Ingredion reports Q2 adjusted EPS $2.87, consensus $2.49

Reports Q2 revenue $1.88B, consensus $1.98B. “In Q2, Ingredion achieved significant growth, led by Texture & Healthful Solutions, which experienced 8% sales volume growth year over year,” stated CEO Jim Zallie. “Additionally, our Food & Industrial segments were well positioned to respond to robust customer demand and delivered exceptionally strong profit growth. In the quarter, we also deployed strategic capital to support future organic growth in texture solutions, and in line with our sugar reduction strategy, we further increased our ownership in PureCircle to 98%. Our organization is benefiting from our new segments as we increasingly leverage our global operating model and drive innovative ways to strengthen customer engagements for future growth. Our Driving Growth Roadmap continues to guide our strategic actions to create long-term shareholder value. Last quarter marked the launch of our Cost2Compete program, aimed at achieving $50M in run-rate savings by the end of 2025. Our initiatives to date have realized $18M in run-rate savings, which will provide additional leverage for the remainder of the year”.