Ingredion Incorporated Reports 2025 Fourth Quarter and Full-Year Results

Core Insights - Ingredion Incorporated reported record full-year financial results for 2025, driven by strong performance in Texture & Healthful Solutions and the LATAM segment, despite challenges in the U.S./CAN business [2][5]. Financial Performance - Reported diluted EPS for full-year 2025 was $11.18, up from $9.71 in 2024, while adjusted diluted EPS was $11.13 compared to $10.65 in 2024 [3][5]. - Cash from operations for 2025 was $944 million, down from $1,436 million in 2024, with $435 million returned to shareholders, including $224 million in share repurchases [5][28]. - The company expects full-year 2026 reported and adjusted EPS to be in the range of $11.00 to $11.80 [22]. Segment Performance - Texture & Healthful Solutions achieved 4% sales volume growth in Q4 2025, driven by demand for clean label offerings, with full-year net sales of $2,397 million, a 1% increase from 2024 [11][12]. - Food & Industrial Ingredients—LATAM segment reported a 1% increase in Q4 2025 net sales, with full-year sales of $2,341 million, down 4% from 2024 [13][14]. - Food & Industrial Ingredients—U.S./Canada experienced a 9% decline in Q4 2025 net sales, with full-year sales of $2,013 million, a 7% decrease from 2024 [15][16]. Operating Income - Reported operating income for Q4 2025 was $220 million, a 36% increase from Q4 2024, while adjusted operating income was $228 million, down 8% [9][12]. - Full-year reported operating income was $1,016 million, a 15% increase from 2024, while adjusted operating income was $1,028 million, up 1% [9][12]. Shareholder Returns - The company paid $211 million in dividends for 2025 and declared a quarterly dividend of $0.82 per share [21]. - Share repurchases totaled 1.8 million shares at a net cost of $224 million during 2025 [21]. 2026 Outlook - The company anticipates low single-digit to mid-single-digit growth in net sales for 2026, with operating income expected to increase low single-digits [23][24]. - Corporate costs for 2026 are expected to remain flat to increase low single-digits, with effective tax rates projected between 25.5% to 27.0% [25].