Companies /Consumer Defensive

Ingredion Inc

NYSE: INGR Packaged Foods
$101.26
▼ $0.42 (−0.41%) today
Markets closed · 2:26am ET

Q4 2025 Earnings

Reported Feb 3, 2026, 6:09am ET · SEC source
$2.53
Miss −3.07%
EPS · est. $2.61
$1.8B
Miss −1.57%
Revenue · est. $1.8B
−2.1%
Trailing market
INGR vs S&P since report
1 quarter
Consecutive EPS beats

Market Reaction

% change · around the report
0+3%+6%Feb 3Feb 4report 6:09am ETearnings−1.4%+5.3%
0+3%+6%Feb 3Feb 4earnings−1.4%+5.3%
INGR +5.3%S&P 500 −1.4%
−4%0+4%+8%Feb 3Feb 4report 6:09am ETearnings−3.5%+5.3%
−4%0+4%+8%Feb 3Feb 4earnings−3.5%+5.3%
INGR +5.3%NASDAQ −3.5%
−3%0+3%Feb 2Feb 10report 6:09am ETearnings−0.4%+2.3%
−3%0+3%Feb 2Feb 10earnings−0.4%+2.3%
INGR +2.3%S&P 500 −0.4%
−4%0+4%Feb 2Feb 10report 6:09am ETearnings−2.3%+2.3%
−4%0+4%Feb 2Feb 10earnings−2.3%+2.3%
INGR +2.3%NASDAQ −2.3%
+2.64%
Day of report
−0.37%
Next session
−1.40%
One week
−4.63%
30 days

S&P 500 over the same 30 days: −2.49%.

Did INGR Beat Earnings? Q4 2025 Results

Ingredion closed out fiscal 2025 on a soft note, delivering a Q4 adjusted diluted EPS of $2.53, missing the $2.61 consensus estimate by 3.07%, while revenue of $1.76 billion fell 1.57% short of expectations and slipped 2.4% from a year ago. The most material drag was the company's U.S./Canada segment, where Q4 operating income plunged 32% to $56 million, hit by production challenges at a large manufacturing facility and weaker sweetener demand tied to higher retail canned beverage prices. Those headwinds overshadowed genuine momentum in Texture and Healthful Solutions, which posted 4% volume growth on clean label demand and closed the full year with operating income up 16% to $405 million. Adding to the mixed backdrop, CEO James Zallie was recently appointed board chairman while also disclosing a significant reduction in his personal stake in the company. Looking ahead, Ingredion guided fiscal 2026 adjusted EPS of $11.00 to $11.80, with net sales expected to grow low- to mid-single-digits, though management cautioned that Q1 2026 operating income could decline mid-double-digits against a tough prior-year comparison.

Key Takeaways
  • Texture & Healthful Solutions 4% Q4 volume growth driven by clean label demand
  • Lower raw material and input costs benefiting margins in T&HS and LATAM
  • Favorable Mexican peso transactional currency impacts in LATAM
  • Production challenges at a large U.S. manufacturing facility impacted F&II–U.S./CAN
  • Weaker sweetener demand driven by higher retail prices for canned beverages
  • Significantly lower Q4 reported effective tax rate (19.3% vs 36.2%) boosted reported EPS
  • Cost2Compete restructuring initiative driving cost savings

“We delivered record full-year financial results driven by continued strength in Texture & Healthful Solutions and solid results from our Food & Industrial Ingredients–LATAM business. These strong performances were partially offset by slower-than-expected operational recovery within our Food & Industrial Ingredients–U.S./CAN business.”

Ingredion CEO, on the earnings call

Forward Guidance & Outlook

For full-year 2026, Ingredion expects reported and adjusted EPS of $11.00 to $11.80. Net sales are expected up low- to mid-single-digits, reflecting greater volume demand and FX impacts, partially offset by price mix. Reported and adjusted operating income are expected up low-single-digits. Segment outlook: T&HS operating income up low- to mid-single-digits; F&II–LATAM flat to up low-single-digits; F&II–U.S./Canada flat; All Other to improve by $5–$10 million. Expected effective tax rates of 25.5%–27.0%. Cash from operations of $820–$940 million with capex of ~$400–$440 million. For Q1 2026, net sales expected down low-single-digits with operating income down mid-double-digits versus strong prior year comparison.

INGR YoY Financials

Q4 2025 vs Q4 2024 · SEC filings Q4 2024 Q4 2025
$0$500.0M$1.0B$1.5B$1.8B$1.8BRevenue$449.0M$430.0MGross Profit$162.0M$220.0MOperating Income$95.0M$165.0MNet Income
$0$500.0M$1.0B$1.5BRevenueGross ProfitOperating IncomeNet Income

INGR Revenue by Segment

Texture & Healthful Solutions$591.0M+2.0%
Food & Industrial Ingredients–LATAM$587.0M+1.0%
Food & Industrial Ingredients - LATAM
Food & Industrial Ingredients - U.S./Canada
Food & Industrial Ingredients–U.S./Canada$463.0M−9.0%
All Other$116.0M−6.0%

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