Ingredion (INGR) Q3 FY2021 earnings: revenue $1.8 billion, up 17.4% on the year
Ingredion Inc. (INGR) reported revenue of $1.8 billion for Q3 FY2021, the quarter ended 30 September 2021, up 17.4% on the same quarter a year earlier. Net income was $118 million, up 28.3% on the year, and diluted earnings per share $1.75. The figures are the company's own, from the 10-Q it filed with the SEC on 5 November 2021.
Revenue
$1.8 billion
+17.4% on the year · +0.1% on the quarter
Q4 FY2019Q3 FY2021
Operating margin
9.8%
10.2% a year earlier
Q4 FY2019Q3 FY2021
Net income
$118 million
+28.3% on the year · -33.7% on the quarter
Q4 FY2019Q3 FY2021
Diluted EPS
$1.75
+28.7% on the year · -33.2% on the quarter
Q4 FY2019Q3 FY2021
this quarterthe same quarter a year earlierHover a bar for its figure.
Income statement (profit and loss)
$ million
Q3 FY2021
Q2 FY2021
Q3 FY2020
On the quarter
On the year
Last 8 quarters
Revenue
1,763
1,762
1,502
+0.1%
+17.4%
Cost of revenue
1,440
1,395
1,176
+3.2%
+22.4%
Gross profit
323
367
326
-12.0%
-0.9%
Gross margin
18.3%
20.8%
21.7%
Operating income
172
222
153
-22.5%
+12.4%
Operating margin
9.8%
12.6%
10.2%
Pre-tax income
153
205
133
-25.4%
+15.0%
Income tax
34.0
24.0
40.0
+41.7%
-15.0%
Effective tax rate
22.2%
11.7%
30.1%
Net income
118
178
92.0
-33.7%
+28.3%
Net margin
6.7%
10.1%
6.1%
Diluted EPS
$1.75
$2.62
$1.36
-33.2%
+28.7%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
Q3 FY2021
Q2 FY2021
Q3 FY2020
On the quarter
On the year
Last 8 quarters
Operating cash flow
130
107
268
+21.5%
-51.5%
Capital expenditure
86.0
52.0
75.0
+65.4%
+14.7%
Free cash flow
44.0
55.0
193
-20.0%
-77.2%
Free cash flow margin
2.5%
3.1%
12.8%
Cash from investing
-81.0
-93.0
-282
Cash from financing
-142
-54.0
-481
Depreciation and amortisation
52.0
51.0
52.0
+2.0%
0.0%
Share-based compensation
4.0
6.0
6.0
-33.3%
-33.3%
Dividends paid
45.0
50.0
45.0
-10.0%
0.0%
Dividend per share
$0.65
$0.64
$0.64
+1.6%
+1.6%
Diluted shares, weighted
68m
68m
68m
-0.4%
0.0%
Shares outstanding at period end
67m
67m
67m
-0.7%
-0.7%
Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.
Balance sheet
$ million
Q3 FY2021
Q2 FY2021
Q3 FY2020
On the quarter
On the year
Last 8 quarters
Shareholders' equity
3,084
2,822
2,744
+9.3%
+12.4%
Non-controlling interest
19.0
22.0
21.0
-13.6%
-9.5%
Redeemable equity
32.0
28.0
32.0
+14.3%
0.0%
Debt
2,146
2,201
2,177
-2.5%
-1.4%
Operating lease liabilities
152
152
123
0.0%
+23.6%
Other liabilities
1,553
1,873
1,367
-17.1%
+13.6%
Total liabilities and equity
6,986
7,098
6,464
-1.6%
+8.1%
Fixed assets
2,369
2,386
2,354
-0.7%
+0.6%
Goodwill
916
913
841
+0.3%
+8.9%
Intangible assets
424
431
479
-1.6%
-11.5%
Cash and equivalents
434
542
553
-19.9%
-21.5%
Receivables
1,128
1,140
913
-1.1%
+23.5%
Inventory
1,093
1,054
908
+3.7%
+20.4%
Other assets
622
632
416
-1.6%
+49.5%
Total assets
6,986
7,098
6,464
-1.6%
+8.1%
Questions
What was Ingredion's revenue in Q3 FY2021?
Ingredion (INGR) reported revenue of $1.8 billion for Q3 FY2021, the quarter ended 30 September 2021, up 17.4% on the same quarter a year earlier.
How much did Ingredion earn in Q3 FY2021?
Net income for Q3 FY2021 was $118 million, up 28.3% on the year, and diluted earnings per share $1.75.
When did Ingredion report Q3 FY2021 results?
Ingredion filed its 10-Q for the quarter ended 30 September 2021 with the SEC on 5 November 2021.
Each quarter as filed, linked to its filing. Read moreMoney is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.
10-Q for the period ended 30 September 2021, filed 5 November 2021: the filing.