Corn Products International Inc. posted a higher-than-expected quarterly profit, helped by strong volume growth, and raised its 2010 profit outlook.
The company expects a full-year profit of $2.55 to $2.75 per share, compared with its earlier estimate of $2.25 to $2.60 a share.
For the second half, it sees a profit of $1.17 to $1.37 per share.
Analysts on average were expecting a full-year net income of $2.57 a share, according to Thomson Reuters I/B/E/S.
For the latest second quarter, the company’s net income was $37 million, or 48 cents a share, compared with $84.8 million, or $1.13 a share, in the year-ago quarter.
Net sales rose 10 percent to $1 billion, helped mainly by higher volumes from South America.
Shares of the Westchester, Ill.-based company closed at $34.14 on Monday on the New York Stock Exchange.
