Ingredion

Q2 FY2026 EarningsQ2 FY26 revenue of $1.85B slightly exceeded the consensus of $1.83B (+0.88%), driven by strong volume growth in Texture & Healthful Solutions (T&HS). However, profitability significantly missed expectations: gross margin was 23.0% vs. 24.8% expected, and GAAP diluted EPS was $1.78 vs. $2.49 expected. The bottom-line miss was primarily due to $47M in non-operating FX hedging losses related to the pending $3.5B Tate & Lyle acquisition and $45M in restructuring charges from the Brazil facility closure, which overshadowed a $44M gain from the Pakistan business divestiture.