Ingevity Corporation reports developments for a global specialty materials company focused on advanced carbon and engineered material solutions. Its updates cover Performance Materials activated carbon technologies for emissions control and filtration, Performance Chemicals products for agriculture and pavement systems, and Advanced Polymer Technologies specialty polymers used in coatings and industrial applications.
Recurring news themes include operating and financial results, segment performance, capital-structure and capital-allocation actions, and portfolio changes. Recent company developments also include completed divestitures involving North Charleston crude tall oil refinery assets, the majority of the Industrial Specialties product line, and Ozark Materials, along with board refreshment and other governance updates.
Ingevity Corporation (NYSE:NGVT) will release its third quarter earnings after market close on October 27, 2021. A live webcast discussing the results will follow on October 28, 2021, at 10:00 a.m. Eastern Time. Investors can access the webcast through Ingevity’s website. A replay will be available from 2 p.m. on October 28 until November 25, 2021. Ingevity operates in two segments: Performance Chemicals and Performance Materials, focused on sustainable solutions.
Ingevity Corporation (NYSE:NGVT) plans to appeal a jury verdict from September 15, 2021, which ordered them to pay approximately $28 million for alleged anticompetitive practices related to their patent enforcement on automotive gasoline vapor emissions control systems. This amount is subject to tripling under U.S. antitrust law, totaling around $85 million. Despite the verdict, Ingevity does not anticipate immediate commercial impact and asserts confidence in its intellectual property. The company emphasizes that the ruling does not affect other critical patents related to low-emission technologies.
Ingevity Corporation (NYSE: NGVT) announced a live webinar on August 25, 2021, at 10 a.m. (Eastern) to discuss the outlook for the pine chemicals and rosin industry. The webinar aims to educate analysts and investors about industry dynamics and the company's strategic innovations to drive growth. Executive leaders, including CEO John Fortson and CFO Mary Hall, will present and answer questions. A replay will be available after the event. The company, headquartered in North Charleston, South Carolina, specializes in products that purify, protect, and enhance various applications worldwide.
Ingevity Corporation (NYSE:NGVT) reported a strong second quarter 2021, with net sales of $358.4 million, up 32.4% year-over-year. Net income rose to $44.3 million, a significant increase of 119.3%, with a net income margin of 12.4%. Diluted EPS hit $1.10, compared to $0.49 last year. The company generated $65.8 million in operating cash flow, leading to a free cash flow of $41.9 million, up 23.6%. Adjusted EBITDA rose 75.1% to $117.7 million. Ingevity raised its full-year guidance for sales to $1.320 billion–$1.360 billion.
Ingevity Corporation (NYSE:NGVT) will release its Q2 earnings on July 28, 2021. A live webcast is scheduled for July 29, 2021, at 10:00 a.m. (Eastern) to discuss these results. The webcast can be accessed through Ingevity’s website, with a replay available from 2 p.m. the same day until August 26, 2021. The company operates in two segments: Performance Chemicals and Performance Materials, focused on sustainable solutions across various industries, including automotive and agrochemicals.
Ingevity Corporation (NYSE:NGVT) announced a live webinar on June 30, 2021, to explore innovative pathways for activated carbon. This webinar is part of a series aimed at educating analysts and investors on business dynamics and strategic innovations for growth. Key executives, including Ed Woodcock and David Newton, will present, with a Q&A session following. Accessible via Ingevity’s Investor Relations site, the event will also have a replay available from June 30 to July 28, 2021. For further details, a slide deck will be posted prior to the event.
Ingevity Corporation (NYSE:NGVT) has received a $256,000 grant from the Pennsylvania Department of Environmental Protection under the 2020 Alternative Fuels Incentive Grant Program. This funding will facilitate the use of renewable natural gas (RNG) and Ingevity's adsorbed natural gas (ANG) vehicle platform across eight fleets in Pennsylvania. The grant will cover half of the costs to equip 28 Ford trucks and vans with ANG technology and install fueling appliances. This project marks the first application of ANG technology in Pennsylvania, supported by local natural gas utilities and commercial partners.
Ingevity Corporation (NYSE:NGVT) will hold a live webinar on May 26, 2021, focusing on the growth opportunities and end uses for its Engineered Polymers business. The event, part of a webinar series, aims to educate analysts and investors about key dynamics influencing the business. Key company executives will be present for discussions and questions. For those unable to attend live, a replay will be available until June 23, 2021. This initiative underscores Ingevity's commitment to transparency and strategic innovation within its operational sectors.
Ingevity Corporation (NYSE:NGVT) reported Q1 2021 net sales of $320.3 million, an 11.1% increase year-over-year. Net income grew 7.5% to $48.7 million, with diluted earnings per share rising to $1.20 from $1.08. Adjusted EBITDA reached $105.4 million, up 14.3%, and the EBITDA margin improved to 32.9%. However, operating cash flow fell 15.1% to $51.1 million. The company raised its fiscal year guidance, now expecting sales of $1.275 billion to $1.325 billion and adjusted EBITDA of $410 million to $430 million.
Ingevity Corporation (NYSE:NGVT) has partnered with GreenGasUSA Holdings to enhance renewable natural gas (RNG) solutions. This collaboration allows Ingevity to hold a less than 50% stake in GreenGas, which focuses on collecting and purifying biogas from agricultural and industrial waste. The investment will support the development of biogas capture systems and leverage Ingevity's activated carbon technology for natural gas transport. This strategic move positions Ingevity in the growing RNG market, reducing greenhouse gases and promoting sustainable energy solutions.