Ingredion (NYSE:INGR) Posts Earnings Results, Misses Estimates By $0.10 EPS

Key Points

• Ingredion missed Q1 expectations with EPS of $2.34 versus a $2.44 consensus while revenue was roughly flat at $1.79 billion, and it trimmed FY2026 adjusted EPS guidance to $10.45–$11.15.
• Operational issues weighed on results—an Argo facility thermal event and related rework/maintenance caused a roughly $40 million hit in Q1 and the company also announced the shutdown of its Cabo, Brazil plant, with LatAm headwinds from a strong peso and softer volumes reflected in guidance.
• Balance sheet and shareholder returns remain priorities: Ingredion expects 2026 cash from operations of $725–$825M, disciplined CapEx ($400–$440M), ongoing dividends and buybacks, while the stock trades at a low P/E (~9.4) and yields about 3.1%.

Ingredion (NYSE:INGR - Get Free Report) announced its earnings results on Tuesday. The company reported $2.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.44 by ($0.10), FiscalAI reports. Ingredion had a net margin of 10.10% and a return on equity of 17.32%. The business had revenue of $1.79 billion for the quarter, compared to analysts' expectations of $1.79 billion. During the same quarter last year, the business earned $2.97 EPS. The company's quarterly revenue was down 1.2% on a year-over-year basis. Ingredion updated its FY 2026 guidance to 10.450-11.150 EPS.

Here are the key takeaways from Ingredion's conference call:

• Operational problems at the Argo facility drove a $40 million hit in Q1 (higher maintenance, rework and logistics), a thermal event on April 10 disrupted germ processing and management expects that unit to be back to normal in Q2.
• Texture and Healthful Solutions remains a bright spot with its eighth straight quarter of volume growth, a ~$1B solutions portfolio (40% of the segment) driving higher-value sales and strong category growth (pea protein isolates +50%, stevia +6%).
• Company updated 2026 guidance downward: net sales now expected flat to up low single digits, adjusted operating income flat to down low single digits, and adjusted EPS narrowed to $10.45–$11.15, with Q2 adj. operating income expected down high single digits.
• LatAm pressures persist from a strong Mexican peso (transactional FX headwind), softer volumes in parts of the region, and the announced shutdown of the Cabo plant in Northeast Brazil (cease operations by end of Q2), which is included in current guidance.
• Balance sheet and capital allocation remain solid: expected 2026 cash from operations of $725–$825M, disciplined CapEx ($400–$440M), ongoing dividends and share repurchases, and retained M&A optionality to fund strategic growth.

Ingredion Price Performance

NYSE INGR traded down $1.03 during mid-day trading on Tuesday, hitting $105.85. The stock had a trading volume of 978,246 shares, compared to its average volume of 641,579. The firm's 50 day moving average is $113.29 and its 200 day moving average is $113.17. Ingredion has a twelve month low of $100.71 and a twelve month high of $141.78. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.66 and a quick ratio of 1.73. The stock has a market capitalization of $6.67 billion, a price-to-earnings ratio of 9.48, a PEG ratio of 0.88 and a beta of 0.64.

Ingredion Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 21st. Investors of record on Wednesday, April 1st were paid a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Wednesday, April 1st. Ingredion's dividend payout ratio is currently 29.39%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. BMO Capital Markets reiterated a "market perform" rating on shares of Ingredion in a research report on Wednesday, February 4th. Jefferies Financial Group reiterated a "hold" rating on shares of Ingredion in a research report on Wednesday, February 4th. Oppenheimer decreased their target price on Ingredion from $130.00 to $126.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 22nd. Weiss Ratings reiterated a "hold (c)" rating on shares of Ingredion in a research report on Friday, March 27th. Finally, Benchmark assumed coverage on Ingredion in a research report on Tuesday, March 17th. They set a "buy" rating and a $130.00 target price on the stock. Two analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, Ingredion currently has an average rating of "Hold" and a consensus price target of $124.71.

Key Ingredion News

Here are the key news stories impacting Ingredion this week:

• Positive Sentiment: Valuation may attract value buyers — Ingredion trades at a low P/E (~9.4) and below recent 50/200-day levels, which could support interest from income/value investors.
• Neutral Sentiment: Company released its Q1 earnings materials and conference-call resources (transcript, slide deck) for investors to review for more detail. Listen to Conference Call
• Neutral Sentiment: Several previews and analyst notes were published ahead of the print that set expectations and context for the quarter. Earnings Preview
• Negative Sentiment: Q1 EPS missed estimates — reported $2.34 vs. consensus ~$2.44 and well below prior-year EPS of $2.97; this disappointed investors and is a primary driver of the share decline. Ingredion (INGR) Lags Q1 Earnings Estimates
• Negative Sentiment: FY2026 guidance trimmed and below Street expectations — company set adjusted EPS guidance of $10.45–$11.15 (company mid/center below the ~11.34 consensus), reducing near-term earnings visibility. Q1 Results & Guidance
• Negative Sentiment: Brazil plant closure and impairment charges — Ingredion will cease operations at its Cabo, Brazil facility and take related impairment charges, a near-term hit to earnings and a sign of restructuring costs. Brazil Plant Closure
• Negative Sentiment: Operating profitability declined — reported and adjusted operating income fell about 22–26% year-over-year, and revenue was slightly down (~1.2%), signaling margin pressure. Q1 Results & Operating Trends

Insider Activity at Ingredion

In related news, VP Davida Marie Gable sold 375 shares of the stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $112.44, for a total value of $42,165.00. Following the completion of the transaction, the vice president directly owned 7,110 shares of the company's stock, valued at approximately $799,448.40. This represents a 5.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James P. Zallie sold 33,597 shares of the stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $119.66, for a total value of $4,020,217.02. Following the completion of the transaction, the chief executive officer directly owned 50,167 shares of the company's stock, valued at approximately $6,002,983.22. This represents a 40.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 48,686 shares of company stock valued at $5,784,010. 1.60% of the stock is owned by insiders.

Institutional Trading of Ingredion

A number of hedge funds and other institutional investors have recently modified their holdings of INGR. First Trust Advisors LP increased its stake in shares of Ingredion by 90.9% in the 4th quarter. First Trust Advisors LP now owns 1,994,825 shares of the company's stock worth $219,949,000 after acquiring an additional 950,006 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Ingredion by 143.1% in the 3rd quarter. AQR Capital Management LLC now owns 1,191,118 shares of the company's stock worth $144,685,000 after acquiring an additional 701,063 shares during the last quarter. Voloridge Investment Management LLC increased its stake in shares of Ingredion by 108.1% in the 4th quarter. Voloridge Investment Management LLC now owns 413,375 shares of the company's stock worth $45,579,000 after acquiring an additional 214,716 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Ingredion by 6.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,939,536 shares of the company's stock worth $324,118,000 after acquiring an additional 177,134 shares during the last quarter. Finally, Corient Private Wealth LLC increased its stake in shares of Ingredion by 612.5% in the 4th quarter. Corient Private Wealth LLC now owns 199,244 shares of the company's stock worth $21,969,000 after acquiring an additional 171,281 shares during the last quarter. 85.27% of the stock is owned by institutional investors and hedge funds.

Ingredion Company Profile

Ingredion Incorporated is a global ingredient solutions company specializing in the production and sale of starches, sweeteners, nutrition ingredients and biomaterials derived primarily from corn and other plant-based raw materials. The company serves a diverse set of industries, including food and beverage, brewing, pharmaceuticals and personal care, providing functional ingredients that enhance texture, stability, flavor and nutritional value in a wide array of end products.

The company's product portfolio comprises native and modified starches, high-fructose corn syrup, dextrose, maltodextrins, specialty sweeteners and various texturizers.

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