Ingredion narrows FY25 adjusted EPS view to $11.10-$11.60 from $10.90-$11.60

FY25 consensus $11.31. This guidance reflects tariff levels in effect as of the end of July 2025. 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 2025 net sales to be flat, reflecting volume growth in T&HS, offset by lower price mix on pass through of lower raw material costs and expected foreign exchange impacts. Reported and adjusted operating income are both expected to be up mid-single-digits for full-year 2025. The 2025 full-year outlook further assumes the following: Texture & Healthful Solutions operating income is now expected to be up low double-digits, driven by sales volume growth; Food & Industrial Ingredients-LATAM operating income is now expected to be up low single-digits; Food & Industrial Ingredients-U.S./CAN operating income is expected to be down low single-digits; and All Other operating income is still anticipated to approach breakeven profitability. Corporate costs for full-year 2025 are expected to be up high single-digits, driven by IT investments and project related costs to advance our digital infrastructure. For full-year 2025, the company expects both a reported and adjusted effective tax rate of 26.0% to 27.5%.