INGREDION INCORPORATED REPORTS STRONG GROWTH IN SECOND QUARTER 2022

• Second quarter 2022 reported and adjusted EPS* were both $2.12, compared to second quarter 2021 reported and adjusted EPS of $2.62 and $2.05, respectively

• Year-to-date 2022 reported and adjusted EPS were $4.04 and $4.06, respectively, compared to $(1.01) and $3.90 in the year-ago period, respectively

• The Company expects full year 2022 adjusted earnings per share to be in the range of $6.90-$7.45

WESTCHESTER, Ill., Aug 10 (Bernama-GLOBE NEWSWIRE) -- Ingredion Incorporated (NYSE: INGR), a leading global provider of ingredient solutions to the food and beverage manufacturing industry, today reported results for the second quarter of 2022. The results, reported in accordance with U.S. generally accepted accounting principles (“GAAP”) for 2022 and 2021, include items that are excluded from the non-GAAP financial measures that the Company presents. “Our teams delivered our strongest quarter since 2017,” said Jim Zallie, Ingredion’s president and chief executive officer. “Net sales growth of 16% reflected robust customer demand, which drove comparable volume growth; this, along with active price mix management, enabled us to fully offset higher input costs. As a result, our adjusted operating income was up over last year’s strong performance and was higher than our expectations.”

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