10-Q - Ingredion Inc (0001046257) (Filer)

Fri, May 9, 7:34 PM (45 days ago)

**Ingredion Incorporated (INGR) Q1 2025 Financial Summary** **Financial Health & Performance:** - **Revenue:** $1,813 million (down 4% YoY from $1,882 million). - **Net Income:** $197 million (down 9% YoY from $216 million). - **Operating Income:** $276 million (up 30% YoY from $213 million). - **Gross Profit Margin:** 26% (up from 22% YoY). - **Operating Expenses:** $193 million (up 2% YoY). - **Earnings per Share (EPS):** Basic $3.05, Diluted $3.00 (down from Basic $3.29, Diluted $3.23 YoY). **Cash Flow:** - **Operating Cash Flow:** $77 million (down from $209 million YoY). - **Capital Expenditures:** $92 million (up from $65 million YoY). - **Financing Activities:** Net outflow of $154 million (down from $347 million YoY). **Segment Performance:** - **T&HS:** Net sales up 1% to $602 million, operating income up 34% to $99 million. - **F&II - LATAM:** Net sales down 7% to $573 million, operating income up 26% to $127 million. - **F&II - U.S./Canada:** Net sales down 4% to $520 million, operating income up 6% to $92 million. - **All Other:** Net sales down 8% to $118 million, operating income improved to $0 million from $(4) million YoY. **Trends & Uncertainties:** - **Raw Material Costs:** Lower raw material costs positively impacted margins. - **Foreign Exchange:** Unfavorable foreign exchange impacts affected sales. - **Divestitures:** Sale of South Korea business in 2024 impacted comparability. - **Tariffs & Trade:** Monitoring tariff actions and their potential impacts. - **Liquidity:** Total available liquidity of $3.8 billion as of March 31, 2025. **Future Operations Impact:** - **Capital Expenditures:** Anticipated to be between $400 million and $450 million for the remainder of 2025. - **Dividends:** Increased quarterly dividend to $0.80 per share. - **Share Repurchases:** Repurchased 409 thousand shares at a net cost of $55 million in Q1 2025. **Conclusion:** Ingredion's Q1 2025 results reflect a mixed performance with increased operating income and improved margins, offset by lower net income and revenue. The company is focusing on cost management, strategic investments, and navigating geopolitical uncertainties. The outlook remains positive with strong liquidity and a commitment to shareholder returns.