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FY26 consensus $11.33. This guidance reflects tariff levels in effect as of the end of April 2026. In addition, this guidance excludes any acquisition-related integration and restructuring costs, as well as any potential impairment costs. The company now expects full-year 2026 net sales to be flat to up low single-digits, reflecting volume growth, partially offset by lower price mix. The 2026 full-year outlook further assumes the following: Texture & Healthful Solutions operating income is now expected to be up low single-digits, driven by sales volume growth, partially offset by expected higher input cost inflation; Food & Industrial Ingredients-LATAM operating income is now expected 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 low double-digits driven by Argo's operational headwinds in the first quarter; and All Other operating income is still anticipated to improve by $5 to $10 million from the prior year. Corporate costs for full-year 2026 are now expected to be flat.

Q2 consensus $1.85B. For the second quarter of 2026, compared to the same quarter last year, the Company expects net sales to be flat to up low single-digits. Reported operating income is expected to be down high double-digits and adjusted operating income is expected to be down high single-digits, which reflect the challenging comparison to the prior year's strong results.

Reports Q1 revenue $1.79B, consensus $1.79B. "While we expected a challenging first quarter after last year's strong first quarter, results were weaker than anticipated in Food & Industrial Ingredients-U.S./CAN due to operational challenges at our Argo facility," said Jim Zallie, chairman, president and CEO of Ingredion. "At the same time, performance in our Texture & Healthful Solutions and Food & Industrial Ingredients-LATAM segments were in line with our expectations despite an increasingly uncertain macroeconomic environment."