Track market-moving stories before they get noisy

WESTCHESTER, Ill., Aug. 20, 2026 (GLOBE NEWSWIRE) -- Ingredion Incorporated (NYSE: INGR), a leading global provider of ingredient solutions to the food and beverage industry, today announced the appointment of Diego Reynoso as chief financial officer effective October 1, 2026. He will serve as a member of the executive leadership team and report to Jim Zallie, chairman, president and chief executive officer.

In addition to leading the finance organization, Reynoso will play a key role in advancing Ingredion's growth strategy, enterprise productivity initiatives, disciplined capital allocation and integration execution as the company continues its transformation into a leading global ingredient solutions provider.

“Diego’s experience in major integration and portfolio transformations across the food and beverage industry will be a great asset for Ingredion,” said Jim Zallie, chairman, president and CEO of Ingredion. “His focus on profitable growth and shareholder value creation will be critical as we advance our strategy and drive long-term value for shareholders.”

"Ingredion has a clear strategy, a strong culture and a tremendous opportunity to accelerate growth as the company continues its transformation journey," said Reynoso. "I am excited to join the team and enhance productivity while delivering on the opportunities ahead through disciplined execution, innovation and a continued focus on creating value for customers and shareholders."

Reynoso joins Ingredion from the Boston Beer Company where he served as chief financial officer leading finance, investor relations, IT, M&A and enterprise strategy initiatives.

Prior to the Boston Beer Company, Reynoso led financial, commercial and operational organizations at Tyson Foods, Constellation Brands, Beam Suntory, Danone and Procter & Gamble.

Reynoso holds a Bachelor’s degree in Chemical Engineering from Universidad Autonoma de Mexico, Mexico City and an Executive Masters of Business Administration from Universidad Panamericana, Mexico.

About Ingredion
Ingredion Incorporated (NYSE: INGR), headquartered in the suburbs of Chicago, is a leading global ingredient solutions provider serving customers in more than 120 countries. With 2025 annual net sales of approximately $7.2 billion, the Company turns grains, fruits, vegetables, and other plant-based materials into value-added ingredient solutions for the food, beverage, animal nutrition, brewing and industrial markets. With Ingredion Idea Labs® innovation centers located around the world and more than 11,000 employees, the Company cocreates with customers and fulfills its purpose of bringing the potential of people, nature, and technology together to make life better. Visit ingredion.com for more information and the latest Company news.

CONTACTS:
Investors: Noah Weiss, 773-896-5242
Media: Rick Wion, 708-209-6323

Posted by Defense World Staff on Aug 5th, 2026

Amundi grew its holdings in shares of Ingredion Incorporated (NYSE:INGR – Free Report) by 19.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 142,282 shares of the company’s stock after acquiring an additional 23,122 shares during the quarter. Amundi owned about 0.23% of Ingredion worth $16,029,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Fifth Third Wealth Advisors LLC grew its position in Ingredion by 4.1% in the first quarter. Fifth Third Wealth Advisors LLC now owns 2,221 shares of the company’s stock worth $250,000 after acquiring an additional 88 shares in the last quarter. Vista Investment Management lifted its stake in Ingredion by 0.8% during the second quarter. Vista Investment Management now owns 10,789 shares of the company’s stock worth $1,463,000 after purchasing an additional 89 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Ingredion by 0.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 25,293 shares of the company’s stock worth $2,789,000 after purchasing an additional 91 shares during the last quarter. Teza Capital Management LLC boosted its holdings in shares of Ingredion by 4.2% in the 2nd quarter. Teza Capital Management LLC now owns 2,275 shares of the company’s stock worth $309,000 after purchasing an additional 92 shares in the last quarter. Finally, Murphy Pohlad Asset Management LLC increased its position in shares of Ingredion by 1.2% during the 4th quarter. Murphy Pohlad Asset Management LLC now owns 8,340 shares of the company’s stock valued at $920,000 after purchasing an additional 95 shares during the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Ingredion News Summary Here are the key news stories impacting Ingredion this week:

Positive Sentiment: Ingredion reported second-quarter adjusted EPS of $2.82, above the $2.71–$2.73 consensus range, while revenue of $1.85 billion also topped estimates and rose about 1% year over year. The earnings and sales beats likely helped drive the stock higher. Ingredion Q2 Earnings and Revenues Beat Estimates Positive Sentiment: The company said shareholders accepted Ingredion’s 595 pence all-cash offer for Tate & Lyle. Management expects the transaction to generate approximately $130 million in annual run-rate synergies by 2030, potentially strengthening Ingredion’s specialty ingredients platform and long-term growth profile. Ingredion Anticipates 2026 Adjusted EPS While Progressing Tate and Lyle Deal Positive Sentiment: Texture & Healthful Solutions sales grew 5% to $627 million. Ingredion also highlighted an AI-based texture-development tool and continued demand for better-for-you food products, reinforcing the growth potential of its higher-value specialty business. Ingredion Launches AI Tool and Targets Texture Neutral Sentiment: Ingredion reaffirmed 2026 adjusted EPS guidance of $10.30 to $10.90 and reported EPS guidance of $9.15 to $9.75. The adjusted range remains broadly consistent with expectations, but its midpoint is below the consensus estimate of $10.83. Negative Sentiment: Underlying profitability weakened: reported EPS fell to $1.78 from $2.99, adjusted operating income declined 5%, and reported operating income dropped 31%. Food & Industrial Ingredients U.S./Canada sales fell 7% to $488 million. The Tate & Lyle transaction also carries financing, regulatory and integration risks. Ingredion Reports Second Quarter 2026 Results Analyst Upgrades and Downgrades Several equities analysts recently commented on INGR shares. UBS Group reaffirmed a “neutral” rating and set a $114.00 target price on shares of Ingredion in a report on Thursday, May 7th. Weiss Ratings lowered shares of Ingredion from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, July 8th. Benchmark reaffirmed a “buy” rating on shares of Ingredion in a research note on Tuesday, June 9th. Zacks Research upgraded Ingredion from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 14th. Finally, Oppenheimer lowered Ingredion from an “outperform” rating to a “market perform” rating in a research note on Monday, June 8th. One research analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $122.43.

Check Out Our Latest Stock Analysis on INGR

Ingredion Price Performance INGR opened at $104.79 on Wednesday. The stock’s 50 day moving average price is $99.95 and its 200-day moving average price is $108.31. Ingredion Incorporated has a 52-week low of $94.44 and a 52-week high of $130.48. The stock has a market capitalization of $6.61 billion, a PE ratio of 10.10, a price-to-earnings-growth ratio of 0.84 and a beta of 0.62. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.83 and a current ratio of 2.76.

Ingredion (NYSE:INGR – Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.71 by $0.11. Ingredion had a net margin of 9.36% and a return on equity of 15.86%. The company had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.83 billion. During the same quarter in the previous year, the company earned $2.87 earnings per share. Ingredion’s quarterly revenue was up .9% on a year-over-year basis. Ingredion has set its FY 2026 guidance at 10.300-10.900 EPS. On average, equities research analysts predict that Ingredion Incorporated will post 10.81 EPS for the current year.

Ingredion Announces Dividend The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 21st. Shareholders of record on Wednesday, July 1st were paid a dividend of $0.82 per share. The ex-dividend date was Wednesday, July 1st. This represents a $3.28 dividend on an annualized basis and a yield of 3.1%. Ingredion’s payout ratio is presently 31.60%.

Ingredion Profile (Free Report)

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.

Further Reading Five stocks we like better than Ingredion System Upgrade: First Internet Bancorp Options Surge AI Security Breaches Raise New Risks for Microsoft and Amazon’s Agent Push The AI Chip Blockade Is Creating a Shadow Market Grab Holdings Stock Forms Bottom After Strong Beat-and-Raise Quarter Want to see what other hedge funds are holding INGR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ingredion Incorporated (NYSE:INGR – Free Report).

Receive News & Ratings for Ingredion Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ingredion and related companies with MarketBeat.com's FREE daily email newsletter.

« PREVIOUS HEADLINEJazz Pharmaceuticals Q2 Earnings Call Highlights

NEXT HEADLINE »Construction Stocks To Keep An Eye On – August 3rd

Ingredion (NYSE:INGR) reported second-quarter 2026 results that were in line with its expectations, as continued growth in Texture & Healthful Solutions offset operational and macroeconomic pressures in other parts of the portfolio.

Second-quarter net sales increased 1% year over year to $1.85 billion. Reported operating income was $188 million, while adjusted operating income declined 5% to $258 million. The company said results were affected by manufacturing issues at its Argo facility, softer demand in Food & Industrial Ingredients—U.S./CAN, and foreign-exchange and macroeconomic headwinds in Mexico.

Adjusted diluted earnings per share declined $0.05 from the prior year. Ingredion said margin impacts reduced earnings by $0.34 per share, partly offset by favorable foreign exchange, other income, share repurchases and lower financing costs.

Texture & Healthful Solutions Extends Growth Streak Texture & Healthful Solutions remained the company’s primary growth driver. Segment net sales rose 5%, supported by 7% volume growth and favorable foreign exchange, while operating income also increased 5%. The segment recorded its second-highest quarterly operating income ever, according to the company.

Chairman, President and CEO Jim Zallie said the quarter marked the segment’s ninth consecutive quarter of net-sales volume growth. Growth was broad-based across solutions offerings and clean-label ingredients, with customer activity centered on health and wellness reformulation, protein and fiber fortification, sugar reduction and clean-label products.

Ingredion said higher tapioca costs remained a near-term headwind. Root prices have increased more than 40% since the start of the year because weather-related conditions have constrained supply. The company is passing through price increases, although it said the process generally requires about one to one-and-a-half quarters.

Jason Payant, Ingredion’s vice president and interim CFO, said the company does not view the tapioca cost increase as a structural margin issue. He said the company expects costs to normalize over time and described the broader inflationary effects tied to the Middle East conflict as manageable, with a net impact in the range of a few million dollars that is already reflected in guidance.

Argo Facility Improves, but U.S./Canada Segment Remains Pressured Food & Industrial Ingredients—U.S./CAN posted a 7% decline in second-quarter sales, and operating income was $58 million. Ingredion attributed the results to production challenges at the Argo facility, softer consumer demand and weaker price mix.

Zallie said reliability and production improved sequentially at Argo during the quarter, with all major units operating at normal production rates by the end of June. The company has addressed issues involving grinding, downstream refining and an April thermal event that affected its germ-processing unit, he said.

Ingredion is also increasing targeted capital spending at the facility to support reliability, including added redundancy in saccharification tanks. Zallie said the company has conducted root-cause work across maintenance, training, leadership and operating procedures.

Payant said costs associated with prior production disruptions will continue to flow through inventory into July, but Ingredion expects the plant to rebuild inventories and return toward historical margins by the end of the year. The company expects the U.S./CAN business to return to normal operating profit margins and levels in 2027, although some effects from production-network changes may persist into next year.

In Food & Industrial Ingredients—LATAM, sales increased 3%, while operating income fell 7% to $118 million. Mexico faced transactional currency effects and a challenging demand environment, while South America benefited from regional strength, including growth in Brazil’s industrial and brewing markets.

Portfolio Moves and Tate & Lyle Transaction Ingredion highlighted several portfolio and innovation actions during the quarter. The company announced a strategic partnership with Sanstar in India to expand pharmaceutical excipient capabilities and access large-scale manufacturing. It also acquired Benicaros, a clinically supported immune-health prebiotic, and introduced Ask Ingredion, an artificial intelligence-powered formulation platform for customers.

The company also cited growth opportunities in sustainable packaging, including plant-based alternatives to PFAS-containing grease-resistant barriers and bio-based adhesive solutions for corrugated packaging. Net sales in the company’s All Other category rose 8%, aided by more than 40% growth in protein fortification sales, particularly higher-value isolates and specialty applications.

Ingredion also continued reshaping its portfolio through the sale of its majority stake in its Pakistan business and the closure of its Cabo, Brazil, plant. The company said those actions reduce exposure to less differentiated ingredients.

Meanwhile, Tate & Lyle shareholders approved Ingredion’s proposed all-cash acquisition of the company. Zallie said the transaction now awaits regulatory reviews and other closing conditions. Ingredion continues to expect the deal to add $2.7 billion in complementary revenue, generate $130 million in expected run-rate synergies by 2030 and deliver more than 15% adjusted EPS accretion in the first full calendar year after closing.

Outlook Reaffirmed Despite Pakistan Sale Adjustment Ingredion reaffirmed its full-year adjusted EPS outlook of $10.30 to $10.90 after accounting for the sale of its majority stake in Pakistan. The company still expects full-year net sales to be flat to up low single digits, although it now expects adjusted operating income to decline by a mid-single-digit percentage.

Texture & Healthful Solutions sales are expected to rise by a mid-single-digit percentage, with operating income up mid- to high-single digits. Food & Industrial Ingredients—LATAM sales are expected to increase by a low-single-digit percentage, while operating income is expected to decline by a low-single-digit percentage. Food & Industrial Ingredients—U.S./CAN sales are expected to decline by a low-single-digit percentage, with operating income down 20% to 25% because of first-half Argo disruptions. Cash from operations is now projected at $700 million to $800 million, while capital expenditures are expected to total $450 million to $490 million, including additional spending at Argo. For the third quarter, Ingredion expects net sales to rise by a low-single-digit percentage and adjusted operating income to decline by a mid-single-digit percentage. The company said the outlook reflects the Pakistan divestiture, higher corporate costs relative to the second quarter, and the expected reversal of a $2 million second-quarter mark-to-market gain on its Sanstar investment.

About Ingredion (NYSE:INGR) 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.

Ingredion Incorporated (INGR) Q2 2026 Earnings Call Transcript

Second quarter 2026 reported and adjusted* operating income decreased 31% and 5% compared to the second quarter 2025Second quarter 2026 reported and adjusted EPS were $1.78 and $2.82, compared with $2.99 and $2.87 in the second quarter 2025Reaffirming amended full-year guidance, which now reflects the sale of a majority stake in the Pakistan business, for reported EPS to be in the range of $9.15 to $9.75 and adjusted EPS to be in the range of $10.30 to $10.90Ingredion’s 595 pence all-cash offer to acquire Tate & Lyle accepted by their shareholders WESTCHESTER, Ill., Aug. 04, 2026 (GLOBE NEWSWIRE) -- Ingredion Incorporated (NYSE: INGR), a leading global provider of ingredient solutions to the food and beverage manufacturing industry, today reported its second quarter 2026 results.

"Ingredion delivered a solid second quarter, with Texture & Healthful Solutions continuing its quarterly net sales volume growth and Food & Industrial Ingredients—U.S./CAN operating results sequentially improving during the quarter," said Jim Zallie, chairman, president and CEO of Ingredion. "Additionally, we completed the sale of our majority stake in the Pakistan business, and we are pleased to report that Tate & Lyle’s shareholders approved our recommended all-cash offer on July 28, marking an important step toward completing the transaction."

"Texture & Healthful Solutions delivered its ninth consecutive quarter of broad-based net sales volume growth, driven by continued strong customer demand for our solutions offerings, including clean-label ingredients, demonstrating the durability and margin enhancement of our solutions-selling model."

"Food & Industrial Ingredients—LATAM continued to deliver in line with expectations, which was a result of focused execution across the region, the resilience of our diversified businesses, and the advancement of network optimization opportunities, which included the announced closure of our Cabo, Brazil facility. We also successfully navigated foreign exchange headwinds and macroeconomic pressures.”

“In Food & Industrial Ingredients—U.S./CAN, reliability at our Argo plant improved, with sequentially better production rates and yields achieved throughout the quarter. We are pleased to say that the plant is operating at normal production rates across all major operating units.”

“Looking ahead, we are focused on continued operational execution across our Food & Industrial Ingredients businesses and accelerating the growth of our Texture & Healthful Solutions portfolio. We have also commenced the integration planning work for the pending acquisition of Tate & Lyle, which, when completed, will establish Ingredion as a more comprehensive global leader in ingredient solutions with the innovation expertise and geographic reach that will help create the future of food.”

* Reported results are in accordance with U.S. generally accepted accounting principles (“GAAP”). Adjusted financial measures are non-GAAP financial measures. See “II. Non-GAAP Information” in the Supplemental Financial Information that follows the Condensed Consolidated Financial Statements for a reconciliation of non-GAAP financial measures to the most directly comparable GAAP measures.

Diluted Earnings Per Share (EPS)

 2Q252Q26Reported Diluted EPS$        2.99 $        1.78 Acquisition/integration costs —  0.64 Impairment charges (0.02) 0.34 Restructuring costs 0.03  0.14 Net (gain) on sale of business —  (0.27)Tax items and other matters (0.13) 0.19 Adjusted Diluted EPS**$        2.87 $        2.82  Factors affecting changes in Reported and Adjusted EPS

 2Q26Total items affecting adjusted diluted EPS**(0.05)Total operating items(0.17)Margin(0.34)Volume0.03 Foreign exchange0.05 Other income0.09 Total non-operating items0.12 Financing costs0.05 Non-controlling interests— Tax rate— Shares outstanding0.07 Other non-operating income—  ** Totals may not sum or recalculate due to rounding

Business Review

Total Ingredion

Net Sales

$ in millions2025FX
ImpactVolumePrice
Mix2026ChangeChange
excl. FXSecond Quarter1,8333620 (39)1,8501%(1%)Year-to-Date3,64669(12)(61)3,642—%(2%) Second quarter net sales increased 1%. The increase was primarily driven by higher net sales volume in T&HS and favorable foreign exchange in F&II—LATAM, partially offset by less favorable overall price mix and lower net sales volume in F&II—U.S./CAN. Reported Operating Income

$ in millions2025FX ImpactBusiness
DriversRestructuring/ImpairmentOther2026ChangeChange
excl. FXSecond Quarter2715(20)(42)(26)188(31%)(32%)Year-to-Date54711(87)(46)(34)391(29%)(31%) Adjusted Operating Income

$ in millions2025FX ImpactBusiness
Drivers2026ChangeChange
excl. FXSecond Quarter2735(20)258(5%)(7%)Year-to-Date54611(87)470(14%)(16%) Second quarter reported and adjusted operating income were $188 million and $258 million, respectively. The difference between reported and adjusted operating income was primarily attributable to impairment charges and costs from the closure of our Cabo, Brazil facility, as well as costs attributable to the previously announced thermal event at our Argo plant. Excluding foreign exchange translation impacts, reported operating income was down 32% and adjusted operating income was down 7% from a year ago. Texture & Healthful Solutions

Net Sales

$ in millions2025FX ImpactVolumePrice
Mix2026ChangeChange
excl. FXSecond Quarter599544(21)6275%4%Year-to-Date1,2011857(32)1,2444%2% Segment Operating Income

$ in millions2025FX ImpactBusiness
Drivers2026ChangeChange
excl. FXSecond Quarter111151175%5%Year-to-Date210432173%1% Second quarter operating income for Texture & Healthful Solutions was $117 million, up $6 million from a year ago, driven by sales volume growth, partially offset by unfavorable price mix and higher tapioca costs. Excluding foreign exchange translation impacts, segment operating income was up 5%. Food & Industrial Ingredients—LATAM

Net Sales

$ in millions2025FX
ImpactVolumePrice
Mix2026ChangeChange
excl. FXSecond Quarter59630(5)(10)6113%(3%)Year-to-Date1,16948(12)(15)1,1902%(2%) Segment Operating Income

$ in millions2025FX ImpactBusiness
DriversArgentina JV2026ChangeChange
excl. FXSecond Quarter1274(17)4118(7%)(10%)Year-to-Date2546(31)4233(8%)(11%) Second quarter operating income for Food & Industrial Ingredients—LATAM was $118 million, a $9 million decrease from a year ago, driven primarily by Mexico’s transactional currency impacts and a more challenging demand environment. Excluding foreign exchange translational impacts, segment operating income was down 10%. Food & Industrial Ingredients—U.S./CAN

Net Sales

$ in millions2025FX ImpactVolumePrice
Mix2026ChangeChange
excl. FXSecond Quarter523—(22)(13)488(7%)(7%)Year-to-Date1,0432(60)(22)963(8%)(8%) Segment Operating Income

$ in millions2025FX ImpactBusiness
Drivers2026ChangeChange
excl. FXSecond Quarter86—(28)58(33%)(33%)Year-to-Date1781(87)92(48%)(49%) Second quarter operating income for Food & Industrial Ingredients—U.S./CAN was $58 million, a $28 million decrease from the prior year. The decline resulted from lower production at our Argo facility, which had normalized by the end of the quarter, as well as softer volumes and price mix. Excluding foreign exchange translation impacts, operating income was down 33%. All Other*

Net Sales

$ in millions2025FX ImpactVolumePrice
Mix2026ChangeChange
excl. FXSecond Quarter1151351248%7%Year-to-Date2331382455%5% All Other Operating Income (Loss)

$ in millions2025
FX ImpactBusiness
Drivers2026ChangeChange
excl. FXSecond Quarter(1)—76NMNMYear-to-Date(1)—109NMNM Second quarter operating income (loss) for All Other increased $7 million from the prior year, reflecting continued improvements in the Protein Fortification business. * All Other consists of the businesses of multiple operating segments that are not individually or collectively classified as reportable segments. Net sales from All Other are generated primarily by sweetener and starch sales from the Pakistan business, sales of stevia and other ingredients from our PureCircle and other sugar reduction businesses, and pea protein ingredients from our Protein Fortification business.

Other Financial Items

At June 30, 2026, total debt was $1.8 billion, and cash, including short-term investments, was $952 million, versus $1.8 billion and $1.0 billion, at December 31, 2025.Net financing costs were $55 million in Q2 2026, compared to $12 million in Q2 2025, primarily due to a $47 million mark-to-market foreign exchange loss on derivatives used to hedge British pound sterling exposure related to the pending Tate & Lyle acquisition.The reported and adjusted effective tax rates for the second quarter were 33.7% and 27.2%, compared to 23.6% and 27.2%, for the year-ago period. The increase in the reported effective tax rate was primarily attributable to the gain on the sale of a majority stake in the Pakistan business and the change in value of the Mexican peso relative to the U.S. dollar. These impacts were partially offset by the utilization of previously unbenefited capital losses.Net capital expenditures totaled $210 million through June 30, 2026. Dividends and Share Repurchases

In the second quarter, the Company paid $52 million in dividends to shareholders. On May 20, 2026, the Company declared a quarterly dividend of $0.82 per share, which was paid on July 21, 2026. Year-to-date, the Company has repurchased $14 million of common stock and remains committed to its $100 million full-year target.

Full-Year 2026 Outlook

Ingredion reaffirms its 2026 full year outlook after reflecting the impact of the sale of a majority stake in the Pakistan business on the second half of the year. The Company expects its full-year 2026 reported EPS to be in the range of $9.15 to $9.75, and its adjusted EPS to be in the range of $10.30 to $10.90.

The Company still expects full-year 2026 net sales to be flat to up low single digits, reflecting volume growth and favorable foreign exchange, partially offset by lower price mix as well as the impact of the previously mentioned sale of its majority stake in the Pakistan business.

Reported operating income is expected to be down low double digits, with adjusted operating income now expected to be down mid-single-digits for full-year 2026, which reflects the second half impact from the sale of a majority stake in the Pakistan business.

The 2026 full-year outlook further assumes the following: Texture & Healthful Solutions operating income is now expected to be up mid-to-high single-digits, driven by sales volume growth, partially offset by expected higher input cost inflation; Food & Industrial Ingredients—LATAM operating income is still anticipated to be down low single-digits, reflecting the continued strength of the Mexican peso; Food & Industrial Ingredients—U.S./CAN operating income is now expected to be down 20-25%, driven by the operational headwinds Argo incurred in the first half of 2026; and All Other’s operating loss is now anticipated to be approximately $(15) million, which reflects the removal of the second half earnings contribution of the Pakistan business.

Corporate costs for full-year 2026 are now expected to be down mid-single-digits.

For full-year 2026, the Company expects a reported effective tax rate of 27.4% to 28.9% and still expects an adjusted effective tax rate of 26.0% to 27.5%.

Cash from operations for the full year 2026 is now expected to be in the range of $700 million to $800 million. Capital expenditures for the full year are now expected to be approximately $450 to $490 million.

This guidance reflects tariff levels in effect as of the end of July 2026. In addition, this guidance excludes acquisition-related integration and restructuring costs, as well as any potential impairment costs.

Third Quarter 2026 Outlook

For the third quarter of 2026, compared to the same quarter last year, the Company expects net sales to be up low single-digits. Reported and adjusted operating income are both expected to be down mid-single-digits, which again reflects the impact of the sale of our majority stake in the Pakistan business.

Conference Call and Webcast Details

Ingredion will host a conference call on Tuesday, August 4, 2026, at 8 a.m. CT/9 a.m. ET, hosted by Jim Zallie, chairman, president and chief executive officer and Jason Payant, vice president and interim chief financial officer. The call will be webcast in real time and can be accessed at https://ir.ingredionincorporated.com/events-and-presentations. A presentation containing additional financial and operating information will be available on the Company’s website above and can be downloaded a few hours before the call begins. A replay will be available for a limited time at https://ir.ingredionincorporated.com/financial-information/quarterly-results. 

About Ingredion

Ingredion Incorporated (NYSE: INGR), headquartered in the suburbs of Chicago, is a leading global ingredient solutions provider serving customers in more than 120 countries. With 2025 annual net sales of approximately $7.2 billion, the Company turns grains, fruits, vegetables and other plant-based materials into value-added ingredient solutions for the food, beverage, animal nutrition, brewing and industrial markets. With Ingredion Idea Labs® innovation centers located around the world and more than 11,000 employees, the Company co-creates with customers and fulfills its purpose of bringing the potential of people, nature and technology together to make life better. Visit ingredion.com for more information and the latest Company news.

Forward-Looking Statements

This news release contains or may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Ingredion Incorporated intends these forward-looking statements to be covered by the safe harbor provisions for such statements.

Forward-looking statements include, among others, any statements regarding our expectations for third quarter 2026 net sales and reported and adjusted operating income, full-year 2026 reported and adjusted earnings per share, net sales, reported and adjusted operating income, segment operating income, corporate costs, reported and adjusted effective tax rate, cash from operations, and capital expenditures, and any other statements regarding our prospects and our future operations, financial condition, volumes, cash flows, expenses or other financial items, including management’s plans or strategies and objectives for any of the foregoing and any assumptions, expectations, or beliefs underlying any of the foregoing. In addition, such statements include statements regarding our expectations with respect to completion and benefits of the pending acquisition of Tate & Lyle (the “pending acquisition”), including statements regarding plans, objectives, intentions and expectations with respect to the future operations and financial performance of the combined group.

These statements can sometimes be identified by the use of forward-looking words such as “may,” “will,” “should,” “anticipate,” “assume,” “believe,” “plan,” “project,” “estimate,” “expect,” “intend,” “continue,” “pro forma,” “forecast,” “outlook,” “opportunities,” “potential,” or other similar expressions or the negative thereof. All statements other than statements of historical facts therein are “forward-looking statements.”

These statements are based on current circumstances or expectations, but are subject to certain inherent risks and uncertainties, many of which are difficult to predict and beyond our control. Although we believe our expectations reflected in these forward-looking statements are based on reasonable assumptions, investors are cautioned that no assurance can be given that our expectations will prove correct.

The following factors relating to the pending acquisition, among others, could cause actual results to differ materially from those expressed in or implied by our forward-looking statements: failure of the pending acquisition to be completed when expected or at all because of the inability to satisfy material antitrust or other conditions or for other reasons; the risk that the expected benefits of the pending acquisition may not be fully realized or may take longer to realize than anticipated, including as a result of the risks and uncertainties discussed below; failure to integrate effectively the businesses of Ingredion and Tate & Lyle or to manage effectively the expanded operations of the combined group; the incurrence of substantial expenses and indebtedness by Ingredion and the combined group to complete the pending acquisition and to operate the enterprise after completion; and the risk of loss of contracts and customers, distributors, suppliers, vendors and other business partners of Tate & Lyle as a result of the pending acquisition.

Actual results and developments may differ materially from the expectations expressed in or implied by our forward-looking statements, based on various risks and uncertainties, including changes in consumer practices, preferences, price sensitivity, behaviors, demand and perceptions; the impact of geopolitical developments, tensions, threats or conflicts on the availability and prices of raw materials and energy supplies, supply chains and foreign exchange and interest rates; the impact of global business and economic conditions on demand for our products or our access to global credit and equity markets; our reliance on certain industries for a significant portion of our sales; operating difficulties at our manufacturing facilities and liabilities relating to product safety and quality; our ability to keep pace with technological developments in research and development and continue to offer innovative products; competitive pressures that may adversely affect our market share, revenue and profitability; market volatility that may adversely affect our ability to pass through potential increases in the cost of corn and other raw materials to customers, to purchase quantities of corn and other raw materials at prices sufficient to sustain or increase our profitability, or to supply product quantities and meet shipment delivery requirements that our customers demand; the impact on inputs to our procurement, production processes and delivery channels, such as raw material, energy, and freight and logistics, of price fluctuations, supply chain interruptions, tariffs, duties, and shortages; our ability to contain costs, manage working capital, and achieve budgets, including completion of planned maintenance and investment projects on time and on budget; global climate change and legal, regulatory, or market measures to address climate change; our ability to identify and complete acquisitions, divestitures, or strategic alliances on favorable terms or achieve anticipated synergies; the economic, political and other risks inherent in conducting operations in foreign countries and with foreign currencies; our ability to maintain satisfactory labor relations; our ability to attract, develop, retain, motivate and maintain good relationships with our workforce, including key personnel; the impact of legal and regulatory proceedings; the risks associated with pandemics; the impact of any impairment charges on intangible assets and goodwill; global and regional economic policies and changes to existing laws and regulations; changes in our tax rates or exposure to additional income tax liabilities; increases in interest rates that could increase our borrowing costs; risks affecting our ability to raise funds at reasonable rates and other factors affecting our access to sufficient funds for future growth and expansion; risks relating to the use of artificial intelligence and other advanced technologies, and our reliance on third‑party technology providers; interruptions, security incidents, or failures with respect to information technology systems, processes, and sites; risks affecting the continuation of our dividend policy; and our ability to maintain effective internal control over financial reporting.

Our forward-looking statements speak only as of the date on which they are made, and we do not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of the statement as a result of new information or future events or developments or otherwise. If we do update or correct one or more of these statements, investors and others should not conclude that we will make additional updates or corrections. For a further description of these and other risks, see “Risk Factors” and other information included in our Annual Report on Form 10-K for the year ended December 31, 2025, and in our subsequent reports on Form 10-Q and Form 8-K filed with the Securities and Exchange Commission.

This press release is for information purposes and is not intended to and does not constitute, or form part of, an offer, invitation or the solicitation of an offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of any securities, or the solicitation of any vote or approval in any jurisdiction, pursuant to the all-cash offer by the Company for the entire issued and to be issued ordinary share capital of Tate & Lyle, or otherwise, nor shall there be any sale, issuance or transfer of securities of Tate & Lyle in any jurisdiction in contravention of applicable law. The pending acquisition will be made solely by means of a scheme of arrangement (or, if the pending acquisition is implemented by way of a takeover offer, as that term is defined in the UK Companies Act 2006 (a “Takeover Offer”), the offer document), which will contain the full terms and conditions of the pending acquisition. If the Company exercises its right to implement the pending acquisition by way of a Takeover Offer, such offer will be made in compliance with applicable U.S. laws and regulations.

Ingredion Incorporated
Condensed Consolidated Statements of Income
(Unaudited)
(dollars and shares in millions, except per share data) Three Months Ended June 30, Change
%
 Six Months Ended June 30, Change
%
 2026   2025    2026   2025  Net sales$1,850  $1,833  1% $3,642  $3,646  —%Cost of sales 1,424   1,356     2,815   2,703   Gross profit 426   477  (11%)  827   943  (12%)Operating expenses 207   208  —%  407   401  1%Other operating (income), net (14)  (5)    (27)  (15)  Restructuring/impairment charges 45   3     56   10   Operating income 188   271  (31%)  391   547  (29%)Financing costs 55   12     64   21   Net (gain) on sale of business (44)  —     (44)  —   Other non-operating expense, net 2   —     2   —   Income before income taxes 175   259  (32%)  369   526  (30%)Provision for income taxes 59   61     109   129   Net income 116   198  (41%)  260   397  (35%)Less: Net income attributable to non-controlling interests 2   2     4   4   Net income attributable to Ingredion$114  $196  (42%) $256  $393  (35%)            Earnings per common share attributable to Ingredion common shareholders:                       Weighted average common shares outstanding:           Basic 63.3   64.5     63.2   64.5   Diluted 63.9   65.6     63.9   65.6               Earnings per common share of Ingredion:           Basic$1.80  $3.04  (41%) $4.05  $6.09  (33%)Diluted$1.78  $2.99  (40%) $4.01  $5.99  (33%) Ingredion Incorporated
Condensed Consolidated Balance Sheets
(dollars and shares in millions, except per share amounts)
  June 30, 2026 December 31, 2025
  (Unaudited) Assets    Current assets:    Cash and cash equivalents $948  $1,030 Short-term investments  4   3 Accounts receivable, net  1,386   1,185 Inventories  1,109   1,227 Prepaid expenses and assets held for sale  76   60 Total current assets  3,523   3,505 Property, plant and equipment, net  2,521   2,526 Goodwill  917   922 Intangible assets, net  337   347 Other non-current assets  772   597 Total assets $8,070  $7,897      Liabilities and stockholders’ equity    Current liabilities:    Short-term borrowings $41  $48 Accounts payable, accrued liabilities and liabilities held for sale  1,218   1,268 Total current liabilities  1,259   1,316 Long-term debt  1,742   1,742 Other non-current liabilities  496   473 Total liabilities  3,497   3,531      Share-based payments subject to redemption  49   64 Redeemable non-controlling interests  —   7      Ingredion stockholders’ equity:    Preferred stock — authorized 25.0 shares — $0.01 par value, none issued  —   — Common stock — authorized 200.0 shares — $0.01 par value, 77.8 shares issued at June 30, 2026 and December 31, 2025  1   1 Additional paid-in capital  1,163   1,155 Less: Treasury stock (common stock: 14.7 and 14.8 shares at June 30, 2026 and December 31, 2025) at cost  (1,553)  (1,555)Accumulated other comprehensive loss  (848)  (937)Retained earnings  5,761   5,610 Total Ingredion stockholders’ equity  4,524   4,274 Non-redeemable non-controlling interests  —   21 Total stockholders’ equity  4,524   4,295 Total liabilities and stockholders’ equity $8,070  $7,897  Ingredion Incorporated
Condensed Consolidated Statements of Cash Flows
(Unaudited)
(dollars in millions)
  Six Months Ended June 30,  2026   2025 Cash from operating activities    Net income $260  $397 Non-cash charges to net income:    Depreciation and amortization  110   108 Mechanical stores expense  38   32 Net (gain) on sale of business  (44)  — Impairment charges  33   6 Foreign exchange losses, net  47   4 Margin accounts  (19)  (9)Changes in other working capital  (231)  (241)Other  (71)  (35)Cash provided by operating activities  123   262 Cash from investing activities    Capital expenditures and mechanical stores purchases, net  (210)  (193)Proceeds from sales of businesses, net  139   12 Purchases of equity securities, net  (26)  (19)Other  (5)  (3)Cash used for investing activities  (102)  (203)Cash from financing activities    Proceeds (payments) on borrowings, net  35   (46)Repurchases of common stock, net  (14)  (55)Common stock activity for share-based compensation, net  (10)  (9)Purchases of non-controlling interests  (7)  — Dividends paid, including to non-controlling interests  (105)  (106)Cash used for financing activities  (101)  (216)Effects of foreign exchange rate changes on cash and cash equivalents  (2)  21 (Decrease) in cash and cash equivalents  (82)  (136)Cash and cash equivalents, beginning of period  1,030   997 Cash and cash equivalents, end of period $948  $861  Ingredion Incorporated
Supplemental Financial Information
(Unaudited)
(dollars in millions, except for percentages)

I. Segment Information of Net Sales to Unaffiliated Customers and Operating Income

 Three Months Ended
June 30, Change %
 Change
Excl. FX %
 Six Months Ended
June 30, Change %
 Change
Excl. FX %
 2026   2025     2026   2025   Net Sales to Unaffiliated Customers:               Texture & Healthful Solutions (i)$627  $599  5% 4% $1,244  $1,201  4% 2%Food & Industrial Ingredients—LATAM (ii) 611   596  3% (3%)  1,190   1,169  2% (2%)Food & Industrial Ingredients—U.S./Canada (iii) 488   523  (7%) (7%)  963   1,043  (8%) (8%)All Other (iv) 124   115  8% 7%  245   233  5% 5%Net Sales$1,850  $1,833  1% (1%) $3,642  $3,646  —% (2%)                Operating Income (Loss):               Texture & Healthful Solutions$117  $111  5% 5% $217  $210  3% 1%Food & Industrial Ingredients—LATAM 118   127  (7%) (10%)  233   254  (8%) (11%)Food & Industrial Ingredients—U.S./Canada 58   86  (33%) (33%)  92   178  (48%) (49%)All Other 6   (1) NM NM  9   (1) NM NMCorporate (41)  (50) (18%) (18%)  (81)  (95) (15%) (15%)Adjusted Operating Income 258   273  (5%) (7%)  470   546  (14%) (16%)Acquisition/integration costs (6)  —       (6)  —     Impairment charges (31)  —       (31)  (6)    Restructuring costs (14)  (3)      (25)  (4)    Other matters (19)  1       (17)  11     Operating Income$188  $271  (31%) (32%) $391  $547  (29%) (31%) Notes to Net Sales to Unaffiliated Customers

(i)   Net of inter-segment sales of $35 million and $9 million for the second quarter of 2026 and 2025, and $44 million and $18 million for year-to-date 2026 and 2025.

(ii)   Net of inter-segment sales of $11 million and $14 million for the second quarter of 2026 and 2025, and $21 million and $27 million for year-to-date 2026 and 2025.

(iii)   Net of inter-segment sales of $48 million and $27 million for the second quarter of 2026 and 2025, and $75 million and $60 million for year-to-date 2026 and 2025.

(iv)   Net of inter-segment sales of $8 million and $4 million for the second quarter of 2026 and 2025, and $12 million and $7 million for year-to-date 2026 and 2025.

II. Non-GAAP Information

To supplement the consolidated financial results prepared in accordance with U.S. generally accepted accounting principles (“GAAP”), non-GAAP historical financial measures are used, which exclude certain GAAP items such as acquisition/integration costs, restructuring costs, impairment charges, net (gain) on sale of business, Mexico tax item, and other specified items. The term “adjusted” is generally used when referring to these non-GAAP financial measures.

Management uses non-GAAP financial measures internally for strategic decision making, forecasting future results and evaluating current performance. By disclosing non-GAAP financial measures, management intends to provide investors with a more meaningful, consistent comparison of the Company’s operating results and trends for the periods presented. These non-GAAP financial measures are used in addition to and in conjunction with results presented in accordance with GAAP and reflect an additional way of viewing aspects of the Company’s operations that, when viewed with its GAAP results, provide a more complete understanding of factors and trends affecting its business. Expected financial measures may not reflect certain future charges, costs and/or gains that are inherently difficult to predict and estimate due to their unknown timing, effect and/or significance. Non-GAAP adjustments are generally made to adjusted financial measures, which increases management’s confidence in its ability to forecast adjusted financial measures than in its ability to forecast GAAP financial measures. These non-GAAP measures, including non-GAAP expected measures, should be considered as a supplement to, and not as a substitute for, or superior to, the corresponding measures calculated in accordance with GAAP.

Non-GAAP financial measures are not prepared in accordance with GAAP; therefore, the Company’s non-GAAP information is not necessarily comparable to similarly titled measures presented by other companies. A reconciliation of each non-GAAP financial measure to the most comparable GAAP measure is provided in the tables below.

Ingredion Incorporated
Reconciliation of GAAP Net Income attributable to Ingredion and Diluted Earnings Per Share (“EPS”) to Non-GAAP Adjusted Net Income attributable to Ingredion and Adjusted Diluted EPS
(Unaudited) Three Months Ended
June 30, 2026 Six Months Ended
June 30, 2026 (in millions) Diluted EPS (in millions) Diluted EPSNet income attributable to Ingredion$114  $1.78  $256  $4.01         Adjustments:               Acquisition/integration costs (i) 41   0.64   41   0.64         Impairment charges (ii) 22   0.34   22   0.34         Restructuring costs (iii) 9   0.14   19   0.30         Net (gain) on sale of business (iv) (17)  (0.27)  (17)  (0.27)        Other matters (v) 14   0.23   12   0.19         Tax item–Mexico (vi) (2)  (0.03)  (6)  (0.09)        Other tax matters (vii) (1)  (0.01)  3   0.04         Non-GAAP adjusted net income attributable to Ingredion$180  $2.82  $330  $5.16   Three Months Ended
June 30, 2025 Six Months Ended
June 30, 2025 (in millions) Diluted EPS (in millions) Diluted EPSNet income attributable to Ingredion$196  $2.99  $393  $5.99         Adjustments:               Impairment charges (ii) (1)  (0.02)  4   0.06         Restructuring costs (iii) 2   0.03   3   0.05         Other matters (v) (1)  (0.02)  (8)  (0.12)        Tax item–Mexico (vi) (6)  (0.08)  (7)  (0.11)        Other tax matters (vii) (2)  (0.03)  (2)  (0.03)        Non-GAAP adjusted net income attributable to Ingredion$188  $2.87  $383  $5.84  Net income and EPS may not sum or recalculate due to rounding.

Notes(i)   During the three and six months ended June 30, 2026, we recorded pre-tax acquisition and integration costs of $53 million primarily related to our pending acquisition of Tate & Lyle, including a $47 million of acquisition-related foreign exchange hedging losses. There was no such activity during the three and six months ended June 30, 2025.

(ii)   During the three and six months ended June 30, 2026, we recorded pre-tax impairment charges of $33 million, primarily related to the closure of our facility in Cabo, Brazil. During the three months ended June 30, 2025, we recorded a tax benefit for impairment charges to equity method investments. During the six months ended June 30, 2025, we recorded $6 million of pre-tax impairment charges on our equity investments.

(iii)   During the three and six months ended June 30, 2026, we recorded pre-tax restructuring costs of $14 million and $25 million, primarily related to the closure of our facility in Cabo, Brazil, and costs related to our sale of the Pakistan business and other restructuring activity. During the three and six months ended June 30, 2025, we recorded pre-tax restructuring costs of $3 million and $4 million, primarily related to decommissioning costs for plant closures.

(iv)   During the three and six months ended June 30, 2026, we recorded a net pre-tax gain of $44 million related to the sale of our Pakistan business. There was no such activity during the three and six months ended June 30, 2025.

(v)   During the three and six months ended June 30, 2026, we recorded pre-tax charges of $19 million and $17 million primarily related to the Argo thermal event. During the three and six ended June 30, 2025, we recorded pre-tax benefits of $1 million and $11 million primarily related to insurance recoveries and a favorable judgment related to certain indirect taxes in Brazil.

(vi)   The tax amounts are result of the movement of the Mexican peso against the U.S. dollar and its impact on the remeasurement of the Mexico financial statements during the period.

(vii)   During the three and six months ended June 30, 2026,we recorded a change in our accrual related to the permanent reinvestment of foreign earnings, recognized prior-year tax liabilities, associated tax impacts related to the above current and prior-year non-GAAP adjustments, and recapture of prior-year U.S. tax benefits. These were partially offset by the utilization of previously unbenefited capital losses, recognition of a deferred tax asset, and interest income on previously recognized tax benefits associated with certain Brazilian local incentives that were previously taxable.

Ingredion Incorporated
Reconciliation of GAAP Operating Income to Non-GAAP Adjusted Operating Income
(Unaudited)
(dollars in millions, pre-tax)
 Three Months Ended
June 30, Six Months Ended
June 30,2026 2025  2026  2025 Operating income$188 $271  $391 $547         Adjustments:               Acquisition/integration costs (i) 6  —   6  —         Impairment charges (ii) 31  —   31  6         Restructuring costs (iii) 14  3   25  4         Other matters (v) 19  (1)  17  (11)        Non-GAAP adjusted operating income$258 $273  $470 $546  For notes (i) through (v), see notes (i) through (v) included in the Reconciliation of GAAP Net Income attributable to Ingredion and Diluted Earnings Per Share (“EPS”) to Non-GAAP Adjusted Net Income attributable to Ingredion and Adjusted Diluted EPS.

Ingredion Incorporated
Reconciliation of GAAP Effective Income Tax Rate to Non-GAAP Adjusted Effective Income Tax Rate
(Unaudited)
(dollars in millions, except for percentages)

 Three Months Ended June 30, 2026 Six Months Ended June 30, 2026Income before Income Taxes (a) Provision for Income Taxes (b) Effective Income
Tax Rate (b/a) Income before Income Taxes (a) Provision for Income Taxes (b) Effective Income
Tax Rate (b/a)As Reported$175  $59  33.7% $369  $109  29.5%            Adjustments:                       Acquisition/integration costs (i) 53   12     53   12               Impairment charges (ii) 33   11     33   11               Restructuring costs (iii) 14   5     25   6               Net (gain) on sale of business (iv) (44)  (27)    (44)  (27)              Other matters (v) 19   5     17   5               Tax item–Mexico (vi) —   2     —   6               Other tax matters (vii) —   1     —   (3)              Adjusted Non-GAAP$250  $68  27.2% $453  $119  26.3%  Three Months Ended June 30, 2025 Six Months Ended June 30, 2025Income before Income Taxes (a) Provision for Income Taxes (b) Effective Income
Tax Rate (b/a) Income before Income Taxes (a) Provision for Income Taxes (b) Effective Income
Tax Rate (b/a)As Reported$259  $61 23.6% $526  $129  24.5%            Adjustments:                       Impairment charges (ii) —   1    6   2               Restructuring costs (iii) 3   1    4   1               Other matters (v) (1)  —    (11)  (3)              Tax item–Mexico (vi) —   6    —   7               Other tax matters (vii) —   2    —   2               Adjusted Non-GAAP$261  $71 27.2% $525  $138  26.3% For notes (i) through (vii), see notes (i) through (vii) included in the Reconciliation of GAAP Net Income attributable to Ingredion and Diluted Earnings Per Share (“EPS”) to Non-GAAP Adjusted Net Income attributable to Ingredion and Adjusted Diluted EPS.

Ingredion Incorporated
Reconciliation of Expected GAAP Diluted Earnings Per Share (“GAAP EPS”)
to Expected Adjusted Diluted Earnings Per Share (“Adjusted EPS”)
(Unaudited)
 Expected EPS Range
for Full-Year 2026Low End of
Guidance High End of
GuidanceGAAP EPS$9.15  $9.75     Adjustments:       Acquisition/integration costs (i) 0.64   0.64     Impairment charges (ii) 0.34   0.34     Restructuring costs (iii) 0.30   0.30     Net (gain) on sale of business (iv) (0.27)  (0.27)    Other matters (v) 0.19   0.19     Tax item–Mexico (vi) (0.09)  (0.09)    Other tax matters (vii) 0.04   0.04     Adjusted EPS$10.30  $10.90  For notes (i) through (vii), see notes (i) through (vii) included in the Reconciliation of GAAP Net Income attributable to Ingredion and Diluted Earnings Per Share (“EPS”) to Non-GAAP Adjusted Net Income attributable to Ingredion and Adjusted Diluted EPS.

Ingredion Incorporated
Reconciliation of Expected GAAP Effective Income Tax Rate (“GAAP ETR”)
to Expected Adjusted Effective Income Tax Rate (“Adjusted ETR”)
(Unaudited)
 Expected Effective Income
Tax Rate Range
for Full-Year 2026Low End of
Guidance High End of
GuidanceGAAP ETR27.4% 28.9%    Adjustments:       Acquisition/integration costs (i)(0.3%) (0.3%)    Impairment charges (ii)0.2% 0.2%    Restructuring costs (iii)(0.1%) (0.1%)    Net (gain) on sale of business (iv)(1.6%) (1.6%)    Other matters (v)0.1% 0.1%    Tax item–Mexico (vi)0.6% 0.6%    Other tax matters (vii)(0.3%) (0.3%)    Adjusted ETR26.0% 27.5% For notes (i) through (vii), see notes (i) through (vii) included in the Reconciliation of GAAP Net Income attributable to Ingredion and Diluted Earnings Per Share (“EPS”) to Non-GAAP Adjusted Net Income attributable to Ingredion and Adjusted Diluted EPS.

CONTACTS:
Investors: Noah Weiss, 773-896-5242
Media: Rick Wion, 708-209-6323

Ingredion's cheap valuation and growing specialty business support the bull case, but Argo execution risks and weaker guidance argue for patience.

Tate & Lyle shareholders accept Ingredion’s recommended cash offerShareholder acceptance marks an important milestone toward creating a global ingredient solutions leader with enhanced innovation and formulation capabilitiesClosing expected in H2 2027, subject to the satisfaction of regulatory conditions WESTCHESTER, Ill., July 28, 2026 (GLOBE NEWSWIRE) -- Ingredion Incorporated (NYSE: INGR) (“Ingredion”), a leading global provider of ingredient solutions for food, beverage, pharmaceutical, personal care, and industrial applications, confirms that shareholders of Tate & Lyle PLC (“Tate & Lyle”), a global leader in mouthfeel, sweetening and fortification, have today accepted the terms of a recommended all-cash offer by Ingredion for the entire issued and to be issued share capital of Tate & Lyle, as announced on June 8, 2026.

“We are pleased that, at the recommendation of their Board of Directors, Tate & Lyle shareholders have accepted Ingredion’s all-cash offer to acquire all of the issued and outstanding shares of Tate & Lyle,” said Jim Zallie, chairman, president and CEO of Ingredion. “Today marks an important milestone toward establishing a global leader in ingredient solutions that will help create the future of food.”

The transaction is expected to deliver significant financial benefits and value creation. This includes run-rate net cost synergies of approximately $130 million, expected to be fully realized by the end of 2030, as well as adjusted EPS accretion to Ingredion shareholders in the first year following completion and an enhanced long-term growth profile and earnings potential for the combined group.

Regulatory review and clearance, as set out in the scheme document, is ongoing. As the regulatory review process progresses, Ingredion remains focused on securing the required approvals as efficiently as possible, while continuing to operate as a separate business from Tate & Lyle until completion of the transaction which is expected in the second half of 2027.

Zallie continued, “By combining the complementary capabilities of Ingredion and Tate & Lyle, we will strengthen our ability to help customers solve complex formulation challenges with an expanded innovation engine to accelerate product development and deliver the great-tasting, healthy and affordable food products that consumers want and deserve. As we work toward completing the transaction, we remain focused on serving customers with the quality, reliability and support they expect.”

For more information, please visit https://www.ingredion.com/na/en-us/legal/offer-communications.

Forward-Looking Statements

This press release contains or may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Ingredion intends these forward-looking statements to be covered by the safe harbor provisions for such statements.

Forward-looking statements in this press release include statements regarding Ingredion’s expectations with respect to completion and benefits of Ingredion’s recommended all-cash offer for the issued and to be issued share capital of Tate & Lyle (the “Acquisition”), including statements regarding plans, objectives, intentions and expectations with respect to completion of the Acquisition and the future operations and financial performance of the combined group. Forward-looking statements also include, among others, any other statements regarding Ingredion’s prospects and Ingredion’s future operations, financial condition, volumes, cash flows, expenses or other financial items, including management’s plans or strategies and objectives for any of the foregoing and any assumptions, expectations, or beliefs underlying any of the foregoing.

These statements can sometimes be identified by the use of forward-looking words such as “may,” “will,” “should,” “anticipate,” “assume,” “believe,” “plan,” “project,” “estimate,” “expect,” “intend,” “continue,” “pro forma,” “forecast,” “outlook,” “opportunities,” “potential,” or other similar expressions or the negative thereof. All statements other than statements of historical facts therein are “forward-looking statements.”

These statements are based on current circumstances or expectations, but are subject to certain inherent risks and uncertainties, many of which are difficult to predict and beyond Ingredion’s control. Although Ingredion believes its expectations reflected in these forward-looking statements are based on reasonable assumptions, investors are cautioned that no assurance can be given that Ingredion’s expectations will prove correct.

The following factors relating to the Acquisition, among others, could cause actual results to differ materially from those expressed in or implied by Ingredion’s forward-looking statements: failure of the Acquisition to be completed when expected or at all because of the inability to satisfy material antitrust or other conditions or for other reasons; the risk that the expected benefits of the Acquisition may not be fully realized or may take longer to realize that anticipated, including as a result of the risks and uncertainties discussed below; failure to integrate effectively the businesses of Ingredion and Tate & Lyle or to manage effectively the expanded operations of the combined group; and the incurrence of substantial expenses and indebtedness by Ingredion and the combined group to complete the Acquisition and to operate the enterprise after completion.

Additional risks and uncertainties that could cause actual results and developments to differ materially from the expectations expressed in or implied by Ingredion’s forward-looking statements include, among others: changes in consumer practices, preferences, price sensitivity, behaviors, demand and perceptions; the impact of geopolitical developments, tensions, threats or conflicts on the availability and prices of raw materials and energy supplies, supply chains and foreign exchange and interest rates; the impact of global business and economic conditions on demand for Ingredion’s products or Ingredion’s access to global credit and equity markets; Ingredion’s reliance on certain industries for a significant portion of Ingredion’s sales; operating difficulties at Ingredion’s manufacturing facilities and liabilities relating to product safety and quality; Ingredion’s ability to keep pace with technological developments in research and development and continue to offer innovative products; competitive pressures that may adversely affect Ingredion’s market share, revenue and profitability; market volatility that may adversely affect Ingredion’s ability to pass through potential increases in the cost of corn and other raw materials to customers, to purchase quantities of corn and other raw materials at prices sufficient to sustain or increase Ingredion’s profitability, or to supply product quantities and meet shipment delivery requirements that Ingredion’s customers demand; the impact on inputs to Ingredion’s procurement, production processes and delivery channels, such as raw material, energy, and freight and logistics, of price fluctuations, supply chain interruptions, tariffs, duties, and shortages; Ingredion’s ability to contain costs, manage working capital, and achieve budgets, including completion of planned maintenance and investment projects on time and on budget; global climate change and legal, regulatory, or market measures to address climate change; Ingredion’s ability to identify and complete acquisitions, divestitures, or strategic alliances on favorable terms or achieve anticipated synergies; the economic, political and other risks inherent in conducting operations in foreign countries and with foreign currencies; Ingredion’s ability to maintain satisfactory labor relations; Ingredion’s ability to attract, develop, retain, motivate and maintain good relationships with its workforce, including key personnel; the impact of legal and regulatory proceedings; the risks associated with pandemics; the impact of any impairment charges on intangible assets and goodwill; global and regional economic policies and changes to existing laws and regulations; changes in Ingredion’s tax rates or exposure to additional income tax liabilities; increases in interest rates that could increase Ingredion’s borrowing costs; risks affecting Ingredion’s ability to raise funds at reasonable rates and other factors affecting Ingredion’s access to sufficient funds for future growth and expansion; risks relating to the use of artificial intelligence and other advanced technologies, and Ingredion’s reliance on third party technology providers; interruptions, security incidents, or failures with respect to information technology systems, processes, and sites; risks affecting the continuation of Ingredion’s dividend policy; and Ingredion’s ability to maintain effective internal control over financial reporting.

Ingredion’s forward-looking statements speak only as of the date on which they are made, and Ingredion does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of the statement as a result of new information or future events or developments or otherwise. If Ingredion does update or correct one or more of these statements, investors and others should not conclude that Ingredion will make additional updates or corrections. For a further description of these and other risks, see “Risk Factors” and other information included in Ingredion’s Annual Report on Form 10-K for the year ended December 31, 2025 and in Ingredion’s subsequent reports on Form 10-Q and Form 8-K filed with the Securities and Exchange Commission.

About Ingredion Incorporated

Ingredion Incorporated (NYSE: INGR), headquartered in the suburbs of Chicago, is a leading global ingredient solutions provider serving customers in more than 120 countries. With 2025 annual net sales of approximately $7.2 billion, Ingredion turns grains, fruits, vegetables and other plant-based materials into value-added ingredient solutions for the food, beverage, animal nutrition, brewing, pharmaceutical and industrial markets. With Ingredion’s Idea Labs® innovation centers around the world and more than 11,000 employees, Ingredion co-creates with customers and fulfills its purpose of bringing the potential of people, nature and technology together to make life better. Visit ingredion.com for more information and the latest Ingredion news.

Contacts:

Media Relations:

In the U.S.:
Jayne Rosefield / Dave Carlson
+1 312 800 8120

In the U.K.:
Charles Pretzlik / Ed Brown / David Blackburn
+44 20 7404 5959

[email protected]

Investor Relations:

Noah Weiss, 773-896-5242

Posted by Defense World Staff on Jul 27th, 2026

Entropy Technologies LP grew its holdings in Ingredion Incorporated (NYSE:INGR – Free Report) by 42.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,838 shares of the company’s stock after buying an additional 7,342 shares during the period. Entropy Technologies LP’s holdings in Ingredion were worth $2,798,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in INGR. First Trust Advisors LP lifted its holdings in shares of Ingredion by 53.1% in the 1st quarter. First Trust Advisors LP now owns 3,054,149 shares of the company’s stock valued at $344,080,000 after acquiring an additional 1,059,324 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Ingredion by 22,036.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,037,106 shares of the company’s stock worth $114,351,000 after acquiring an additional 1,032,421 shares in the last quarter. Norges Bank bought a new stake in Ingredion during the fourth quarter worth approximately $85,310,000. AQR Capital Management LLC increased its stake in Ingredion by 143.1% during the third 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. Finally, Cooke & Bieler LP increased its stake in Ingredion by 33.6% during the fourth quarter. Cooke & Bieler LP now owns 1,207,153 shares of the company’s stock worth $133,101,000 after acquiring an additional 303,807 shares during the last quarter. 85.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth INGR has been the subject of several analyst reports. Zacks Research raised Ingredion from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 14th. UBS Group reissued a “neutral” rating and set a $114.00 target price on shares of Ingredion in a research report on Thursday, May 7th. Oppenheimer lowered Ingredion from an “outperform” rating to a “market perform” rating in a report on Monday, June 8th. Barclays lowered their price target on Ingredion from $128.00 to $120.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 6th. Finally, Benchmark reaffirmed a “buy” rating on shares of Ingredion in a research note on Tuesday, June 9th. One analyst has rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $122.43.

Read Our Latest Stock Report on Ingredion

Ingredion Stock Up 0.0% Shares of NYSE INGR opened at $101.17 on Monday. Ingredion Incorporated has a 1 year low of $94.44 and a 1 year high of $134.77. The firm has a 50-day simple moving average of $99.98 and a two-hundred day simple moving average of $108.87. The company has a market cap of $6.38 billion, a P/E ratio of 9.75, a PEG ratio of 0.85 and a beta of 0.62. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.76 and a quick ratio of 1.83.

Ingredion (NYSE:INGR – Get Free Report) last released its earnings results on Tuesday, May 5th. The company reported $2.34 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.10). Ingredion had a net margin of 9.36% and a return on equity of 15.86%. The business had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same period in the prior year, the company posted $2.97 EPS. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. Ingredion has set its FY 2026 guidance at 10.450-11.150 EPS. Research analysts anticipate that Ingredion Incorporated will post 10.81 earnings per share for the current year.

Ingredion Announces Dividend The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 21st. Investors of record on Wednesday, July 1st were issued a dividend of $0.82 per share. The ex-dividend date was Wednesday, July 1st. This represents a $3.28 dividend on an annualized basis and a yield of 3.2%. Ingredion’s payout ratio is presently 31.60%.

Ingredion Company Profile (Free Report)

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.

Recommended Stories Five stocks we like better than Ingredion RTX and Lockheed Earnings: Can Strong Guidance Reset the Defense Trade? These 4 Earnings Reports Expose the Market’s Growing Economic Divide Broadcom May Be the Biggest Winner From Alphabet’s Earnings Volatility Is Back and These 3 Market Tollbooths Are Best Positioned to Profit Want to see what other hedge funds are holding INGR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ingredion Incorporated (NYSE:INGR – Free Report).

Receive News & Ratings for Ingredion Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ingredion and related companies with MarketBeat.com's FREE daily email newsletter.

« PREVIOUS HEADLINEEntropy Technologies LP Takes Position in ATI Inc. $ATI

NEXT HEADLINE »Fifth Third Bancorp Purchases 13,940 Shares of Atlassian Corporation PLC $TEAM

WESTCHESTER, Ill., June 30, 2026 (GLOBE NEWSWIRE) -- Ingredion Incorporated (NYSE: INGR), a leading global provider of ingredient solutions to the food and beverage industry, today announced that it has completed the sale of a 51% interest in Rafhan Maize, a well-established local manufacturer of food and industrial ingredients to a group of affiliated purchasers lead by Nishat Hotels and Properties Ltd.

Nishat is a leading local operator in Lahore, Pakistan with a proven track record for success in a variety of business sectors including agriculture, textiles and apparel, banking, and hotels and hospitality.

Post-close, Ingredion retains an approximate 20% ownership interest in Rafhan Maize. The purchase price paid to Ingredion was approximately $165 million.

“This transaction continues the transformation of our portfolio and reduces earnings volatility while unlocking investment dollars that can be deployed to support higher-growth businesses,” said Jim Zallie, Ingredion’s chairman, president and CEO. “Retaining a relationship as a minority stakeholder in a strong, well-positioned business also provides continuity of access to Middle East and South Asia markets, which we see as long-term platforms for growth.”

The transaction was announced on September 29, 2025. For the full-year 2025, Ingredion’s business in Pakistan delivered net sales of approximately $250 million (unaudited).

About Ingredion
Ingredion Incorporated (NYSE: INGR), headquartered in the suburbs of Chicago, is a leading global ingredient solutions provider serving customers in more than 120 countries. With 2025 annual net sales of approximately $7.2 billion, the Company turns grains, fruits, vegetables, and other plant-based materials into value-added ingredient solutions for the food, beverage, animal nutrition, brewing and industrial markets. With Ingredion Idea Labs® innovation centers located around the world and more than 11,000 employees, the Company co-creates with customers and fulfills its purpose of bringing the potential of people, nature, and technology together to make life better. Visit ingredion.com for more information and Company news.

Investors: Noah Weiss, 773-896-5242
Media: Rick Wion, 708-209-6323

The proposed offer value is a 64% premium to the London-listed food-and-beverage ingredient company's closing share price Wednesday.

WESTCHESTER, Ill., May 20, 2026 (GLOBE NEWSWIRE) -- Ingredion Incorporated (NYSE: INGR), a leading global provider of ingredient solutions, announced today that its board of directors declared a quarterly dividend of $0.82 per share on the Company’s common stock.

The quarterly dividend will be payable on July 21, 2026, to stockholders of record at the close of business on July 1, 2026.

For more information about Ingredion Incorporated, including investor relations, financial updates and upcoming announcements, visit ir.ingredionincorporated.com.

About Ingredion

Ingredion Incorporated (NYSE: INGR), headquartered in the suburbs of Chicago, is a leading global ingredient solutions provider serving customers in more than 120 countries. With 2025 annual net sales of approximately $7.2 billion, the Company turns grains, fruits, vegetables and other plant-based materials into value-added ingredient solutions for the food, beverage, animal nutrition, brewing and industrial markets. With Ingredion’s Idea Labs® innovation centers around the world and more than 11,000 employees, the Company co-creates with customers and fulfills its purpose of bringing the potential of people, nature and technology together to make life better. Visit ingredion.com for more information and the latest Company news.

CONTACTS:Investors: Noah Weiss, 773-896-5242Media: Rick Wion, 708-209-6323

WESTCHESTER, Ill., May 27, 2026 (GLOBE NEWSWIRE) -- Ingredion Incorporated (NYSE: INGR), a leading provider of ingredient solutions, announced a new milestone, more than 96% of its tier 1 priority crops are now sustainably sourced.

“Five years ago, sustainable sourcing for corn, tapioca, potato, stevia and pulses measured just 25%,” said Larry Fernandes, senior vice president, chief commercial and sustainability officer. “This progress demonstrates that sustainability can scale quickly when it’s embedded into business decisions and operations, not treated as a separate initiative.”

Ingredion follows industry standards for sustainable sourcing that include verified measurement methods to ensure that the crops it buys meet specific environmental and social thresholds in how they were planted, grown, harvested and processed.

“Reaching over 96% sustainably sourced priority crops didn’t happen by setting distant goals; it’s a product of how we work across regions, disciplines and how we partner with growers, suppliers and customers every day,” said Fernandes.

This achievement was published in Ingredion’s 2025 sustainability report “The Power of Us.” The report outlines progress toward the Company’s 2030 sustainability goals under its “All Life” strategy and reinforces the Company’s purpose to bring the potential of people, nature and technology together to make life better.

Additional 2025 sustainability highlights include:

Operational waste: Diverted 95% of total waste from landfills and achieved zero waste to landfills¹ at 16 manufacturing facilitiesHuman rights: Strengthened human rights governance by launching Ingredion’s first stand-alone Human Rights Policy and expanding the All Life Partners (ALP) Responsible Sourcing ProgramNew product launches: Expanded our upcycled ingredients portfolio, one of the fastest-growing areas in consumer sustainability, to now include more than 50 products verified as Upcycled Certified.Sustainable innovation: Launched a new end-to-end sustainable innovation program in 2025 that embeds sustainability tools and measurement from seed science to regenerative agriculture to plant-based packaging.Customer collaboration: Worked with our customers to reduce emissions, reformulate products and improve packaging, helping them deliver on their sustainability commitments without compromising cost, functionality or consumer experience. The full 2025 Sustainability Report is available here.

About Ingredion

Ingredion Incorporated (NYSE: INGR), headquartered in the suburbs of Chicago, is a leading global ingredient solutions provider serving customers in more than 120 countries. With 2025 annual net sales of approximately $7.2 billion, the Company turns grains, fruits, vegetables, and other plant-based materials into value-added ingredient solutions for the food, beverage, animal nutrition, brewing and industrial markets. With Ingredion Idea Labs® innovation centers around the world and more than 11,000 employees, the company co-creates with customers and fulfills its purpose of bringing the potential of people, nature, and technology together to make life better. Visit ingredion.com for more information and the latest Company news.

CONTACT:
Media: Rick Wion, 708-209-6323

_________________________
¹ Ingredion defines Zero Waste as <0.5% of the plant’s solid waste going to landfill or waste incineration without energy recovery.

WESTCHESTER, Ill., June 02, 2026 (GLOBE NEWSWIRE) -- Ingredion Incorporated (NYSE: INGR), a leading global provider of ingredient solutions for the food, beverage and industrial markets, announced the acquisition of Benicaros®, a patented, prebiotic fiber made from upcycled carrot pomace clinically shown to support immune health.

“As we expand our functional ingredients offering, Benicaros’ versatility and health benefits makes it a perfect fit for our portfolio,” said Nate Yates, Ingredion’s vice president & general manager of sugar reduction and fiber fortification. “This highly differentiated prebiotic carrot fiber addresses the limitations of traditional prebiotic fibers that require high daily intake, have tolerance issues and formulation challenges.”

Benicaros stimulates beneficial gut bacteria, resulting in immune health benefits at extremely low dosage. It is water-soluble with minimal effect on taste, texture or odor. This makes it versatile for use in functional foods, beverages, and dietary supplements.

Additionally, Benicaros addresses multiple consumer demands by being plant-based, clean-label, kosher, halal, gluten-free, upcycled and sustainable.

“The benefits list of Benicaros is quite long, and the fact that it comes from upcycling carrot juice production, supporting sustainability and a circular-economy, is all the more exciting,” Yates added.

The acquisition is an asset deal that includes full ownership of all intellectual property, trademarks, human clinical trials, and know-how related to manufacturing the product.

About Ingredion
Ingredion Incorporated (NYSE: INGR), headquartered in the suburbs of Chicago, is a leading global ingredient solutions provider serving customers in more than 120 countries. With 2025 annual net sales of approximately $7.2 billion, the Company turns grains, fruits, vegetables and other plant-based materials into value-added ingredient solutions for the food, beverage, animal nutrition, brewing and industrial markets. With Ingredion’s Idea Labs® innovation centers around the world and more than 11,000 employees, the Company co-creates with customers and fulfills its purpose of bringing the potential of people, nature and technology together to make life better. Visit ingredion.com for more information and the latest Company news.

Media Contact:
Rick Wion
[email protected] 

Creates a scaled global provider of specialty ingredient solutions for a healthier, tastier and more sustainable future of food Broadens Ingredion’s specialty ingredients platform across texturants, sugar reduction, and fortification, adding complementary capabilities in multi-ingredient systems and recipe developmentExpands Ingredion’s ability to address customer needs across a wider range of end use categories and applicationsBrings together complementary geographic supply networks across the Americas, Europe, the Middle East and Africa, and Asia Pacific to deliver faster, more reliable and cost-effective ingredients and solutions for customers and consumers worldwide WESTCHESTER, Ill., June 08, 2026 (GLOBE NEWSWIRE) -- Ingredion Incorporated (NYSE: INGR) (“Ingredion”), a leading global provider of ingredient solutions to the food and beverage and industrial segments, today announced a recommended all-cash offer for the acquisition of Tate & Lyle PLC (“Tate & Lyle”), a global leader in mouthfeel, sweetening and fortification (the “Acquisition”). The transaction implies a total enterprise value of approximately £3.7B ($5.0B), based on the pound sterling to U.S. dollar exchange rate on June 5, 2026.

The Acquisition represents a compelling opportunity to bring together two complementary businesses with a shared commitment to innovation, customer partnership and scientific excellence. Together, the combined group will be better positioned to help customers address evolving consumer needs by delivering products that are nutritious and affordable, with the taste, texture and quality that consumers expect. By combining complementary ingredient portfolios, technical expertise and geographic supply networks, the Acquisition will accelerate Ingredion’s ongoing transformation and enhance its ability to support customers as they address the trends reshaping the global food and beverage industry.

“Combining Ingredion and Tate & Lyle’s complementary portfolios establishes a global leader in ingredient solutions with the innovation expertise and geographic reach that will help create the future of food,” said Jim Zallie, chairman, president and CEO of Ingredion. “The combined business will be better positioned to serve customers’ needs for the development of great-tasting, healthier and affordable food products that consumers demand. This compelling combination will create exciting new possibilities for employees and generate significant value for all stakeholders.”

Commenting on today’s announcement, David Hearn, chair of Tate & Lyle said: “Over the last few years, Tate & Lyle has been successfully repositioned as a leading global specialty food and beverage solutions business aligned to growing consumer demand for healthier, more nutritious and sustainable food and drink. I would like to recognise the exceptional contribution of the team at Tate & Lyle for their talent, insight and commitment which has been a key driver of this transformation and the business we have built. Looking forward, we believe the next chapter with Ingredion will create a business with even greater potential, greater scale, and increased investment in innovation in support of customers. The Board of Tate & Lyle believes Ingredion's offer represents an attractive opportunity for shareholders to crystalise value in cash, and that it will be an excellent steward of Tate & Lyle. The Board therefore unanimously recommends Ingredion's offer to Tate & Lyle’s shareholders.”

Compelling Strategic Rationale

The Acquisition offers strategic, operational and financial benefits, including:

     Bolstering Ingredion’s portfolio and creating significant strategic growth opportunities

Broadens Ingredion’s specialty ingredients platform across texturants, sugar reduction, and fortification.Adds complementary capabilities in multi-ingredient systems and recipe development.Expands Ingredion’s ability to address customer needs across a wider range of end use categories and applications.      Creating a complementary and differentiated portfolio in texture and sugar reduction

Combines Ingredion’s texture and sugar reduction capabilities with Tate & Lyle’s expertise in mouthfeel, sweetening, and fortification.Positions the combined group to better help customers address growing consumer demand for food and beverage products that are safe, high quality, affordable, great tasting, and healthier.      Diversifying Ingredion’s global platform with critical scale in North America, Europe and Emerging Markets

Brings together complementary geographic supply networks across the Americas, Europe, the Middle East and Africa, and Asia Pacific.Delivers faster, more reliable and cost-effective solutions for customers and consumers worldwide.Enhances local market insights to better anticipate regional customer needs and consumer preferences.      Delivering solutions for diverse consumer needs across the value chain

Combines applications expertise, customer-led formulation capabilities and expanded customer-centric data insights to deliver more integrated, higher-value ingredient solutions at an affordable price for end consumers.Enables closer partnership with customers – from concept development through to commercialization – by building cost-effective bespoke ingredient solutions to meet customer needs, and by deepening Ingredion’s innovation and formulation capabilities while accelerating and optimizing speed-to-market.      Enhancing IP and technological capabilities to drive innovation

Unifies two respected brands, each with over a century of history and known for innovation, quality, service, and trust in the ingredients space.Combines complementary IP, technology, talent and applications capabilities to support faster innovation and next-generation ingredient systems development.Enhances the ability to develop systems-based solutions across mouthfeel, sweetening, and fortification, including solutions that support healthier product offerings.      Delivering significant financial benefits and value creation under a prudent financial structure

The integration is expected to deliver significant run-rate net cost synergies of approximately $130 million, which are expected to be fully realized by the end of 2030. The one-time costs to achieve these annual cost savings are expected to amount to approximately $175 million in aggregate by the end of 2030.The Acquisition is expected to be adjusted EPS accretive to Ingredion shareholders in the first year following transaction completion, and is expected to enhance the long-term growth profile and earnings potential of the combined group. Transaction Details

Under the terms of the transaction, Tate & Lyle shareholders will be entitled to receive 595 pence per share, representing an approximate 59% premium to Tate & Lyle’s closing share price as of May 13, 2026. In addition, Tate & Lyle shareholders will be entitled to receive a final dividend in relation to the financial year ended March 31, 2026 of no greater than 13.2 pence per ordinary Tate & Lyle share and an interim dividend in relation to the six-month period ending September 30, 2026 of no greater than 6.8 pence per ordinary Tate & Lyle share.

Ingredion intends to finance the Acquisition through a combination of existing cash resources, new debt financing and, to the extent required, a drawdown on a fully committed bridge financing facility. Ingredion expects pro forma net leverage at completion of the Acquisition to be approximately 3.0x net debt-to-adjusted EBITDA (as calculated under Ingredion’s credit agreements). Ingredion remains committed to maintaining a strong investment-grade credit profile and expects to reduce leverage to approximately 2.5x net debt-to-adjusted EBITDA within approximately 18 months following completion of the transaction.

It is intended that the Acquisition will be implemented by means of a court-sanctioned scheme of arrangement under Part 26 of the United Kingdom Companies Act 2006 (the “Scheme”), although Ingredion reserves the right to effect the Acquisition by way of a takeover offer, subject to the consent of the UK Panel on Takeovers and Mergers and the terms of the co-operation agreement between Ingredion and Tate & Lyle.

Timing and Approvals

Completion of the Acquisition is subject to the satisfaction of various conditions, including, among others, approval by Tate & Lyle shareholders, sanction of the Scheme by the High Court of Justice in England and Wales (the “Court”), and the satisfaction or waiver of the antitrust conditions. The transaction has been unanimously approved by Ingredion’s Board of Directors. Tate & Lyle’s Board of Directors intends to recommend unanimously that the Tate & Lyle shareholders vote in favor of the Scheme at the shareholder meetings to be convened by order of the Court for the purpose of, or on any shareholders’ resolutions prepared with respect to, approving the Scheme and related matters.

Ingredion has received an irrevocable undertaking from Huber Equity Corporation to vote in favor of the Scheme at the meeting of Tate & Lyle shareholders and the resolutions to be proposed at the general meeting of Tate & Lyle shareholders (and if Ingredion, with the consent of the Panel and subject to the terms of the co-operation agreement, subsequently structures the Acquisition as a takeover offer, to accept any takeover offer by Ingredion) in respect of a total of 75,000,000 Tate & Lyle Shares representing, in aggregate, approximately 16.8% of Tate & Lyle’s existing issued ordinary share capital as of June 5, 2026.

Completion of the Acquisition is expected to take place in the second half of 2027.

Investor Presentation and Conference Call

Ingredion management will host a conference call for investors and analysts today at 7 a.m. CT / 8 a.m. ET / 1 p.m. BST to discuss the transaction. A live webcast and accompanying presentation will be available at https://ir.ingredionincorporated.com/events-and-presentations. A replay will be available following the call.

The full terms and conditions of the transaction are set out in the announcement issued today by Ingredion and Tate & Lyle under Rule 2.7 of the UK City Code on Takeovers and Mergers, which is available on Ingredion’s dedicated microsite (https://www.ingredion.com/na/en-us/legal/offer-communications), subject to certain access restrictions. Additional information about the transaction will be made available from time to time on the microsite. Further information about the Rule 2.7 announcement will be provided in Ingredion’s current report on Form 8-K to be filed with the Securities and Exchange Commission.

Advisors

J.P. Morgan Securities LLC is serving as financial advisor to Ingredion, and Hogan Lovells (being Hogan Lovells International LLP and Hogan Lovells US LLP) is serving as legal counsel. Goldman Sachs International and Greenhill & Co. International are serving as joint lead financial advisors to Tate & Lyle and Bank of America and Citi are serving as joint financial advisors and corporate brokers to Tate & Lyle. Linklaters LLP is serving as legal counsel.

Further Information; No Offer or Solicitation

This release is for information purposes and is not intended to and does not constitute, or form part of, an offer, invitation or the solicitation of an offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of any securities, or the solicitation of any vote or approval in any jurisdiction, pursuant to the Acquisition, or otherwise, nor shall there be any sale, issuance or transfer of securities of Tate & Lyle in any jurisdiction in contravention of applicable law. The Acquisition will be made solely by means of a Scheme (or, if the Acquisition is implemented by way of a takeover offer, as such term is defined in the UK Companies Act (the “Takeover Offer”), the offer document), which will contain the full terms and conditions of the Acquisition, including details of how to vote in respect of the Scheme. Any vote in respect of the Scheme or other response in relation to the Acquisition should be made only on the basis of the information contained in the Scheme document (or, if the Acquisition is implemented by way of a Takeover Offer, the offer document). Tate & Lyle shareholders are urged to read the Scheme document when it becomes available, because it will contain important information relating to the Acquisition.

Additional Information

The Acquisition is being made to acquire the shares of an English company by means of a scheme of arrangement provided for under English law. A transaction effected by means of a scheme of arrangement is not subject to the tender offer rules or the proxy solicitation rules under the U.S. Securities Exchange Act of 1934, as amended (“Exchange Act”). Accordingly, the Scheme will be subject to disclosure requirements and practices applicable in the United Kingdom to schemes of arrangement, which are different from the disclosure requirements of the U.S. tender offer and proxy solicitation rules. The financial information included in this release and the Scheme document has been or will have been prepared in accordance with accounting standards applicable in the United Kingdom and thus may not be comparable to financial information of U.S. companies or companies whose financial statements are prepared in accordance with generally accepted accounting principles in the United States. If Ingredion exercises its right to implement the Acquisition by way of a Takeover Offer, such offer will be made in compliance with applicable U.S. laws and regulations.

Forward-Looking Statements

This press release contains or may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act. Ingredion intends these forward-looking statements to be covered by the safe harbor provisions for such statements.

All statements other than statements of historical facts therein are forward-looking statements. Forward-looking statements in this press release include statements about Ingredion’s expected pro forma net leverage and potential synergies and other benefits of the Acquisition, including statements regarding plans, objectives, intentions and expectations in respect of future operations and financial results of the combined group. Forward-looking statements also include, among others, any other statements regarding Ingredion’s prospects and its future operations, financial condition, volumes, cash flows, expenses or other financial items, including management’s plans or strategies and objectives for any of the foregoing and any assumptions, expectations, or beliefs underlying any of the foregoing. These statements can sometimes be identified by the use of forward-looking words such as “may,” “will,” “should,” “anticipate,” “assume,” “believe,” “plan,” “project,” “estimate,” “expect,” “intend,” “continue,” “pro forma,” “forecast,” “outlook,” “opportunities,” “potential,” or other similar expressions or the negative thereof.

These statements are based on current circumstances or expectations, but are subject to certain inherent risks and uncertainties, many of which are difficult to predict and beyond Ingredion’s control. Although Ingredion believes its expectations reflected in these forward-looking statements are based on reasonable assumptions, investors are cautioned that no assurance can be given that Ingredion’s expectations will prove correct.

The following factors relating to the Acquisition, among others, could cause actual results to differ materially from those expressed in or implied by forward-looking statements: the possibility that the Acquisition is not completed when expected or at all because of a failure to satisfy conditions or for other reasons; the risk that the benefits of the Acquisition may not be fully realized or may take longer to realize than expected, including as a result of the risks and uncertainties discussed below; any failure promptly and effectively to integrate the businesses of Ingredion and Tate & Lyle; and the diversion of management’s attention and time to the Acquisition from ongoing business operations and other opportunities.

Additional risks and uncertainties that could cause actual results and developments to differ materially from the expectations expressed in or implied by forward-looking statements include, among others: changes in consumer practices, preferences, price sensitivity, behaviors, demand and perceptions; the impact of geopolitical developments, tensions, threats or conflicts on the availability and prices of raw materials and energy supplies, supply chains and foreign exchange and interest rates; the impact of global business and economic conditions on demand for Ingredion’s products or Ingredion’s access to global credit and equity markets; Ingredion’s reliance on certain industries for a significant portion of Ingredion’s sales; operating difficulties at Ingredion’s manufacturing facilities and liabilities relating to product safety and quality; Ingredion’s ability to keep pace with technological developments in research and development and continue to offer innovative products; competitive pressures that may adversely affect Ingredion’s market share, revenue and profitability; market volatility that may adversely affect Ingredion’s ability to pass through potential increases in the cost of corn and other raw materials to customers, to purchase quantities of corn and other raw materials at prices sufficient to sustain or increase Ingredion’s profitability, or to supply product quantities and meet shipment delivery requirements that Ingredion’s customers demand; the impact on inputs to Ingredion’s procurement, production processes and delivery channels, such as raw materials, energy, and freight and logistics, of price fluctuations, supply chain interruptions, tariffs, duties, and shortages; Ingredion’s ability to contain costs, manage working capital, and achieve budgets, including completion of planned maintenance and investment projects on time and on budget; global climate change and legal, regulatory or market measures to address climate change; Ingredion’s ability to identify and complete acquisitions, divestitures or strategic alliances on favorable terms or achieve anticipated synergies; the economic, political and other risks inherent in conducting operations in foreign countries and with foreign currencies; Ingredion’s ability to maintain satisfactory labor relations; Ingredion’s ability to attract, develop, retain, motivate and maintain good relationships with Ingredion’s workforce, including key personnel; the impact of legal and regulatory proceedings; the risks associated with pandemics; the impact of any impairment charges on intangible assets and goodwill; global and regional economic policies and changes to existing laws and regulations; changes in Ingredion’s tax rates or exposure to additional income tax liabilities; increases in interest rates that could increase Ingredion’s borrowing costs; risks affecting Ingredion’s ability to raise funds at reasonable rates and other factors affecting Ingredion’s access to sufficient funds for future growth and expansion; risks relating to the use of artificial intelligence and other advanced technologies, and Ingredion’s reliance on third-party technology providers; interruptions, security incidents or failures with respect to information technology systems, processes and sites; risks affecting the continuation of Ingredion’s dividend policy; and Ingredion’s ability to maintain effective internal control over financial reporting.

Ingredion’s forward-looking statements speak only as of the date on which they are made, and Ingredion does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of the statement as a result of new information or future events or developments or otherwise. If Ingredion does update or correct one or more of these statements, investors and others should not conclude that it will make additional updates or corrections. For a further description of these and other risks, see “Risk Factors” and other information included in Ingredion’s Annual Report on Form 10-K for the year ended December 31, 2025, and in Ingredion’s subsequent reports on Form 10-Q and Form 8-K filed with the Securities and Exchange Commission.

About Ingredion
Ingredion Incorporated (NYSE: INGR), headquartered in the suburbs of Chicago, is a leading global ingredient solutions provider serving customers in more than 120 countries. With 2025 annual net sales of approximately $7.2 billion, Ingredion turns grains, fruits, vegetables and other plant-based materials into value-added ingredient solutions for the food, beverage, animal nutrition, brewing, pharmaceutical and industrial markets. With Ingredion’s Idea Labs® innovation centers around the world and more than 11,000 employees, Ingredion co-creates with customers and fulfills its purpose of bringing the potential of people, nature and technology together to make life better. Visit ingredion.com for more information and the latest Ingredion news.

About Tate & Lyle PLC:  

Supported by over 165-years of ingredient innovation, we partner with customers to provide consumers with healthier and tastier choices when they eat and drink. We are proud that millions of people around the world consume products containing our ingredients and solutions every day.  

Through our leading expertise in sweetening, mouthfeel and fortification, we develop ingredients and solutions which reduce sugar, calories and fat, add fibre and protein, and provide texture and stability to food and drink in categories including beverages, dairy, bakery, snacks, soups, sauces, and dressings.   

Tate & Lyle has approximately 5,000 employees working in around 70 locations in 37 countries, serving customers in more than 120 countries. Science, Solutions, Society is our brand promise and how we will achieve our purpose of Transforming Lives through the Science of Food. By living our purpose, we believe we can successfully grow our business and have a positive impact on society. We live our purpose in three ways, by supporting healthy living, building thriving communities and caring for our planet.  

Tate & Lyle is listed on the London Stock Exchange under the symbol TATE.L. American Depositary Receipts trade under TATYY. For the year ended 31 March 2026 Tate & Lyle revenue from continuing operations totalled £2.0 billion. For more information, please visit www.tateandlyle.com or follow Tate & Lyle on LinkedIn, X (Twitter), Facebook or YouTube.

Contacts:

Media Relations:

In the U.S.:
Jayne Rosefield / Dave Carlson
+1 312 800 8120

In the U.K.:
Charles Pretzlik / Ed Brown / David Blackburn
+44 20 7404 5959

[email protected]

Investor Relations:

Noah Weiss, 773-896-5242

Editor’s Note: The future prices of benchmark tracking ETFs, and the headline were updated in the story.

U.S. stock futures rose on Monday, as the Nasdaq 100 and S&P 500, and Dow Jones indices rose, following Thursday's sharp declines.

Additionally, this week, investors will be eyeing May’s CPI and PPI data.

Meanwhile, the 10-year Treasury bond yielded 4.58%, and the two-year bond was at 4.19%. The CME Group's FedWatch tool‘s projections show markets pricing a 98% likelihood of the Federal Reserve leaving the current interest rates unchanged during June’s meeting.

IndexPerformance (+/-)Dow Jones0.26%S&P 5000.72%Nasdaq 1001.31%Russell 20001.34%Stocks In FocusRiskified Riskified Ltd. (NYSE:RSKD) was 1.26% higher in premarket on Monday after it disclosed a $75 million buyback plan. Benzinga’s Edge Stock Rankings indicate that RSKD maintains a weak price trend in the long term but a strong trend in the medium and short terms. Nebius Group Nebius Group NV (NASDAQ:NBIS) was 2.11% higher after it announced a announced a $2.3 billion or £1.7 billion investment to build out four AI data center sites in the UK. Benzinga’s Edge Stock Rankings indicate that NBIS maintains a strong price trend in the short, long, and medium terms, with a poor value score. Ingredion Ingredion Inc. (NYSE:INGR) was 1.95% higher as Tate & Lyle agreed to £2.7 billion or $3.6 billion takeover by INGR. Benzinga’s Edge Stock Rankings indicate that INGR maintains a weak price trend in the long, short, and medium terms, with a solid growth score. Advanced Micro Devices Advanced Micro Devices Inc. (NASDAQ:AMD) was 1.81% higher as it announced a £2 billion or $2.66 billion investment in the UK to enhance AI research, infrastructure, and workforce development over five years. Benzinga’s Edge Stock Rankings indicate that AMD maintains a strong price trend in the long, medium, and short terms, with good quality score. Benzinga’s Edge Stock Rankings indicate that SKM maintains a strong price trend in the short, long, and medium terms, with a poor growth score. Cues From Last SessionSectors on the S&P 500 closed mixed on Friday as consumer staples, utilities, real estate, health care, and financial rose, while information technology, consumer discretionary, material, energy, communication services, and industrials fell.

Insights From AnalystsA historic two-month surge in the S&P 500 has triggered a rare, historically flawless bullish signal pointing to massive year-ahead gains.

The S&P 500 recently logged an explosive 19.5% advance over two months. According to Carson Group's Ryan Detrick, this is “one of the best two-month rallies ever”.

Data shows this has only happened seven other times since 1950, and stocks were “never lower 1 month, 3 months, 6 months, or a year later”. Instead, they averaged a massive 40% gain a year later. Looking at the data, Detrick noted, “My oh my”.

Though the S&P 500 just fell 2.6% for its “worst day of the year so far”, Detrick urges calm. “Good time to remember that even the best years have a bad day or two (or more)”, he posted, noting that 22 times the index gained 20% in a year, the average worst day was 3.5%.

Market health remains resilient. Even with a 2.5% weekly drop, “6 sectors were green and more stocks on the S&P 500 gained than fell last week”. History proves temporary volatility rarely derails historic bull runs; in 1997, the index fell nearly 7% in a day but still “gained more than 30% for the year.”

Upcoming Economic DataHere's what investors will be keeping an eye on this week.

Commodities, Crypto, And Global Equity MarketsCrude oil futures were trading lower in the early New York session by 4.37% to hover around $94.50 per barrel.

Gold Spot US Dollar fell 0.93% to hover around $4,288.99 per ounce. Its last record high stood at $5,595.46 per ounce. The U.S. Dollar Index spot was 0.08% higher at the 100.1480 level.

Meanwhile, Bitcoin (CRYPTO: BTC) was trading 0.51% higher at $63,145.40 per coin, as per the last 24 hours.

Asian markets closed lower on Monday, as Hong Kong's Hang Seng, India’s Nifty 50, Japan's Nikkei 225, Australia's ASX 200, South Korea's Kospi, and China’s CSI 300 indices fell. European markets were also lower in early trade.

Photo courtesy: Shutterstock

Market News and Data brought to you by Benzinga APIs

© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

To add Benzinga News as your preferred source on Google, click here.

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades, downgrades and initiations, please see our analyst ratings page.

Considering buying INGR stock? Here’s what analysts think:

Photo via Shutterstock

Market News and Data brought to you by Benzinga APIs

© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

To add Benzinga News as your preferred source on Google, click here.