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Ingredion . Be what's next .. Ingredion Incorporated 5 Westbrook Corporate Center Westchester , IL 60154 NEWS RELEASE CONTACTS : Investors : Tiffany Willis , 708-551-2592 Media : Becca Hary , 708-551-2602 • • • INGREDION INCORPORATED REPORTS FIRST QUARTER 2021 RESULTS First quarter 2021 reported and adjusted EPS * were $ ( 3.66 ) and $ 1.85 , respectively , compared to first quarter 2020 reported and adjusted EPS of $ 1.11 and $ 1.59 , respectively . Double - digit adjusted EPS growth reflects specialties ingredients momentum and strong execution across the Company's regions . Related to the Arcor joint venture announcement , reported results reflect a $ 360 million held for sale impairment charge , including $ 311 million of cumulative translation losses . The Company expects second quarter 2021 net sales and operating income to be up significantly due to volume recovery and specialties growth when compared to the second quarter of 2020 . WESTCHESTER , III . , May 4 , 2021 – Ingredion Incorporated ( NYSE : INGR ) , a leading global provider of ingredient solutions to the food and beverage manufacturing industry , today reported results for the first quarter of 2021. The results , reported in accordance with U.S. generally accepted accounting principles ( “ GAAP ” ) for 2021 and 2020 , include items that are excluded from the non - GAAP financial measures that the Company presents . " We delivered an outstanding first quarter with significant net sales and adjusted operating income growth , our best quarter since 2018. Operating income grew across all four regions , and our results reflect exceptionally strong performance in South America and Asia - Pacific , " said Jim Zallie , Ingredion's president and chief executive officer . " We continued to execute on our Driving Growth Roadmap , delivering specialty ingredients growth that was underpinned by double - digit growth in Asia - Pacific and South America . As a result of our unwavering determination to expand our consumer preferred specialty offerings , our sugar reduction sales were up over 200 percent versus prior year . Additionally , we recently broadened our Food Systems platform with the acquisition of KaTech , an innovative supplier of customized ingredient blends which enhance texture and provide stabilization . KaTech adds a European hub to complement our existing U.S. and Asia food systems ' operations , ” continued Zallie . " We are actively engaged in new product development through our strong customer partnerships with robust project pipelines to meet resurging consumer demand . We remain focused on delivering consumer preferred innovation through customer co - creation . As we re - imagine the future of work for our employees , we are doing so with customer centricity , speed and agility , " Zallie concluded .