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Ingredion Incorporated (NYSE: INGR) is a leading global provider of ingredient solutions, headquartered in the Chicago suburb of Westchester, Illinois. The company transforms raw materials such as corn, tapioca, potatoes, stevia, grains, fruits, gums, and vegetables into high-value ingredients that serve multiple industries including food, beverage, brewing, and pharmaceuticals, as well as various industrial sectors.
With a workforce of more than 11,000 employees, Ingredion serves customers in over 120 countries. The company’s diverse product lines encompass both specialty and core ingredients. Specialty ingredients include starch-based texturizers, natural alternative sweeteners like stevia, and plant proteins for alternative dairy and snacks. Core ingredients cover sweeteners such as high-fructose corn syrup and commodity starches used in sustainable packaging.
Ingredion's strategic initiatives have driven recent growth and innovation. Through acquisitions, organic growth, and significant research and development efforts, the company continually enhances its product offerings to meet market demands. Ingredion's ingredients are pivotal in providing sweetness, taste, texture, immune system support, fat replacement, and adhesive strength, among other benefits, making foods and beverages healthier and more sustainable.
Recent announcements highlight Ingredion's forward-thinking strategies. For instance, the company has completed the sale of its South Korean business to an affiliate of the Sajo Group, reinforcing its focus on global growth and shareholder value. This transaction is part of Ingredion’s broader strategy to optimize its asset portfolio.
Financially, Ingredion has demonstrated robust performance. In 2023, the company reported annual net sales of approximately $8 billion, with a significant increase in operating income. This financial resilience is attributed to targeted pricing actions and cost-saving initiatives, enabling Ingredion to navigate market volatility effectively.
Partnerships play a crucial role in Ingredion’s growth. The recent collaboration with LBB Specialties, where Ingredion will be the exclusive channel partner in the U.S. and Canada for personal care products, exemplifies this. Additionally, strategic appointments, such as Dr. Michael Leonard as the senior vice president and chief innovation officer, underscore Ingredion’s commitment to innovation and leadership in the industry.
Ingredion’s future outlook remains strong. The company anticipates continued profitability and margin expansion, driven by its diverse product portfolio and strategic business reorganization. With plans to further invest in organic growth, dividends, and share repurchases, Ingredion is well-positioned to deliver long-term value to its shareholders.
Ingredion has announced the acquisition of 100% ownership of Verdient Foods Inc., expected to close this month. The acquisition enables Ingredion to enhance its manufacturing capabilities and meet the growing consumer demand for plant-based foods. The company has invested over $200 million in plant-based proteins and anticipates total investments to exceed $200 million by 2020. The acquisition aligns with Ingredion's strategy to capitalize on megatrends in the global food industry.
Ingredion reported third quarter 2020 results with reported EPS at $1.36 and adjusted EPS at $1.77, showing declines from $1.47 and $1.86 in 2019. Year-to-date figures also fell, with reported EPS at $3.45 compared to $4.51 last year. The company plans to acquire 100% ownership of Verdient Foods Inc. to enhance its plant-based protein portfolio. Despite these challenges, Ingredion saw a 35% increase in operating income from the previous quarter due to improved customer demand as COVID-19 restrictions eased.
Ingredion Incorporated (NYSE: INGR) is set to release its 2020 third quarter financial results on November 2, 2020, before the market opens. The report will cover the period ending September 30, 2020. Following the release, Jim Zallie, president and CEO, along with James Gray, CFO, will discuss the results in a conference call scheduled for 8 a.m. CT. The call will be available via webcast, with a replay option offered on their website. Ingredion, a global ingredient solutions provider, reported over $6 billion in net sales for 2019 and operates in over 120 countries.
The board of directors of Ingredion has declared a quarterly dividend of $0.64 per share, payable on October 26, 2020. This dividend increase marks the sixth consecutive year of growth in the third quarter. Ingredion, headquartered in Westchester, Illinois, reported over $6 billion in net sales for 2019, operating in more than 120 countries. The company specializes in transforming plant-based materials into value-added ingredient solutions across various sectors including food and beverage.
Ingredion Incorporated (NYSE: INGR) announced it will release its 2020 second quarter financial results on August 4, 2020, before market opening. A conference call led by Jim Zallie, CEO, and James Gray, CFO, will follow at 8 a.m. CT to discuss the financial performance. This leading global ingredient solutions provider reported over $6 billion in annual net sales for 2019, serving over 120 countries. With a team of over 11,000 employees, Ingredion continues to innovate in various markets including food and beverage.
Ingredion Incorporated (NYSE: INGR) announced the appointment of Jeremy Xu as senior vice president and chief innovation officer, effective October 1, 2020. Xu, who has experience in leading innovation at Royal DSM and a 16-year tenure at DuPont, will focus on advancing specialty growth platforms and overseeing Ingredion Idea Labs® innovation centers. He succeeds Tony DeLio, who is retiring in February 2021. Xu holds multiple degrees, including a doctorate from Purdue University, and is fluent in English, Mandarin, and Cantonese.
Ingredion Incorporated (NYSE: INGR) has declared a quarterly dividend of $0.63 per share, payable on July 27, 2020. Stockholders of record as of July 1, 2020 will receive the dividend. The company reported over $6 billion in annual net sales for 2019, emphasizing its role as a global ingredient solutions provider across various markets, including food and beverage. With a workforce of over 11,000 employees and multiple innovation centers worldwide, Ingredion focuses on co-creating solutions to enhance the value of plant-based materials.
Ingredion Incorporated (NYSE: INGR) has announced an exclusive agreement with Northern Quinoa Production Corporation (NorQuin) to distribute NorQuin's quinoa flours globally. This partnership aims to enhance Ingredion's specialty portfolio amid rising demand for plant-based proteins. Additionally, a financial arrangement allows for a potential future equity investment in NorQuin. The collaboration is expected to leverage NorQuin's two decades of quinoa research and Ingredion's extensive distribution channels to create innovative quinoa-based protein offerings for food manufacturers.
Ingredion Incorporated (NYSE: INGR) has announced the pricing of a $600 million offering of 2.900% senior notes due 2030 and a $400 million offering of 3.900% senior notes due 2050. The offering, expected to close on May 13, 2020, will generate approximately $986 million in net proceeds. These funds will be used to repay outstanding debts, including those under their revolving credit facility, and for general corporate purposes. The offering is managed by BofA Securities, Citigroup, and J.P. Morgan.
Ingredion Incorporated (NYSE: INGR) announced its participation in the virtual BMO Capital Markets 15th Annual Farm to Market Conference on May 13, 2020. The presentation will be led by Jim Zallie, CEO, and James Gray, CFO, at 11:20 a.m. EDT and will be broadcast live on ir.ingredionincorporated.com. A replay will be available on the company's website. Ingredion provides ingredient solutions worldwide, serving over 120 countries with annual sales exceeding $6 billion.
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