Ingredion reported earlier Wednesday Q3 results which improved year-over-year and beat expectations compiled by Capital IQ. The company also raised its FY16 adjusted EPS outlook above the Street view.
Q3 adjusted EPS was $1.96 per share, up from $1.64 per share a year earlier and higher than the $1.78 per share consensus. Revenues rose 4% year-over-year to $1.49 billion and were above the $1.46 billion mean estimate.
For FY16, the nutritional ingredient company now expects adjusted EPS of $6.96 to $7.10 per share, up from a prior view for $6.70 to $6.90 per share and above the $6.82 per share consensus.