Welcome to our dedicated page for Ingevity news (Ticker: NGVT), a resource for investors and traders seeking the latest updates and insights on Ingevity stock.
Ingevity Corporation (NYSE: NGVT) is a specialty materials and chemical manufacturer that reports its operations through three segments: Performance Materials, Advanced Polymer Technologies and Performance Chemicals. News about NGVT often centers on how these businesses evolve, how the portfolio is being reshaped and how the company’s products are used in demanding applications such as adhesives, agrochemicals, asphalt paving, certified biodegradable bioplastics, coatings, elastomers, pavement markings, lubricants, oil drilling and automotive components.
Investors following Ingevity news can expect frequent updates on segment performance, portfolio actions and strategic direction. Recent announcements include the agreement and subsequent completion of the sale of the North Charleston crude tall oil refinery and the majority of the Performance Chemicals Industrial Specialties product line to Mainstream Pine Products, LLC. The company has characterized this divestiture as a way to reduce portfolio volatility, strengthen margins and cash flow and focus on higher-margin specialty applications in activated carbon and pavement or road technologies.
Ingevity has also reported on its portfolio review process and its decision to explore strategic alternatives for the Advanced Polymer Technologies segment and the Performance Chemicals Road Markings business, including potential sales. Leadership changes at the segment and corporate level, such as appointments in finance, operations and Performance Materials, are another recurring theme in company press releases and SEC filings.
In addition, NGVT news has highlighted Ingevity’s role in emerging battery materials through a license agreement with CHASM Advanced Materials for carbon nanotube conductive additives used in battery applications in North America and select European countries. Earnings releases provide detail on segment sales, adjusted EBITDA, cash flow and guidance ranges, giving context on how strategic initiatives and market conditions affect the company’s financial profile. For investors and observers, the NGVT news stream offers insight into how Ingevity is repositioning its portfolio, managing its segments and pursuing opportunities in specialty chemicals and materials.
Ingevity (NYSE: NGVT) highlights the advantages of its Nuchar® AG activated carbon technology for grass farming applications through a new video. The product enhances crop yield by protecting seedlings from excess herbicides during planting. Valley Agronomics, a supplier of herbicides, reports that Nuchar AG leads to faster application and significantly reduces crop injury by up to 85%. Testing conducted by an agricultural research firm confirms Nuchar AG's superior performance, helping farmers in regions like Oregon’s Willamette Valley.
Ingevity Corporation (NYSE: NGVT) has partnered with the City of Orlando to implement a demonstration program for adsorbed natural gas (ANG) bi-fuel vehicle technology. Orlando will integrate two ANG-equipped Ford F-150 trucks into its fleet to evaluate fuel savings and greenhouse gas (GHG) emissions reduction. ANG technology significantly lowers natural gas storage pressure, facilitating cost-effective fueling solutions. ANG vehicles can reduce GHG emissions by 25% compared to traditional fuels, and up to 125% with renewable natural gas. This initiative aligns with Orlando's commitment to sustainable energy.
Ingevity Corporation (NYSE: NGVT) is expanding its caprolactone polyol production capabilities at its DeRidder, Louisiana facility. This upgrade aims to increase global production capacity by 40% to meet rising demand for Capa® technologies used in industrial equipment and automotive applications. Construction is set to begin in summer 2021, with operations expected to commence in Q1 2022. The enhancements will improve supply chain efficiency and overall customer service while reinforcing Ingevity's commitment to innovation in the Engineered Polymers sector.
Ingevity Corporation (NYSE: NGVT) has announced the election of Jean Blackwell as the new chair of the board, following the death of former Chairman Richard B. Kelson on February 13, 2021. Blackwell, a board member since 2016, brings extensive experience, having held multiple leadership roles at Cummins Inc. and served on various corporate boards. Her appointment is expected to enhance leadership stability and strategic direction for Ingevity, particularly in its performance chemicals and materials segments, which focus on sustainability and innovative solutions.
Ingevity Corporation (NYSE: NGVT) has enhanced its activated carbon production capacity at its Zhuhai, China facility by 15-20% following recent upgrades. This increase aims to meet surging global demand for high-capacity pelletized carbon products, primarily used in gasoline vapor emissions control in vehicles. The Zhuhai plant has been operational since 2015 and supports Ingevity's position as a leader in automotive emissions control, with over 900 million units installed worldwide.
Ingevity Corporation (NYSE:NGVT) announced the passing of Richard B. Kelson, its chairman, on February 13, 2023, in New York City. Kelson had been with the company since its spin-off from WestRock in May 2016, providing significant leadership and guidance. He previously served in various high-ranking roles at Alcoa and held numerous board positions. In his memory, Ingevity will make a donation to the Penn Center for Research on Coronavirus. The board will select a new chairman in the coming days, with an announcement expected soon.
Ingevity Corporation (NYSE: NGVT) reported strong fourth quarter results for 2020, with net sales of $325.6 million, up 7.3% year-over-year. Net income rose 14.7% to $50.8 million, with diluted EPS at $1.23. The company benefitted from robust automotive sales and a shift to trucks in North America, although revenues from oilfield technologies and international paving were down. Full-year net sales decreased 5.9% to $1.216 billion, but adjusted EBITDA increased 2.4% to $397.9 million. For 2021, Ingevity's guidance projects sales of $1.25-$1.30 billion and adjusted EBITDA of $400-$420 million.
Ingevity Corporation (NYSE: NGVT) is set to release its fourth quarter and full year earnings on February 10, 2021, after market close. A live webcast for discussion of these results will occur on February 11, 2021, at 10 a.m. ET. Investors can access the webcast through Ingevity's website. A replay will be available starting at 2 p.m. ET on the same day. Ingevity specializes in providing specialty chemicals and high-performance carbon materials aimed at enhancing various applications across industries, operating from 25 locations globally.
Ingevity Corporation (NYSE: NGVT) has appointed Stacy Lancaster Cozad as executive vice president, general counsel, and secretary, effective February 1, 2021. This position was previously held by Katherine C. Burgeson, who retired on August 1, 2020. Cozad brings extensive legal expertise from her previous roles at Spirit AeroSystems and Southwest Airlines. She holds a bachelor’s degree from Concordia University Texas and a juris doctor from Pepperdine University. Ingevity specializes in specialty chemicals, carbon materials, and engineered polymers.
Ingevity Corporation (NYSE:NGVT) announced plans to appeal a U.S. District Court's decision on its patent related to automotive gasoline vapor emissions control (U.S. Patent No. RE38,844). The court ruled in favor of BASF Corp. regarding a patent infringement complaint. Ingevity insists on the strength of its intellectual property, claiming that the decision misinterprets relevant laws. While the patent expires in March 2022, Ingevity anticipates minimal impact on operations or financial outcomes from this expiration, as competition is not expected until after the patent's expiration.