Ingredion (INGR) Q1 2026 Earnings
How Did INGR Stock React to Q1 2026 Earnings?
S&P 500 over the same 30 days: +1.90%.
Did INGR Beat Earnings? Q1 2026 Results
No. Ingredion reported Q1 2026 earnings of $2.34 a share on May 5, 2026, missing the $2.47 consensus estimate by 5.3%. Revenue was $1.8B against a $1.8B estimate.
Ingredion delivered a disappointing first quarter of 2026, with earnings missing expectations as operational troubles weighed heavily on results. Adjusted diluted EPS came in at $2.34, falling 5.32% short of the $2.47 consensus estimate and down sharply from $2.97 a year ago, while revenue of $1.79 billion was essentially in line with forecasts despite slipping 1.2% year over year. The primary culprit was a longer-than-expected recovery from production challenges at the company's Argo manufacturing facility, which drove a 63% year-over-year collapse in U.S./CAN segment operating income to $34.00 million and pushed total adjusted operating income down 22% to $212.00 million. The Texture and Healthful Solutions segment offered some relief, posting its eighth consecutive quarter of broad-based volume growth with revenue rising 2% to $617.00 million. With the Argo disruption still casting a shadow, Ingredion lowered its full-year 2026 adjusted EPS guidance to a range of $10.45 to $11.15, and the stock recently touched a 52-week low near $99.97, reflecting investor concern over the company's near-term trajectory.
- Operational challenges at Argo facility drove significant decline in F&II–U.S./CAN segment operating income
- Texture & Healthful Solutions delivered eighth consecutive quarter of volume growth driven by clean label ingredient demand
- Mexican peso transactional currency headwinds weighed on F&II–LATAM operating income
- Lower volumes and less favorable mix in F&II–U.S./CAN reduced total company net sales
- Favorable foreign exchange translation partially offset net sales declines
- Improved plant-based protein business performance in All Other segment
“While we expected a challenging first quarter after last year's strong first quarter, results were weaker than anticipated in Food & Industrial Ingredients–U.S./CAN due to operational challenges at our Argo facility. At the same time, performance in our Texture & Healthful Solutions and Food & Industrial Ingredients–LATAM segments were in line with our expectations despite an increasingly uncertain macroeconomic environment.”
Ingredion CEO, on the earnings call
What Was Ingredion's Outlook in Q1 2026?
Ingredion lowered its full-year 2026 guidance. Reported EPS is now expected in the range of $9.60 to $10.30, and adjusted EPS in the range of $10.45 to $11.15. Full-year net sales are expected flat to up low single-digits, with adjusted operating income flat to down low single-digits. By segment: T&HS operating income is expected up low single-digits; F&II–LATAM operating income is expected down low single-digits due to Mexican peso strength; F&II–U.S./CAN operating income is expected down low double-digits due to Argo headwinds; All Other operating income expected to improve $5–$10 million. Cash from operations is expected at $725–$825 million with capex of $400–$440 million. For Q2 2026, net sales are expected flat to up low single-digits, with adjusted operating income down high single-digits year-over-year. Guidance reflects tariff levels in effect as of end-April 2026.
INGR YoY Financials
| Metric | Q1 2026 | Q1 2025 | Year over year |
|---|---|---|---|
| Revenue | $1.8B | $1.8B | −1.2% |
| Gross Profit | $401.0M | $466.0M | −14.0% |
| Operating Income | $203.0M | $276.0M | −26.5% |
| Net Income | $142.0M | $197.0M | −27.9% |
INGR Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.