Ingredion (INGR) Q3 FY2026 earnings: revenue $1.8 billion, down 1.3% on the year

Ingredion Inc. (INGR) reported revenue of $1.8 billion for Q3 FY2026, the quarter ended 30 September 2026, down 1.3% on the same quarter a year earlier. Net income was $142 million, down 17.0% on the year, and diluted earnings per share $2.23. The figures are the company's own, from the 10-Q it filed with the SEC on 6 November 2026.

Revenue

$1.8 billion

-1.3% on the year · -3.1% on the quarter

Q4 FY2024Q3 FY2026

Operating margin

11.2%

13.7% a year earlier

Q4 FY2024Q3 FY2026

Net income

$142 million

-17.0% on the year · +24.6% on the quarter

Q4 FY2024Q3 FY2026

Diluted EPS

$2.23

-14.6% on the year · +25.3% on the quarter

Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 7 lowered, 1 new, 4 kept.

Operating income fell 19%: Reported operating income was $201 million and adjusted operating income $206 million, both down 19% from the prior year. Excluding foreign exchange, both were down 21%.
Diluted EPS fell 15%: Reported diluted EPS was $2.23 against $2.61, and adjusted diluted EPS was $2.28 against $2.75. Net sales were $1,792 million, down 1%, and down 3% excluding foreign exchange.
U.S./CAN operating income down 36%: F&II - U.S./CAN net sales were $504 million, down 1%, and flat excluding foreign exchange. Segment operating income was $52 million against $81 million.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Revenue	1,792	1,850	1,816	-3.1%	-1.3%
Cost of revenue	1,393	1,424	1,361	-2.2%	+2.4%
Gross profit	399	426	455	-6.3%	-12.3%
Gross margin	22.3%	23.0%	25.1%
Operating income	201	188	249	+6.9%	-19.3%
Operating margin	11.2%	10.2%	13.7%
Pre-tax income	194	175	241	+10.9%	-19.5%
Income tax	52.0	59.0	69.0	-11.9%	-24.6%
Effective tax rate	26.8%	33.7%	28.6%
Net income	142	114	171	+24.6%	-17.0%
Net margin	7.9%	6.2%	9.4%
Diluted EPS	$2.23	$1.78	$2.61	+25.3%	-14.6%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Operating cash flow	266	90.0	277	+195.6%	-4.0%
Capital expenditure	103	100	105	+3.0%	-1.9%
Free cash flow	163	-10.0	172		-5.2%
Free cash flow margin	9.1%	-0.5%	9.5%
Cash from investing	-67.0	-2.0	-87.0
Cash from financing	-157	-53.0	-136
Depreciation and amortisation	55.0	55.0	57.0	0.0%	-3.5%
Share-based compensation	7.0	8.0	9.0	-12.5%	-22.2%
Dividends paid	53.0	53.0	51.0	0.0%	+3.9%
Dividend per share	$0.83	$0.82	$0.82	+1.2%	+1.2%
Diluted shares, weighted	64m	64m	65m	-0.3%	-2.6%
Shares outstanding at period end	62m	63m	64m	-1.2%	-2.0%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Shareholders' equity	4,553	4,524	4,238	+0.6%	+7.4%
Non-controlling interest	n/a	n/a	21.0
Redeemable equity	56.0	49.0	58.0	+14.3%	-3.4%
Debt	1,775	1,783	1,798	-0.4%	-1.3%
Other liabilities	1,743	1,714	1,718	+1.7%	+1.5%
Total liabilities and equity	8,127	8,070	7,833	+0.7%	+3.8%
Fixed assets	2,560	2,521	2,435	+1.5%	+5.1%
Goodwill	917	917	921	0.0%	-0.4%
Intangible assets	330	337	n/a	-2.1%
Securities held for sale or to maturity	25.0	28.0	n/a	-10.7%
Cash and equivalents	989	948	915	+4.3%	+8.1%
Receivables	1,346	1,386	1,312	-2.9%	+2.6%
Inventory	1,151	1,109	1,225	+3.8%	-6.0%
Other assets	809	824	1,025	-1.8%	-21.1%
Total assets	8,127	8,070	7,833	+0.7%	+3.8%

Questions

What was Ingredion's revenue in Q3 FY2026?

Ingredion (INGR) reported revenue of $1.8 billion for Q3 FY2026, the quarter ended 30 September 2026, down 1.3% on the same quarter a year earlier.

How much did Ingredion earn in Q3 FY2026?

Net income for Q3 FY2026 was $142 million, down 17.0% on the year, and diluted earnings per share $2.23.

When did Ingredion report Q3 FY2026 results?

Ingredion filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 6 November 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	1,755	1,892	2,044	2,023	1,987	2,137	2,069	2,033	1,921	1,882	1,878	1,870	1,800	1,813	1,833	1,816	1,757	1,792	1,850	1,792
Cost of revenue	1,465	1,513	1,654	1,649	1,636	1,650	1,628	1,612	1,521	1,465	1,432	1,391	1,351	1,347	1,356	1,361	1,327	1,391	1,424	1,393
Gross profit	290	379	390	374	351	487	441	421	400	417	446	479	449	466	477	455	430	401	426	399
Gross margin	17%	20%	19%	18%	18%	23%	21%	21%	21%	22%	24%	26%	25%	26%	26%	25%	24%	22%	23%	22%
Operating income	86.0	210	213	182	157	291	251	213	202	213	240	268	162	276	271	249	220	203	188	201
Operating margin	5%	11%	10%	9%	8%	14%	12%	10%	11%	11%	13%	14%	9%	15%	15%	14%	13%	11%	10%	11%
Pre-tax income	78.0	187	196	161	124	259	219	185	176	276	230	273	152	267	259	241	207	194	175	194
Tax rate	13%	29%	26%	32%	7%	25%	25%	14%	24%	21%	35%	31%	36%	25%	24%	29%	19%	26%	34%	27%
Net income	67.0	130	142	106	114	191	163	158	131	216	148	188	95.0	197	196	171	165	142	114	142
Net margin	4%	7%	7%	5%	6%	9%	8%	8%	7%	11%	8%	10%	5%	11%	11%	9%	9%	8%	6%	8%
Diluted EPS	$0.99	$1.92	$2.12	$1.59	$1.71	$2.85	$2.42	$2.36	$1.97	$3.23	$2.22	$2.83	$1.43	$3.00	$2.99	$2.61	$2.56	$2.22	$1.78	$2.23
Operating cash flow	133	-52.0	48.0	84.0	72.0	-51.0	330	368	410	209	312	479	436	77.0	185	277	405	33.0	90.0	266
Capital expenditure	97.0	85.0	59.0	59.0	97.0	76.0	78.0	79.0	83.0	65.0	55.0	50.0	131	92.0	101	105	135	110	100	103
Free cash flow	36.0	-137	-11.0	25.0	-25.0	-127	252	289	327	144	257	429	305	-15.0	84.0	172	270	-77.0	-10.0	163
Dividends paid	46.0	43.0	47.0	43.0	48.0	47.0	48.0	48.0	51.0	51.0	53.0	52.0	54.0	52.0	54.0	51.0	54.0	52.0	53.0	53.0
Shares outstanding	67m	66m	66m	66m	66m	66m	66m	65m	65m	66m	65m	65m	64m	64m	64m	64m	63m	63m	63m	62m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 September 2026, filed 6 November 2026: the filing.