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Ingredion Incorporated is a global ingredient solutions provider that transforms grains, fruits, vegetables, and other plant-based materials into value-added ingredients and biomaterials. The company serves diverse industries, including food, beverage, animal nutrition, brewing, pharmaceutical, and industrial markets. Ingredion's product portfolio includes starches, sweeteners, co-products, and specialty ingredients designed to meet customer demands for healthful, sustainable, and innovative solutions.
- Starch Products - Produces food-grade and industrial starches, modified and specialty starches, biomaterials, and starch-based pharmaceutical excipients.
- Sweetener Products - Offers glucose syrups, high maltose syrups, high fructose corn syrup, dextrose, polyols, maltodextrins, and syrup solids.
- Co-products and Others - Includes animal feed products, edible corn oil, stevia sweeteners, caramel color, protein fortification ingredients, gum acacia, pea protein, and fruit and vegetable concentrates.
- The protein fortification business remains loss-making despite anticipated improvements; can you provide specific details on your turnaround plan over the next 1 to 3 years and the key milestones you expect to achieve to reach profitability?
- In the Texture and Healthful Solutions segment, while volume growth is strong, there's a notable decline in price/mix; are you lowering prices to drive volume, and how sustainable is this strategy for your margins in the long term?
- With 2025 sweetener contracting moving slower and corn prices fluctuating, how confident are you in maintaining or improving pricing, and what risks do you foresee that could impact your margins in this area?
- You've attributed earnings improvement to structural changes from your global operating model; can you quantify the savings realized so far and elaborate on how much additional improvement you expect in the coming years?
- Given your strong cash flow and balance sheet, are you considering larger, transformative acquisitions to accelerate growth in Texture and Healthful Solutions, and how do you reconcile this with your commitment to return cash to shareholders?