06:50 AM EDT, 05/08/2024 (MT Newswires) -- Ingredion ( INGR ) reported Q1 adjusted earnings Wednesday of $2.08 per diluted share, down from $2.80 a year earlier.

Analysts polled by Capital IQ expected $2.06.

Net sales for the quarter ended March 31 were $1.88 billion, down from $2.14 billion a year earlier.

Four analysts surveyed by Capital IQ expected $2.02 billion.

Ingredion ( INGR ) said it expects Q2 net sales to be flat to down low single-digits.

The company said it now expects 2024 adjusted EPS of $9.20 to $9.85. That compares with its prior guidance of $9.15 to $9.85. Analysts surveyed by Capital IQ expect $9.66.

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