Companies /Consumer Defensive
Ingredion Inc
NYSE: INGR Packaged Foods
$91.72
▼ $5.70 (−5.85%) today
Markets closed · 6:31pm ET

Ingredion (INGR) Q3 2026 Earnings

Reported Nov 5, 2026, 6:12am ET · SEC source
$2.28
Miss −12.18%
EPS · est. $2.60 Adjusted

GAAP diluted EPS of $2.23. Adjusted EPS excludes $0.09 acquisition/integration costs (Tate & Lyle), $0.08 impairment charges, a $(0.18) net restructuring benefit (primarily the gain on the sale of land in Lane Cove, Australia), $0.09 other matters (primarily the Argo thermal event), a $0.05 Mexico tax item and $(0.08) other tax matters.

$1.8B
Miss −0.46%
Revenue · est. $1.8B
1 quarter
Consecutive EPS misses

How Did INGR Stock React to Q3 2026 Earnings?

% change · around the report
−4%0+4%+8%Nov 5Nov 6report 6:12am ETearnings−3.7%−1.6%
−4%0+4%+8%Nov 5Nov 6earnings−3.7%−1.6%
INGR −1.6%S&P 500 −3.7%
−5%0+5%Nov 5Nov 6report 6:12am ETearnings−4.2%−1.6%
−5%0+5%Nov 5Nov 6earnings−4.2%−1.6%
INGR −1.6%NASDAQ −4.2%
−5%0+5%+10%Nov 4Nov 6report 6:12am ETearnings−4.2%−0.3%
−5%0+5%+10%Nov 4Nov 6earnings−4.2%−0.3%
INGR −0.3%S&P 500 −4.2%
−5%0+5%+10%Nov 4Nov 6report 6:12am ETearnings−4.6%−0.3%
−5%0+5%+10%Nov 4Nov 6earnings−4.6%−0.3%
INGR −0.3%NASDAQ −4.6%
+0.06%
Day of report
−5.85%
Next session

Did INGR Beat Earnings? Q3 2026 Results

No. Ingredion reported Q3 2026 earnings of $2.28 a share on Nov 5, 2026, missing the $2.60 consensus estimate by 12.2%. Revenue was $1.8B against a $1.8B estimate.

Ingredion delivered a disappointing third quarter of 2026, posting adjusted EPS of $2.28 against a consensus estimate of $2.60, a miss of 12.18%, while revenue slipped 1.3% year over year to $1.79 billion, narrowly trailing the $1.80 billion Wall Street had expected. The central culprit was the ongoing, slower-than-expected recovery at the Argo facility in the Food and Industrial Ingredients U.S./CAN segment, where stable production masked persistently high manufacturing costs and softer food and beverage demand, pushing segment operating income down 36% to $52 million. Pressure was compounded across the portfolio, with the Texture and Healthful Solutions segment seeing operating income drop 10% to $95 million on rising tapioca costs, while LATAM results were squeezed by transactional currency effects and earthquake-related disruptions in Colombia. With shares already trading near 52-week lows, the company further weighed on sentiment by cutting its full-year adjusted EPS outlook to $9.25 to $9.70 and guiding adjusted operating income down mid-teens, though management framed the pending Tate and Lyle acquisition as a catalyst for growth in 2027 and beyond.

Key Takeaways
  • Texture & Healthful Solutions net sales volume grew for a 10th consecutive quarter, driven by global clean-label demand
  • Higher manufacturing expenses at the Argo facility cut F&II–U.S./CAN operating income by 36%
  • Higher tapioca costs and manufacturing input inflation weighed on T&HS profit
  • Stronger Mexican peso and the August earthquake in Colombia hurt F&II–LATAM profit
  • Higher brewing and beverage volumes in Mexico and Brazil lifted LATAM sales
  • Sale of the majority stake in the Pakistan business reduced net sales by $65 million
  • Margin was a $(0.72) drag on adjusted EPS; fewer shares outstanding added $0.06
  • Net restructuring benefit from the sale of land in Lane Cove, Australia

“Our third quarter results fell short of our expectations, largely due to Argo's slower than anticipated financial recovery, with incremental pressure from higher input costs and consumer softness.”

Ingredion CEO, on the earnings call

What Is Ingredion's Outlook?

Ingredion lowered its full-year 2026 outlook: - **EPS:** Reported diluted EPS of $8.04–$8.49 and adjusted diluted EPS of $9.25–$9.70. - **Net sales:** Expected to be flat, as volume growth and favorable FX are offset by lower price mix and the Pakistan divestiture. Excluding Pakistan, flat to up low single digits. - **Operating income:** Reported operating income down low double digits; adjusted operating income down mid-teens. - **Segments:** - Texture & Healthful Solutions operating income flat to up low single digits. - F&II–LATAM down mid-to-high single digits on continued Mexican peso strength. - F&II–U.S./CAN down 35–40% on Argo operating costs. - All Other operating loss of approximately $(15) million. - **Corporate costs:** Down mid-single digits. - **Tax rate:** Reported effective tax rate of 27.9%–28.9%; adjusted effective tax rate of 26.5%–27.5%. - **Cash flow:** Cash from operations of $650–$750 million; capex of approximately $450–$490 million. - **Basis:** Guidance reflects tariff levels as of the end of October 2026. It excludes acquisition-related integration and restructuring costs and any potential impairments.

INGR YoY Financials

Q3 2026 vs Q3 2025 · SEC filings Q3 2025 Q3 2026
$0$500.0M$1.0B$1.5B$1.8B$1.8BRevenue$455.0M$399.0MGross Profit$252.0M$201.0MOperating Income$171.0M$142.0MNet Income
$0$500.0M$1.0B$1.5BRevenueGross ProfitOperating IncomeNet Income
INGR income statement, Q3 2026 versus Q3 2025
Metric Q3 2026 Q3 2025 Year over year
Revenue $1.8B $1.8B −1.3%
Gross Profit $399.0M $455.0M −12.3%
Operating Income $201.0M $252.0M −20.2%
Net Income $142.0M $171.0M −17.0%

INGR Revenue by Segment

Texture & Healthful Solutions$610.0M+1.0%
Food & Industrial Ingredients–LATAM$624.0M+7.0%
Food & Industrial Ingredients - LATAM
Food & Industrial Ingredients - U.S./Canada
Food & Industrial Ingredients–U.S./Canada$504.0M−1.0%
All Other$54.0M−55.0%

When Does Ingredion Report Next?

Expected report date
After the close
Release timing

Figures from SEC filings and company reports. Not investment advice.