Ingredion Incorporated reported its financial results for the first quarter of 2026, revealing a decrease in net income attributable to the company, which fell to $142 million, down from $197 million in the same period last year. This decline in profitability was accompanied by a 1% decrease in net sales, which totaled $1.792 billion compared to $1.813 billion in the first quarter of 2025. The company's operating income also saw a significant drop of 26%, falling to $203 million from $276 million, primarily due to lower gross profit and increased operating expenses.
The cost of sales increased by 3% to $1.391 billion, driven by higher operating costs in the Food & Industrial Ingredients (F&II) segment in the U.S. and Canada. Gross profit decreased by 14% to $401 million, resulting in a gross profit margin decline to 22% from 26% in the prior year. Operating expenses rose by 4% to $200 million, attributed mainly to increased employee costs. The company also incurred restructuring and impairment charges of $11 million, up from $7 million in the previous year, reflecting ongoing legal entity restructuring efforts.
In terms of strategic developments, Ingredion completed the acquisition of the remaining shares of PureCircle Limited, increasing its ownership to 100%. The company also continues to navigate the divestiture of its Pakistan business, which is pending regulatory approvals. Operationally, Ingredion's Texture & Healthful Solutions segment reported a 2% increase in net sales to $617 million, while the F&II–U.S./Canada segment experienced a 9% decline in net sales to $475 million, primarily due to lower volumes and unfavorable pricing mix.
Looking ahead, Ingredion maintains a strong liquidity position with total available liquidity of $3.8 billion as of March 31, 2026. The company expects to fund its anticipated capital expenditures, dividends, and other operational activities through its cash flow and borrowing capacity. However, it acknowledges that future cash flow needs will depend on various factors, including revenue growth, raw material costs, and market conditions. The company anticipates capital investment commitments between $400 million and $440 million for the remainder of 2026, indicating a focus on updating and expanding its facilities.
About Ingredion Inc
Ingredion Incorporated is a global provider of ingredient solutions derived from grains, fruits, and vegetables, primarily starches and sweeteners, for the food, beverage, animal nutrition, brewing, and industrial markets. Its core offerings include modified and native starches, clean-label texturizers, sweeteners, pulse-based proteins, and co-products. The company serves diverse industries worldwide, leveraging innovation, a broad manufacturing footprint, and strategic partnerships to deliver functional, healthful, and sustainable ingredients.
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