07/08/2020 | Ingredients

Ingredion’s net sales slump

Ingredion has released its results for the second quarter of this year, highlighting how it has managed to pivot its business with virtual solutions to adjust to fluctuations in consumer demand due to Covid-19. Q2 and year-to-date net sales were down from the year-ago period, primarily driven by sales volume declines in North and South America.

In South America, the company’s reported and adjusted operating income for the quarter were USD 113 m and USD 127 m, respectively, decreases of 33 % and 29 %, respectively, compared to last year’s period. The decreases were largely attributable to North and South America. Excluding foreign exchange impacts, reported and adjusted operating income were down 29 % and 25 %, respectively, from the same period last year.