec 23 3,509.00 3,731.00 3,287.00 3,509.00 2 1 1 0.36
Annual Dec 22 3,315.00 3,398.00 3,232.00 3,315.00 2 1 1 0.36

Actuals - Net Asset Value

Reported Mean Estimate Surprise % Change
Annual Dec 21 3,118.00 2,877.00 8.38
Annual Dec 20 2,972.00 2,916.00 1.92
Annual Dec 19 2,741.00 2,816.00 -2.66

Reference Information - Net Debt

Analyst Forecasts - Net Debt

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual Dec 24 1,866.72 2,363.12 1,465.58 1,819.08 4 4 -- 18.08
Annual Dec 23 2,065.84 2,411.81 1,823.49 2,014.03 4 4 -- 16.51
Annual Dec 22 2,073.40 2,316.51 1,740.56 2,118.26 4 3 1 9.03
Quarterly Mar 23 2,055.51 2,055.51 2,055.51 2,055.51 1 1 -- 2.78
Quarterly Jun 23 1,384.39 1,384.39 1,384.39 1,384.39 1 1 -- 4.32
Quarterly Sep 23 2,041.63 2,041.63 2,041.63 2,041.63 1 1 -- 22.12
Quarterly Dec 22 2,141.52 2,141.52 2,141.52 2,141.52 1 1 -- 32.51

Actuals - Net Debt

Reported Mean Estimate Surprise % Change
Annual Dec 21 1,714.00 1,813.23 -5.47
Annual Dec 20 1,521.00 1,735.03 -12.34
Annual Dec 19 1,580.00 1,712.14 -7.72
Quarterly Sep 22 2,150.00 1,682.71 27.77
Quarterly Jun 22 2,069.00 -- --
Quarterly Mar 22 1,924.00 -- --
Quarterly Dec 21 1,714.00 -- --

Reference Information - Net Income

Analyst Forecasts - Net Income

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual Dec 24 590.87 658.00 546.65 581.42 5 3 -- 8.69
Annual Dec 23 527.65 563.00 510.82 521.00 7 4 3 0.09
Annual Dec 22 481.76 487.00 473.00 482.85 7 4 2 0.34
Quarterly Mar 23 132.33 133.10 131.55 132.33 2 2 -- 4.16
Quarterly Jun 23 136.52 137.90 135.13 136.52 2 1 1 0.29
Quarterly Sep 23 129.51 130.61 128.40 129.51 2 2 -- 3.42
Quarterly Dec 22 89.56 94.97 83.70 90.00 3 1 2 -1.80

Actuals - Net Income

Reported Mean Estimate Surprise % Change
Annual Dec 21 452.00 464.75 -2.74
Annual Dec 20 422.00 402.69 4.79
Annual Dec 19 448.00 440.17 1.78
Quarterly Sep 22 115.00 108.17 6.31
Quarterly Jun 22 142.00 131.80 7.74
Quarterly Mar 22 132.00 118.25 11.63
Quarterly Dec 21 74.00 89.10 -16.95

Reference Information - Operating Profit

Analyst Forecasts - Operating Profit

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual Dec 24 -- -- -- -- -- -- -- --
Annual Dec 23 -- -- -- -- -- -- -- --
Annual Dec 22 -- -- -- -- -- -- -- --
Quarterly Sep 23 -- -- -- -- -- -- -- --
Quarterly Jun 23 -- -- -- -- -- -- -- --
Quarterly Mar 23 -- -- -- -- -- -- -- --
Quarterly Dec 22 -- -- -- -- -- -- -- --

Actuals - Operating Profit

Reported Mean Estimate Surprise % Change

Reference Information - Return On Equity

Analyst Forecasts - Return On Equity

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual Dec 24 15.80 16.32 15.40 15.74 4 -- -- 5.28
Annual Dec 23 15.63 16.20 14.90 15.71 4 -- -- 3.50
Annual Dec 22 15.18 15.46 14.50 15.37 4 -- -- 1.24
Quarterly Mar 23 16.15 16.15 16.15 16.15 1 -- -- 1.83
Quarterly Jun 23 16.79 16.79 16.79 16.79 1 -- -- 1.02
Quarterly Sep 23 16.26 16.26 16.26 16.26 1 -- -- 9.13
Quarterly Dec 22 12.12 12.12 12.12 12.12 1 -- -- 3.68

Actuals - Return On Equity

Reported Mean Estimate Surprise % Change
Annual Dec 21 14.94 8.43 6.51
Annual Dec 20 14.88 13.80 1.08
Annual Dec 19 17.54 17.02 0.52

Reference Information - Sales

Analyst Forecasts - Sales

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual Dec 24 8,646.46 9,105.83 8,307.89 8,638.56 5 3 1 2.64
Annual Dec 23 8,445.79 8,775.57 8,144.99 8,415.00 7 6 1 1.87
Annual Dec 22 7,954.70 8,017.20 7,907.75 7,959.93 7 4 3 0.19
Quarterly Mar 23 2,015.90 2,046.69 1,948.76 2,034.08 4 3 -- 2.64
Quarterly Jun 23 2,152.24 2,233.90 2,105.32 2,134.87 4 3 -- 2.82
Quarterly Sep 23 2,154.94 2,247.03 2,083.69 2,144.53 4 2 1 2.61
Quarterly Dec 22 2,005.38 2,058.20 1,948.75 2,004.01 5 4 1 2.10

Actuals - Sales

Reported Mean Estimate Surprise % Change
Annual Dec 21 6,894.00 6,846.48 0.69
Annual Dec 20 5,987.00 5,955.45 0.53
Annual Dec 19 6,209.00 5,748.58 8.01
Quarterly Sep 22 2,023.00 2,033.24 -0.50
Quarterly Jun 22 2,044.00 1,918.48 6.54
Quarterly Mar 22 1,892.00 1,774.55 6.62
Quarterly Dec 21 1,755.00 1,722.58 1.88

Reference Information - Earnings Per Share (Parent)

Analyst Forecasts - Earnings Per Share (Parent)

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual Dec 24 -- -- -- -- -- -- -- --
Annual Dec 23 -- -- -- -- -- -- -- --
Annual Dec 22 -- -- -- -- -- -- -- --
Quarterly Sep 23 -- -- -- -- -- -- -- --
Quarterly Jun 23 -- -- -- -- -- -- -- --
Quarterly Mar 23 -- -- -- -- -- -- -- --
Quarterly Dec 22 -- -- -- -- -- -- -- --

Actuals - Earnings Per Share (Parent)

Reported Mean Estimate Surprise % Change
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --

Reference Information - Net Income (Parent)

Analyst Forecasts - Net Income (Parent)

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual Dec 24 -- -- -- -- -- -- -- --
Annual Dec 23 -- -- -- -- -- -- -- --
Annual Dec 22 -- -- -- -- -- -- -- --
Quarterly Sep 23 -- -- -- -- -- -- -- --
Quarterly Jun 23 -- -- -- -- -- -- -- --
Quarterly Mar 23 -- -- -- -- -- -- -- --
Quarterly Dec 22 -- -- -- -- -- -- -- --

Actuals - Net Income (Parent)

Reported Mean Estimate Surprise % Change
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --

Reference Information - Operating Profit (Parent)

Analyst Forecasts - Operating Profit (Parent)

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual Dec 24 -- -- -- -- -- -- -- --
Annual Dec 23 -- -- -- -- -- -- -- --
Annual Dec 22 -- -- -- -- -- -- -- --
Quarterly Sep 23 -- -- -- -- -- -- -- --
Quarterly Jun 23 -- -- -- -- -- -- -- --
Quarterly Mar 23 -- -- -- -- -- -- -- --
Quarterly Dec 22 -- -- -- -- -- -- -- --

Actuals - Operating Profit (Parent)

Reported Mean Estimate Surprise % Change
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --

Reference Information - Sales (Parent)

Analyst Forecasts - Sales (Parent)

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change

Actuals - Sales (Parent)

Reported Mean Estimate Surprise % Change
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --
Dec 00 -- -- --

Copyright Refinitiv

About Ingredion

Ingredion Incorporated (NYSE: INGR) headquartered in the suburbs of Chicago, is a leading global ingredient solutions provider serving customers in more than 120 countries. With 2021 annual net sales of nearly $7 billion, the Company turns grains, fruits, vegetables and other plant-based materials into value-added ingredient solutions for the food, beverage, animal nutrition, brewing and industrial markets. With Ingredion Idea Labs® innovation centers around the world and approximately 12,000 employees, the Company co-creates with customers and fulfills its purpose of bringing the potential of people, nature and technology together to make life better. Visit ingredion.com for more information and the latest Company news.


The INGREDION and INGREDION IDEA LABS marks and logos are trademarks of the Ingredion group of companies.
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