Ingredion Inc (INGR) SEC Filing 10-K Annual report for the fiscal year ending Sunday, December 31, 2017

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Exhibit 99

 

 

Ingredion Incorporated

 

5 Westbrook Corporate Center

NEWS RELEASE

Westchester, IL 60154

 

 

CONTACT:

 

Investors: Heather Kos, 708-551-2592

 

Media: Claire Regan, 708-551-2602

 

INGREDION INCORPORATED REPORTS SOLID FOURTH QUARTER 2017 RESULTS

AND RECORD FULL-YEAR EARNINGS PER SHARE

 

·                  Fourth quarter 2017 reported and adjusted EPS were $1.35 and $1.73, respectively, up from fourth quarter 2016 reported and adjusted EPS of $1.26 and $1.67, respectively

 

·                  Full-year 2017 reported and adjusted EPS were $7.06 and $7.70, respectively, up from $6.55 of reported EPS and $7.13 adjusted EPS in the year-ago period

 

·                  2018 adjusted EPS expected to be in the range of $8.10-$8.50, which includes an estimated one percentage point lower effective tax rate from U.S. tax reform

 

WESTCHESTER, Ill., February 1, 2018 — Ingredion Incorporated (NYSE: INGR), a leading global provider of ingredient solutions to diversified industries, today reported results for the fourth quarter 2017. The results reported in accordance with U.S. generally accepted accounting principles (“GAAP”) for 2017 and 2016 include items which are excluded from the non-GAAP financial measures which we present*.

 

“We concluded 2017 with record earnings per share and operating income. Sales of our higher-value specialty portfolio grew to 28 percent of net sales for the year and the continued integration of our acquisitions of the Sun Flour rice business, TIC Gums and Shandong Huanong Specialty Corn position us for continued growth,” said Jim Zallie, president and chief executive officer. “For the year, specialty-related volume growth, as well as our global optimization efforts drove margin expansion.  North America, Asia Pacific and EMEA achieved record operating income.  South America, although down, completed an important organizational restructuring, enabling a more cost competitive position going forward.

 

“We expect continued growth in our specialty portfolio, disciplined cost management, and ongoing capital investments to support margin expansion. Additionally, we will explore potential M&A opportunities that drive specialty growth. We remain committed to creating long-term shareholder value. For 2018, we anticipate adjusted EPS of $8.10 to $8.50,” Zallie added.

 


The following information was filed by Ingredion Inc on Thursday, February 1, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Exhibit 10.23 - MATERIAL CONTRACT

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Exhibit 10.24 - MATERIAL CONTRACT

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Exhibit 10.25 - MATERIAL CONTRACT

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Exhibit 12.1 - STATEMENT REGARDING CALCULATION OF RATIOS

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Exhibit 21.1 - SUBSIDARIES OF THE REGISTRANT

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Exhibit 23.1 - CONSENTS OF EXPERTS AND COUNSEL

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Exhibit 24.1 - POWER OF ATTORNEY

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Exhibit 31.1 - RULE 13A-14(A)/15D-14(A) CERTIFICATION

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Exhibit 31.2 - RULE 13A-14(A)/15D-14(A) CERTIFICATION

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Exhibit 32.1 - SECTION 1350 CERTIFICATION

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Exhibit 32.2 - SECTION 1350 CERTIFICATION

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  • Form Type: Annual
  • Number of times amended: 0
  • Accession Number: 0001558370-18-000857
  • Submitted to the SEC: Wednesday, February 21, 2018 4:54:20 PM EST
  • Accepted by the SEC: Wednesday, February 21, 2018
  • Fiscal Year ending: December 2017
  • Industry: Grain Mill Products