Ingredion (INGR) Q1 2026 Earnings
Reported May 5, 2026 at 6:08 AM ET · SEC Source
Q1 26 EPS
$2.34
MISS 5.32%
Est. $2.47
Q1 26 Revenue
$1.79B
BEAT +0.22%
Est. $1.79B
vs S&P Since Q1 26
-11.5%
TRAILING MARKET
INGR -9.1% vs S&P +2.4%
Market Reaction
Did INGR Beat Earnings? Q1 2026 Results
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 shar… Read more 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.
Key Takeaways
- • 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
INGR Forward Guidance & Outlook
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
Q1 2026 vs Q1 2025, source: SEC Filings
INGR Revenue by Segment
With YoY comparisons, source: SEC Filings
“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.”
— Jim Zallie, Q1 2026 Earnings Press Release
INGR Earnings Trends
INGR vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
INGR EPS Trend
Earnings per share: estimate vs actual
INGR Revenue Trend
Quarterly revenue: estimate vs actual
INGR Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 MISS | $2.47 | $2.34 | -5.32% | $1.79B | +0.22% |
| Q4 25 MISS FY | $2.61 | $2.53 | -3.07% | $1.76B | -1.57% |
| FY Full Year | — | $11.13 | — | $7.22B | — |
| Q3 25 MISS | $2.89 | $2.75 | -4.76% | $1.82B | -3.95% |
| Q2 25 BEAT | $2.79 | $2.87 | +2.99% | $1.83B | -3.01% |