12:26 PM EST, 11/05/2024 (MT Newswires) -- (Updates with stock price movement in headline and first paragraph)

Ingredion ( INGR ) shares jumped 13% in recent Tuesday trading after the company's Q3 earnings came ahead of estimates.

The company reported Q3 adjusted earnings of $3.05 per diluted share, up from $2.33 a year earlier.

Four analysts polled by Capital IQ expected $2.58.

Revenue for the quarter ended Sept. 30 was $1.87 billion, down from $2.03 billion a year earlier.

Three analysts surveyed by Capital IQ expected $1.94 billion.

For 2024, the food additives company raised its adjusted EPS outlook to between $10.35 and $10.65 per diluted share from its previous guidance of $9.70 to $10.20.

Analysts polled by Capital IQ expect $9.97.

Price: 151.66, Change: +17.62, Percent Change: +13.14