INGR Q3 2022 Earnings Report — Ingredion Incorporated Revenue & Financial Results | Market Cap Arena

Ingredion IncorporatedINGR

Q3 2022 Earnings

Reported November 7, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q3 2022	Q2 2022	Q3 2021	QoQ Change	YoY Change
Revenue	$2.0B	—	$1.8B	—	14.7%
Op. Income	$182M	—	$172M	—	5.8%
Gross Margin	18.5%	—	18.3%	—	0.2pp
Net Margin	5.2%	—	6.7%	—	-1.5pp
EPS (Diluted)	$1.59	—	$1.75	—	-9.1%
Free Cash Flow	$25M	—	$44M	—	-43.2%

Revenue Flow

Item	Amount
REVENUE	$2.0B
Cost of Revenue	$1.6B
GROSS PROFIT	$374M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$192M
Operating Expenses	$192M
Cost & Expenses	$1.8B
OPERATING INCOME	$182M
Interest Income	$0
Interest Expense	$24M
Other Income/Expenses	-$21M
INCOME BEFORE TAX	$161M
Income Tax Expense	$52M
Net Income from Continuing Ops	$109M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$106M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$106M
D&A	$53M
EBIT	$185M
EBITDA	$238M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$2.0B
Cost of Revenue	$1.6B
GROSS PROFIT	$374M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$192M
Operating Expenses	$192M
Cost & Expenses	$1.8B
OPERATING INCOME	$182M
Interest Income	$0
Interest Expense	$24M
Other Income/Expenses	-$21M
INCOME BEFORE TAX	$161M
Income Tax Expense	$52M
Net Income from Continuing Ops	$109M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$106M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$106M
D&A	$53M
EBIT	$185M
EBITDA	$238M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$106M
Depreciation & Amortization	$53M
Stock-Based Compensation	$7M
Deferred Income Tax	$0
Other Non-Cash Items	$135M
Change in Working Capital	-$217M
OPERATING CASH FLOW	$84M
Capital Expenditure	-$59M
Acquisitions (Net)	-$7M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$0
NET CASH FROM INVESTING	-$66M
Net Debt Issuance	-$4M
Common Stock Repurchased	-$29M
Common Dividends Paid	-$47M
Other Financing Activities	$57M
NET CASH FROM FINANCING	-$23M
FREE CASH FLOW	$25M
Net Change in Cash	-$24M

Balance Sheet

Item	Amount
Cash & Equivalents	$294M
Short-Term Investments	$4M
Net Receivables	$1.4B
Inventory	$1.5B
Other Current Assets	$0
TOTAL CURRENT ASSETS	$3.3B
PP&E (Net)	$2.3B
Goodwill	$0
Intangible Assets	$1.3B
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$541M
TOTAL NON-CURRENT ASSETS	$4.1B
TOTAL ASSETS	$7.4B
Account Payables	$0
Short-Term Debt	$709M
Deferred Revenue	$0
Other Current Liabilities	$1.2B
TOTAL CURRENT LIABILITIES	$1.9B
Long-Term Debt	$1.7B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$536M
TOTAL NON-CURRENT LIABILITIES	$2.3B
TOTAL LIABILITIES	$4.2B
Common Stock	$1M
Additional Paid-In Capital	$1.1B
Retained Earnings	$4.1B
Treasury Stock	-$1.2B
Accum. Other Comp. Income	-$1.1B
Other Equity	$43M
TOTAL STOCKHOLDERS' EQUITY	$3.1B
Minority Interest	$70M
TOTAL EQUITY	$3.2B
TOTAL LIABILITIES & EQUITY	$7.4B
Total Debt	$2.4B
Net Debt	$2.2B