Ingredion Inc (INGR) Earnings History

Ingredion Inc - Q4 FY2025 Earnings

Filed at: Feb 3, 2026, 6:09 AM EST|Read from source

EXECUTIVE SUMMARY

Ingredion reported record full-year financial results driven by strong performance in Texture & Healthful Solutions and LATAM, partially offset by operational challenges in the U.S./Canada segment. The company anticipates continued momentum in 2026, with expected growth in net sales and operating income.

POSITIVE HIGHLIGHTS

  • •

    Full-year 2025 reported EPS of $11.18, an increase from $9.71 in full-year 2024.

    positive
  • •

    Texture & Healthful Solutions segment delivered strong performance with 4% sales volume growth in Q4 2025.

    positive
  • •

    Food & Industrial Ingredients–LATAM segment regained momentum in Q4 2025, with full-year operating income growth.

    positive
  • •

    Specialty starch modernization upgrades at Indianapolis facility came online, enhancing reliability and capacity.

    positive

CONCERNS & RISKS

  • •

    Full-year 2025 net sales decreased 3% to $7.219 billion from $7.430 billion in full-year 2024, driven by lower volume from F&II segments and price mix.

    negative
  • •

    Food & Industrial Ingredients–U.S./Canada segment experienced a 32% decrease in operating income in Q4 2025 and a 16% decrease for the full year, primarily due to production challenges and weaker sweetener demand.

    negative
  • •

    Cash from operations for full-year 2025 was $944 million, down from $1,436 million in full-year 2024, reflecting investment in working capital.

    attention
  • •

    Net capital expenditures for full-year 2025 were $433 million, up $138 million from full-year 2024.

    attention

FINANCIAL METRICS

Revenue
Quarterly
$1.76B
-2.4%
Prior year: $1.80B
Annual (YTD)
$7.22B
N/A
Prior year: $7.43B
Net Income
Quarterly
$165.00M
+73.7%
Prior year: $95.00M
Annual (YTD)
$729.00M
N/A
Prior year: $647.00M
EPS (Diluted)
Quarterly
$2.56
+79.0%
Prior year: $1.43
Annual (YTD)
$11.18
N/A
Prior year: $9.71
Operating Income
Quarterly
$220.00M
+35.8%
Prior year: $162.00M
Annual (YTD)
$1.02B
N/A
Prior year: $883.00M
EPS (Basic)
Quarterly
$2.59
+77.4%
Prior year: $1.46
Annual (YTD)
$11.36
N/A
Prior year: $9.88

MARGIN ANALYSIS

Gross Margin
Current Quarter
24.5%
Prior Year
24.9%
YoY Change
-47 bps
Operating Margin
Current Quarter
12.5%
Prior Year
9.0%
YoY Change
+353 bps
Net Margin
Current Quarter
9.4%
Prior Year
5.3%
YoY Change
+411 bps

Margin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.

REVENUE BY SEGMENT — Q4 FY2025 2025

VISUAL OVERVIEW

|
Texture & Healthful Solutions
0.0%
N/A
Food & Industrial Ingredients–LATAM
0.0%
N/A
Food & Industrial Ingredients–U.S./Canada
0.0%
N/A
All Other
0.0%
N/A

DETAILED BREAKDOWN

|
SegmentCurrentPrior YrYoY% Total
Texture & Healthful Solutions
N/A———
Food & Industrial Ingredients–LATAM
N/A———
Food & Industrial Ingredients–U.S./Canada
N/A———
All Other
N/A———
Total Revenue$0.00M——100.0%

Segment performance shows business unit health and growth drivers.

MANAGEMENT GUIDANCE

FY2026

EPS
$11.00—$11.80
Mid-point: $11.40
"Expected to be in the range of $11.00 to $11.80 for both reported and adjusted EPS."
Revenue
"Expected to be up low single-digits to mid-single-digits."
Operating Income
"Expected to be up low single-digits for both reported and adjusted operating income."
Effective Tax Rate
25.5%—27.0%
Mid-point: 26.3%
"Expected to be between 25.5% and 27.0% for both reported and adjusted rates."
Cash from operations
820,000,000—940,000,000
Mid-point: 880,000,000
"Expected to be in the range of $820 million to $940 million."
Capital expenditures
400,000,000—440,000,000
Mid-point: 420,000,000
"Expected to be approximately $400 million to $440 million."

Q1 2026

Net Sales
"Expected to be down low single-digits compared to the same quarter last year."
Operating Income
"Expected to be down mid-double digits."

Forward-looking guidance is subject to change and does not constitute a guarantee. Actual results may differ materially from these estimates.

SPECIAL ITEMS & ADJUSTMENTS

Q4 2025
Restructuring and resegmentation costs
Primarily related to decommissioning costs for previously announced plant closures and restructuring activities.
+$6M
$0.08 per share
FY2025
Restructuring and resegmentation costs
Primarily related to decommissioning costs for previously announced plant closures and restructuring activities.
+$13M
$0.17 per share
Q4 2025
Impairment charges
On equity investments and equipment due to restructuring activities.
+$2M
$0.05 per share
FY2025
Impairment charges
On equity investments and equipment due to restructuring activities.
+$8M
$0.11 per share
FY2025
Other matters
Primarily related to insurance recoveries and a favorable judgment related to certain indirect taxes.
$7M
$0.11 per share
Q4 2024
Restructuring and resegmentation costs
Primarily related to restructuring activities and resegmentation of the business.
+$6M
$0.06 per share
FY2024
Restructuring and resegmentation costs
Primarily related to restructuring activities and resegmentation of the business.
+$18M
$0.20 per share
FY2024
Net gain on sale of business
On the sale of the business in South Korea.
$90M
$1.29 per share
Q4 2024
Impairment charges
Primarily related to cessation of operations at Vanscoy, Canada and Alcantara, Brazil manufacturing facilities.
+$83M
$1.20 per share
FY2024
Impairment charges
Includes charges related to cessation of manufacturing operations in the UK and equity method investments.
+$109M
$1.63 per share
FY2024
Other matters
Tornado damage incurred at a U.S. warehouse.
+$6M
$0.07 per share
Q4 2025
Tax item - Mexico
Result of movement of Mexican peso against U.S. dollar.
$4M
$0.07 per share
FY2025
Tax item - Mexico
Result of movement of Mexican peso against U.S. dollar.
$14M
$0.22 per share
Q4 2025
Other tax matters
Change in accrual related to permanent reinvestment status of a foreign affiliate, tax impacts of non-GAAP adjustments, etc.
$6M
$0.09 per share
FY2025
Other tax matters
Change in permanent reinvestment status of a foreign affiliate, U.S. state deferred tax remeasurement, etc.
+$0M
$0.00 per share
Q4 2024
Other tax matters
Benefit from recapture of U.S. tax benefits, interest on Brazilian local incentives, etc.
$8M
$0.12 per share
FY2024
Other tax matters
Benefit from ability to realize future tax losses in Canada, reversal of prior year tax contingencies, etc.
+$4M
$0.06 per share
Total Impact
+$126M$1.73 per share

Special items are non-recurring events that may distort period-over-period comparisons. Analysts typically adjust for these when calculating normalized earnings.

MANAGEMENT COMMENTARY

Record full-year financial results driven by continued strength in Texture & Healthful Solutions and solid results from Food & Industrial Ingredients–LATAM.

— Ingredion Inc, Q4 FY2025 2025 Earnings Call

Texture & Healthful Solutions delivered a solid quarterly performance with 4% sales volume growth, driven by strong demand for clean label offerings and expanding solutions portfolio.

— Ingredion Inc, Q4 FY2025 2025 Earnings Call

Food & Industrial Ingredients–LATAM segment regained momentum in the fourth quarter, delivering operating income growth for the full year as market conditions improved.

— Ingredion Inc, Q4 FY2025 2025 Earnings Call

Commentary excerpts from earnings call transcripts provide management's perspective on performance, strategy, and outlook. Always review full transcripts for complete context.

OPERATIONAL METRICS

Inventories
1227.0M
+3.4% YoY
Prior year: 1187.0M
dollars

Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.