2021年第二季度展望和全年展望

第二季度，公司预计与去年同期相比，净销售额增长20%至30%，营业收入增长略高于净销售额增长。

鉴于上半年业绩预期，公司预计全年净销售额将实现低两位数增长，原因是玉米成本上涨、价格组合强劲和销量恢复。全年来看，公司预计调整后营业收入将实现中位数增长，主要受特种原料增长、其他销量恢复和成本智能节约的推动，其中部分被预计的下半年玉米成本上涨所抵消。由于环境持续的不确定性，公司目前不能为2021年全年每股收益和经营现金流量提供指导。

全年公司成本预计持平。公司预计，报告的实际税率为70%至75%，调整后的实际税率为28.0%至29.0%。随着Arcor合资企业的预期结束，公司预计南美洲业务部门的业绩、融资成本和税率报告将在今年下半年更新。

资本投资承诺预计介于3.3亿美元至3.5亿美元之间。

电话会议和直播详情

Ingredion将于2021年5月4日（星期二）上午8时（中部时间）举行电话会议 会议由总裁兼首席执行官Jim Zallie以及执行副总裁兼首席财务官James Gray主持。电话会议将进行实时网络直播，可通过以下网站访问https://ir.ingredionincorporated.com/events-and-presentations。电话会议提供 演示稿 ，可于会议开始前几小时在公司网站下载。网络直播将通过 https://ir.ingredionincorporated.com/financial-information/quarterly-results网站提供限时重放。

公司简介

Ingredion Incorporated（纽约证券交易所股票代码: INGR）总部位于芝加哥郊区，是全球领先的原料解决方案提供商，为全球120多个国家/地区的客户提供服务。公司将谷物、水果、蔬菜和其他植物材料转化为食品、饮料、动物饲料和工业市场使用的增值原料材料解决方案，2020年净销售额为60亿美元。凭借遍布世界各地的Ingredion Idea Labs®️创新中心和约12000名员工，公司与客户共同确立并实现其目标：融合人、自然和科技的潜力，创建更美好的生活。如需了解更多信息和最新的公司新闻，请访问ingredion.com 。

前瞻性声明

本新闻稿含有或可能含有《1933年证券法案》第27A节（及其修订案）以及《1934年证券交易法案》第21E节（及其修订案）中定义的前瞻性声明。公司拟将这些前瞻性声明纳入该等声明的安全港条款。

除其他事项之外，前瞻性声明包括任何关于公司未来前景、财务状况、净销售额、营业收入、销量、企业成本、税率、资本支出、费用或其他财务项目的任何陈述，以及任何有关公司前景或未来运营的陈述，包括管理层为此制定的计划、战略和目标，以及基于上述内容的任何假设、期望或信念。

这些陈述有时可以通过以下词语的使用加以辨别，如“可能”、“将要”、“应该”、“预期”、“假设”、“相信”、“计划”、“预估”、“估计”、“期望”、“打算”、“继续”、“估算”、“预测”、“展望”、“推进”、“机会”、“潜力”、“暂定”、其他类似表达或负面表达。本新闻稿中包含或提及的、或引用中所述的历史事实之外的所有陈述均为“前瞻性声明”。

这些陈述均基于当前情况或预期作出，但存在某些固有的风险和不确定性，其中很多难以预测并且超出我们的控制范围。我们相信这些前瞻性声明所反映的预期均基于合理假设，但投资者须注意：我们无法担保这些预期将成为现实。

由于各类因素影响，实际结果和发展可能与这些声明中明示或暗示的预期显著不同，其中包括：新冠疫情对我们的产品需求和财务结果的影响；与高果糖玉米糖浆和我们其他产品相关的消费偏好的改变；全球经济状况以及在我们购买原材料或产销产品的各地理区域和国家/地区影响到客户和消费者的总体政治、经济、商业和市场状况的影响，特别包括南美的经济、货币和政治状况和欧洲的经济和政治状况及其可能对我们产品销售量和定价、我们对信用市场的利用和我们向客户收取应收账款能力的影响；我们养老金资产投资回报收益方面的不利变化；我们所服务并且作为我们销售额重要来源的主要行业的未来财务表现，包括但不限于食品、饮料、动物饲料；对通过基因编辑和生物技术所开发产品之接受度的不确定性；我们开发或获得新产品和服务的速度和质量足以满足期望和获得市场认可的能力；美国和外国政府政策、法规或监管的变动以及法律合规性成本；玉米加工行业和相关行业日益增长的竞争和/或消费者压力，包括在我们主要产品和副产品（尤其是玉米油）的市场和价格方面；原材料的供应情况，包括马铃薯淀粉、木薯淀粉、阿拉伯树胶和我们某些产品所需的特殊玉米品种，以及我们向客户转嫁玉米或其他原材料成本上涨的能力；原材料和能源成本及供应情况，包括巴基斯坦能源问题；我们消化成本、完成预算和实现预期协调的能力，包括我们能够按预算按时完成计划维护和投资项目，以及按照成本智能计划和货运和运输成本方面实现预期节约的能力；金融和资本市场的表现以及对我们借贷成本的影响，包括由于外币波动、利率和汇率波动以及市场波动而产生的风险以及对冲此类波动的相关风险；气候变化的潜在影响；我们按有利条款成功确定并完成收购或结成战略联盟的能力，以及我们成功整合所收购企业或实施并在上述所有方面维持战略联盟实现预期协同作用的能力；我们生产厂的运营困难；商誉或长期资产减值的影响；税率变动或额外所得税负债敞口；我们维持良好劳资关系的能力；自然灾害、战争或类似敌对活动、恐怖主义活动或威胁、新冠肺炎等流行病疫情的爆发或持续以及其他可能对我们业务造成的影响的、我们无法控制的重大事件；政府政策、法律或规章的变动以及包括遵守环境规章在内的遵守法规成本；气候变化的潜在影响；信息技术系统、程序和网站相关的安全问题；我们以合理利率为我们的未来增长和扩张进行筹款的能力及其它影响我们获得充足资金的因素；股票市场的不稳定性和其他可能对我们的股价造成负面影响的因素；可能影响我们持续执行股息政策的风险；我们及时修复关于财务报告的内部控制方面存在的实质性弱点的能力。

我们的前瞻性声明仅针对截至声明日期的情况，我们无任何义务在声明日期之后因为任何新的信息或未来事件或发展而更新任何前瞻性声明以反映事件或情况。如果我们确实更新或更正了其中一项或多项声明，投资者和其他人不应该就此推断我们将进行其他更新或更正。有关这些和其他风险的进一步描述，请参见截至2020年12月31日的年度报告（表10-K）以及后续报告（表10-Q和8-K上）中收录的“风险因素”和其他信息。

联系人：
投资者：Tiffany Willis，708-551-2592
媒体：Becca Hary，708-551-2602







 

   

To supplement the consolidated financial results prepared in accordance with U.S. generally accepted accounting principles (“GAAP”), we use non-GAAP historical financial measures, which exclude certain GAAP items such as acquisition and integration costs, restructuring and impairment cost, Mexico tax provision, and certain other special items. We generally use the term “adjusted” when referring to these non-GAAP amounts.

 

Management uses non-GAAP financial measures internally for strategic decision making, forecasting future results and evaluating current performance. By disclosing non-GAAP financial measures, management intends to provide investors with a more meaningful, consistent comparison of our operating results and trends for the periods presented. These non-GAAP financial measures are used in addition to and in conjunction with results presented in accordance with GAAP and reflect an additional way of viewing aspects of our operations that, when viewed with our GAAP results, provide a more complete understanding of factors and trends affecting our business. These non-GAAP measures should be considered as a supplement to, and not as a substitute for, or superior to, the corresponding measures calculated in accordance with GAAP.

 

Non-GAAP financial measures are not prepared in accordance with GAAP; therefore, the information is not necessarily comparable to other companies. A reconciliation of each non-GAAP historical financial measure to the most comparable GAAP measure is provided in the tables below.

Notes                                                                                    
                                                                                                 
(i) The 2021 period primarily includes costs related to the acquisition and integration of the business acquired from PureCircle Limited. Acquisition and integration costs presented in the "reconciliation of adjusted net income attributable to Ingredion" table are net of costs attributable to non-controlling interest.
                                                                                                 
(ii) During the three months ended March 31, 2021, the Company recorded $10 million of pre-tax restructuring/impairment charges, consisting of $5 million of employee-related and other costs, including professional services, associated with its Cost Smart SG&A program, $3 million of restructuring-related expenses as part of its Cost Smart cost of sales program, primarily in North America, and $2 million of employee-related and other costs related to the Arcor joint venture transaction expected to close in the third quarter of 2021.
 
During the three months ended March 31, 2020, the Company recorded $14 million of pre-tax restructuring/impairment charges, consisting of $9 million of restructuring related expenses as part of its Cost Smart cost of sales program and $5 million of employee-related and other costs, including professional services, associated with its Cost Smart SG&A program.
                                                                                                 
(iii) During the three months ended March 31, 2021, the Company recorded a $360 million held for sale impairment charge related to the Arcor joint venture. The impairment charge reflects write-down to fair value of the contribution of certain Argentina, Chile and Uruguay assets and liabilities that will be contributed to the Arcor joint venture. The impairment charge reflects a $49 million write-down of the contributed net assets to the agreed upon fair value and a $311 million valuation allowance for the cumulative translation losses related to these net assets that will be released from Accumulated Other Comprehensive Loss on the balance sheet at the close of the transaction.
                                                                                                 
(iv) The tax item represents the impact of the Company’s use of the U.S. dollar as the functional currency for its subsidiaries in Mexico. Mexico’s effective tax rate is strongly influenced by the remeasurement of the Mexican peso financial statements into U.S. dollars. The company recorded a discrete tax provision of $3 million and $22 million for the three months ended March 31, 2021 and 2020, respectively, as a result of the movement of the Mexican peso against the U.S. dollar during the periods.
                                                                                                 
(v) If GAAP net income is negative and Non-GAAP Adjusted Net Income is positive, adjusted diluted weighted average common shares outstanding will include any options, restricted share units, or performance shares that would be otherwise dilutive instruments using the treasury stock method, until the effect of these adjustments is anti-dilutive. During the three months ended March 31, 2021 the incremental dilutive share impact of these instruments was 0.6 million shares of common stock equivalents. The diluted weighted average shares outstanding of 67.3 million would increase to an adjusted diluted weighted average common shares outstanding of 67.9 million for the three months ended March 31, 2021. There is no impact to the three months ended March 31, 2020.

II. Non-GAAP Information (continued)


 

Above is a reconciliation of our anticipated full year 2021 GAAP ETR to our anticipated full year 2021 adjusted ETR. The amounts above may not reflect certain future charges, costs and/or gains that are inherently difficult to predict and estimate due to their unknown timing, effect and/or significance. These amounts include, but are not limited to, acquisition and integration costs, impairment and restructuring costs, and certain other special items. We generally exclude these items from our adjusted ETR guidance. For these reasons, we are more confident in our ability to predict adjusted ETR than we are in our ability to predict GAAP ETR.

   

For items (i) through (iv), see footnotes included in the Reconciliation of GAAP Net (Loss) Income attributable to Ingredion and Diluted EPS to Non-GAAP Adjusted Net Income attributable to Ingredion and Adjusted Diluted EPS.

(vi) This relates to other tax settlements.
 
(vii) Indirect impact of tax rate after items (i) through (vi).