Ingredion's year-to-date 2026 net income fell to $398 million from $564 million as higher costs and a Bedford Park thermal event pressured results. The pending all-cash Tate & Lyle acquisition values its equity at approximately £2.7 billion, or approximately $3.5 billion.
INGR · Ingredion Inc
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Ingredion lowered its 2026 outlook as higher Argo manufacturing costs, tapioca inflation, soft demand and a stronger Mexican peso reduced profitability; adjusted EPS is now expected to be $9.25 to $9.70.
Ingredion reported third-quarter operating income down 19% and lowered full-year reported diluted EPS guidance to $8.04 to $8.49 and adjusted diluted EPS guidance to $9.25 to $9.70.
Metrics snapshot
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AI Brief
Q3 FY26 earnings call · Nov 5, 2026TL;DR. T&HS delivered a 10th consecutive quarter of volume growth, LATAM sales rose 7%, Argo production stabilized, the Tate & Lyle acquisition progressed, and shareholder returns continued. Operating income, adjusted diluted EPS and year-to-date cash from operations declined, full-year guidance was lowered, and Argo costs, weak demand, higher tapioca costs, currency effects and earthquake disruption remained material headwinds.
- + Texture & Healthful Solutions delivered its 10th consecutive quarter of net sales volume growth, supported by global clean-label demand. new
- + Excluding Pakistan, third-quarter net sales increased 2%, driven by favorable foreign exchange and higher volumes in F&II–LATAM and T&HS. new
- + Argo production remained stable for a second consecutive quarter and inventories of key products were largely rebuilt. new
- + The Tate & Lyle acquisition continued through regulatory and antitrust reviews, with a target to close in the second half of 2027 and integration planning underway. new
- + Ingredion raised its quarterly dividend to $0.83 per share, extended its annual increase streak to 12 years, and remained on track to complete $100 million of share repurchases. new
- + F&II–LATAM third-quarter net sales increased 7%, driven by favorable foreign exchange and higher volumes. new
- − Management lowered full-year guidance to adjusted diluted EPS of $9.25–$9.70 and adjusted operating income down mid-teens, while F&II–U.S./CAN operating income is now expected to decline 35-40%. new
- − Third-quarter reported and adjusted diluted EPS declined to $2.23 and $2.28 from $2.61 and $2.75, respectively, in the prior-year quarter. new
- − Higher tapioca costs and manufacturing expense reduced Texture & Healthful Solutions operating income despite positive volume growth. new
- − F&II–LATAM third-quarter operating income decreased $7 million to $109 million, primarily because of Mexican peso transaction effects and earthquake-related disruption in Colombia. new
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
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Guidance & track record
Still-open targets the latest release did not restate under the same label.
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
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Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| Non-GAAP adjusted operating income | $206M | FY2026 Q3 | -18.9% |
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| Adjusted diluted EPS non-GAAP | $5.16 | Six Months Ended June 30, 2026 | — |
| Adjusted effective income tax rate non-GAAP | 26.3% | Six Months Ended June 30, 2026 | — |
| All Other net sales | 124M | second quarter 2026 | — |
| All Other operating income | 6M | second quarter 2026 | — |
| Cash, including short-term investments | 952M | June 30, 2026 | — |
| Dividends paid | 52M | second quarter 2026 | — |
| Food & Industrial Ingredients–LATAM net sales | 611M | second quarter 2026 | — |
| Food & Industrial Ingredients–LATAM segment operating income | 118M | second quarter 2026 | — |
| Food & Industrial Ingredients–U.S./CAN net sales | 488M | second quarter 2026 | — |
| Food & Industrial Ingredients–U.S./CAN segment operating income | 58M | second quarter 2026 | — |
| Net capital expenditures | 210M | year-to-date through June 30, 2026 | — |
| Non-GAAP adjusted net income attributable to Ingredion non-GAAP | $330M | Six Months Ended June 30, 2026 | — |
| Texture & Healthful Solutions net sales | 627M | second quarter 2026 | — |
| Texture & Healthful Solutions segment operating income | 117M | second quarter 2026 | — |
| Total debt | 1.8B | June 30, 2026 | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
Packaged Foods — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
INGR
this stock
Ingredion Inc
|
$5.86B | -14.6% | -2.8% | 10.7 | 7.3% |
|
JBS
Jbs N.V.
|
$40.00B | -15.7% | — | — | 1.3% |
|
KHC
Kraft Heinz Co
|
$29.73B | +3.5% | -0.1% | — | 8.7% |
|
GIS
General Mills Inc
|
$18.35B | -26.2% | +4.1% | — | 7.0% |
|
SJM
J M SMUCKER Co
|
$14.17B | +35.7% | +3.7% | — | 2.9% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every section- Filed
- Nov 6, 2026
- This year
- 27
Ingredion's year-to-date 2026 net income fell to $398 million from $564 million as higher costs and a Bedford Park thermal event pressured results. The pending all-cash Tate & Lyle acquisition values its equity at approximately £2.7 billion, or approximately $3.5 billion.
ViewPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| INGR | +2.6% | -3.9% | -8.9% | -2.9% | -14.6% |
| SPY | +2.6% | -1.2% | +0.5% | -0.2% | +10.6% |
| vs SPY | +0.1% | -2.7% | -9.4% | -2.7% | -25.2% |
Capital returns
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.