Our record results in 2025 highlight the power of our portfolio and the value of the resegmentation we undertook in 2024. The continued strength of our Texture & Healthful Solutions segment, combined with solid results from our Food & Industrial Ingredients—LATAM business, led to all-time highs in adjusted operating income and earnings per share.
While navigating a challenging business environment, we delivered record gross profit and expanded margins to 25%—a clear testament to our agility and operational discipline. This performance reflects our ability to leverage our local manufacturing network, adapt quickly to shifting demand and focus on higher-value solutions.
These factors led to a 1% year-over-year increase in adjusted operating income to $1 billion and a 4.5% year-over-year increase in adjusted diluted earnings per share to $11.13. Full-year cash from operations reached $944 million. We returned $435 million to shareholders through share repurchases and dividends, including our repurchase of $224 million of outstanding common shares, more than the target we set at the beginning of the year.
Gross profit margin percent
We are creating new opportunities for texturization by expanding our solutions portfolio and meeting increased consumer demand for clean-label ingredients. This resulted in the Texture & Healthful Solutions segment posting its seventh straight quarter of sales volume growth in the last quarter of 2025, while operating income for the year increased 16% to $405 million.
Ingredion continues to be a leader in the fast-growing clean label space due to the breadth of our offerings, supported by proprietary technology, patents, consumer insights and years of formulation expertise.
Against a backdrop of regional, economic and political volatility, our Food & Industrial Ingredients—LATAM team managed to deliver record operating income and operating income margins of greater than 21%, up 140 basis points.
In pursuit of more profitable growth, Mexico repurposed a portion of its capacity to strategically diversify its customer and product mix towards higher-margin ingredients serving food and confectionery customers, resulting in another strong year of operating income growth. In addition, we successfully completed a complex local manufacturing network optimization in Brazil to support long-term cost competitiveness.
Our Food & Industrial Ingredients—U.S./CAN segment saw a 7% decrease in net sales for the year, primarily driven by ongoing production challenges at our Argo facility. Despite these headwinds, the segment delivered operating income margins above 15% for the year.
At Ingredion, our three strategic pillars—profitable growth, innovation and operational excellence—drive our performance. This year, we made significant strides in each one.
We have been working diligently in recent years to optimize our protein fortification business—and these efforts have paid off. In 2025, we posted record net sales exceeding 40%. We doubled production and were able to increase the average selling price through new product innovation. Supported by strong and clear consumer demand, we expect protein fortification to become a long-term growth opportunity.
We continue to pursue innovation that helps customers impacted by ingredient shortages and higher costs. For example, our suite of solutions to replace cocoa in product reformulations have seen steady sales increases throughout 2025.
Finally, we are pleased to report that our Cost2Compete initiative, a two-year cost-savings program that ended in 2025, delivered $59 million of run-rate savings, exceeding our target of $50 million. This achievement reflects our ability to optimize across our manufacturing network as well as leverage our scale to deliver procurement and SG&A savings.
Our success this year starts with our 11,000 employees worldwide. Their dedication helped deliver on the potential of our resegmentation while their creativity and resilience helped us navigate multiple unforeseen challenges. I would like to especially recognize Jim Gray, who retired after more than nine years as CFO. He has been an invaluable partner to me and has made significant contributions to our success.
I would also like to thank our shareholders for their continued trust in Ingredion and extend my appreciation to our board of directors for their guidance and support. As I look ahead to 2026, I am confident that the company will continue to capitalize on growth opportunities guided by our winning aspiration—to make healthy taste better.
Sincerely,
James P. Zallie CHAIRMAN, PRESIDENT AND CHIEF EXECUTIVE OFFICER
