Ingredion Incorporated (INGR) Earnings Call Transcripts
Ingredion Incorporated's Latest Earnings Call - June 8, 2026
In the second quarter of fiscal year 2026, Ingredion Incorporated announced a significant acquisition of Tate & Lyle, which is expected to transform the company into a global leader in ingredient solutions. The acquisition is valued at approximately $5 billion, with Tate & Lyle generating $2.7 billion in revenue and $570 million in adjusted EBITDA for the fiscal year. Management expects the combined entity to achieve $10 billion in revenue and an adjusted EBITDA margin of 18.1%, with a projected run rate net cost synergy opportunity of $130 million by 2030, signaling a strong growth trajectory and enhanced operational efficiency.
Reported metrics
| Metric | Value |
|---|---|
| Revenue | $10B (positive) |
| Adjusted EBITDA | $1.8B (positive) |
| Adjusted EBITDA Margin | 18.1% (positive) |
| Acquisition Value | $5B (positive) |
| Cost Synergies | $130M (positive) |
| One-time Cash Costs | $175M (negative) |
Guidance from management
Management expects the acquisition to be more than 15% accretive to adjusted EPS in the first full calendar year following the acquisition, with improved free cash flow conversion.
What management said
And the only thing that I would add to what Jason said is that, again, everything that we've identified are run rate cost synergies, and we have not factored in any revenue synergies.
And to your point about potential upside, obviously, as this is what we've identified in the initial phases of the work. So as we continue to move forward with the integration, we'll obviously be looking for other opportunities to identify additional.
What analysts pressed on
Analysts expressed concerns regarding the regulatory approval process and potential overlap issues. There were questions about the trajectory of Tate & Lyle's business fundamentals and how the integration might affect financial metrics in the near term.
Main topics on the call
- Acquisition of Tate & Lyle — Ingredion announced a recommended all-cash offer for Tate & Lyle, valued at approximately $5 billion, which represents an acquisition multiple of 8.8x full year 2026 adjusted EBITDA. CEO Jim Zallie stated, "This compelli...
- Revenue and EBITDA Projections — The combined company is expected to generate approximately $10 billion in revenue and $1.8 billion in adjusted EBITDA, representing an 18.1% margin prior to integration and synergies. Management emphasized that "more tha...
- Cost Synergies and Integration — Management identified approximately $130 million in annual run rate net cost synergies expected by 2030, with $175 million in one-time cash costs to achieve these synergies. Jason Payant noted, "We haven't identified any...
- Financial Discipline and Leverage — Post-acquisition, Ingredion expects to maintain a leverage ratio of approximately 3x net debt to adjusted EBITDA, with a target to reduce it to 2.5x within 18 months. Zallie stated, "We are committed to maintaining a str...
Read the full Ingredion Incorporated transcript (June 8, 2026) → Summary generated from the call transcript; every figure above is stated by management on the record.
About Ingredion Incorporated
Ingredion Incorporated (INGR) is a publicly listed company in the Food Products industry, within the Consumer Staples sector. It trades on NYSE and is based in US. EarningsCalls.dev maintains a free, full-text archive of its earnings call transcripts — 46 calls on record spanning February 11, 2020 to August 4, 2026. Every transcript is split into speaker-by-speaker segments with headline metrics, free to read or available through our REST API.
Earnings Call History
EarningsCalls.dev has 46 Ingredion Incorporated earnings call transcripts on record, spanning February 11, 2020 to August 4, 2026. Based on this history, Ingredion Incorporated reports quarterly. The most recent call on file is dated August 4, 2026. The full list is below — each row opens the complete, free-to-read transcript.
- Ticker
- INGR
- Exchange
- NYSE
- Country
- US
- Sector
- Consumer Staples
- Industry
- Food Products
- Calls on record
- 46
- First call
- February 11, 2020
- Most recent
- August 4, 2026
- Reporting cadence
- quarterly