Shares in Ingredion and HelloFresh drop despite positive finances

Ingredion and HelloFresh both reported good news for shareholders with positive news on their finances.

Shares in Ingredion were down 3.7 per cent to $ 84.69 this week, despite it topping analysts’ estimates in its latest set of quarterly financial figures.

The food sweetener, starch and ingredients firm reported $2.05 earnings per share (EPS) for the quarter, ahead of estimates of $1.59 by $0.46.

Revenue for the quarter came in at  $1.76 billion, compared to analysts' estimates of $1.74 billion while income was reported at $222 million in the quarter.

Ingredion's shares have seen a double-digital increase over the past 12 months.

Jim Zallie, Ingredion’s president and CEO, said the quarter marked its strongest since 2017.

Elsewhere, shares in Berlin-based HelloFresh were down 6.9 per cent to €73.56 in the week that it gave a more upbeat assessment of its full year financial performance.

HelloFresh said that now it expects full year revenue growth, on a constant currency basis, to increase from between 35 per cent and 45 per cent to be between 45 per cent and 55 per cent.

The meal kit delivery firm, which saw a big jump in customer numbers benefiting from the trend of ordering food online during the pandemic, said the more positive outlook for the year was based on “strong customer growth and “continued higher order rates”.

Also down this week were shares in Laird Superfood, which fell 13.4 per cent to $24.15.  This week the plant-based packaged drinks company announced the seasonal relaunch of its Pumpkin Spice coffee creamer.

Laird Hamilton, co-founder, Laird Superfood. "The all new pumpkin spice creamers are a guilt-free option compared to other overly sweet pumpkin spice beverages.”