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Ingredion Incorporated Reports Second Quarter 2026 Results

INGR
  • Ingredion reported second quarter 2026 reported operating income decreased 31% to $188 million & adjusted operating income decreased 5% to $258 million compared to the second quarter 2025.
  • Second quarter 2026 reported diluted EPS was $1.78 & adjusted diluted EPS was $2.82, down from $2.99 & $2.87 in the second quarter 2025.
  • Total net sales for the second quarter were $1,850 million, a 1% increase driven by volume growth in Texture & Healthful Solutions & favorable foreign exchange in LATAM.
  • The company completed the sale of its majority stake in the Pakistan business, generating a $44 million net gain on sale.
  • Ingredion shareholders accepted the company's 595 pence all-cash offer to acquire Tate & Lyle on July 28, 2026.
  • Full-year 2026 reported EPS guidance was reaffirmed at $9.15 to $9.75, with adjusted EPS guidance set at $10.30 to $10.90, reflecting the impact of the Pakistan business sale.
  • Texture & Healthful Solutions segment reported $627 million in net sales with operating income of $117 million, up 5% from the prior year.
  • Food & Industrial Ingredients—U.S./CAN operating income declined 33% to $58 million due to lower production at the Argo plant & softer volumes.
  • Food & Industrial Ingredients—LATAM operating income decreased 10% to $118 million excluding foreign exchange impacts, driven by currency challenges & demand pressures.
  • Net financing costs rose to $55 million in the quarter, primarily due to a $47 million mark-to-market foreign exchange loss on derivatives related to the Tate & Lyle acquisition.
  • Total debt stood at $1.8 billion as of June 30, 2026, with cash & short-term investments totaling $952 million.
  • The company paid $52 million in dividends in the second quarter & repurchased $14 million of common stock year-to-date against a $100 million annual target.
  • Third quarter 2026 net sales are expected to rise low single digits, while reported & adjusted operating income are expected to decline mid-single digits.
  • Full-year 2026 capital expenditures are projected to be $450 to $490 million, with cash from operations expected between $700 million & $800 million.