Ingredion Inc., $70.38, symbol INGR on New York (Shares outstanding: 77.3 million; Market cap: $5.5 billion; www.ingredion.com), was formerly known as Corn Products International.
The company is one of the world’s largest corn refiners, producing food ingredients, such as corn syrups, and industrial products like starches and enzymes. It makes these goods by milling corn and other starch-based materials.
The company’s geographic sales breakdown as follows: North America (56%), South America (23%), the Asia-Pacific region (13%) and Europe, the Middle East and Africa (8%).
In the three months ended March 31, 2013, Ingredion’s earnings per share before one-time items rose 11.9%, to $1.41 from $1.26 a year earlier. Sales rose slightly, to $1.58 billion from $1.57 billion.
The company raised its prices and saw strong demand from the North American soft drink and brewing industries, as well as higher sales in Asia and Europe. That offset lower revenue from South America. The company’s cost cuts also helped boost its earnings.
Ingredion…
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