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) has announced plans to explore strategic alternatives for its Performance Chemicals Industrial Specialties product line and North Charleston CTO refinery. The company is considering divesting portions of its North Charleston site, including pine chemical-based chemistries serving various industrial markets.
The company released preliminary 2024 financial results, expecting net sales of approximately $1.40 billion and Adjusted EBITDA of approximately $360 million, with free cash flow exceeding $40 million. Looking ahead to 2025, Ingevity projects Adjusted EBITDA to be slightly above $400 million.
The strategic review excludes the Performance Chemicals Road Technologies product line and certain lignin-based products. The company aims to strengthen its Performance Chemicals segment and improve overall earnings and cash flow profile through these initiatives. A final decision on the strategic alternatives is expected to be announced before year-end.
Ingevity (NYSE:NGVT) has scheduled its fourth-quarter and full year 2024 earnings release for Tuesday, February 18, 2025, after market close. The company will host a webcast on Wednesday, February 19, at 10:00 a.m. (Eastern) to discuss the results.
Participants can access the webcast through Ingevity's website or dial in using the access code 068901. A recording will be available from February 19, 2025, through February 18, 2026. The company will provide a slide deck with financial and statistical information prior to the call.
Ingevity operates in three segments: Performance Materials, Advanced Polymer Technologies, and Performance Chemicals, serving various industries including adhesives, agrochemicals, asphalt paving, and automotive components. The company employs approximately 1,600 people across 31 countries.
Ingevity (NYSE:NGVT) has elected J. Kevin Willis to its board of directors, expanding the board to nine members, with eight being independent. Willis currently serves as senior vice president and CFO at Ashland Inc. (NYSE:ASH), where he oversees worldwide financial functions and participates in global strategy setting. During his 37-year tenure at Ashland, Willis has accumulated extensive experience in accounting, finance, and treasury management, including international operations. His expertise includes driving shareholder value through capital allocation planning, operating efficiencies, and business portfolio separations, notably Ashland's separation from Valvoline.
Ingevity (NYSE: NGVT) reported Q3 2024 financial results with net sales of $376.9 million, down 16% year-over-year. The company posted a net loss of $107.2 million and diluted loss per share of $2.95, including restructuring charges of $86.9 million and contract termination fees of $100 million. Adjusted earnings were $40.2 million with diluted adjusted EPS of $1.10. Adjusted EBITDA reached $106.4 million with a 28.2% margin. The company affirmed full-year guidance with sales between $1.40-1.50 billion and adjusted EBITDA of $350-360 million.
Ingevity (NYSE:NGVT) has updated its third-quarter 2024 earnings release and webcast dates. The company will now release its Q3 2024 earnings after the stock market close on Tuesday, October 29, 2024, followed by a live webcast on Wednesday, October 30, at 10:00 a.m. (Eastern) to discuss the results. The webcast can be accessed through Ingevity's website or by dialing 833 470 1428 (inside the U.S.) with access code 381718.
A recording of the event will be available from approximately 2:00 p.m. (Eastern) on October 30, 2024, through October 29, 2025. Ingevity operates in three segments: Performance Materials, Advanced Polymer Technologies, and Performance Chemicals, providing products and technologies that purify, protect, and enhance the world.
Ingevity (NYSE: NGVT) announced that John Fortson has departed as president, CEO, and board member, effective October 2, 2024. The board appointed current director Luis Fernandez-Moreno as interim president and CEO while searching for a permanent replacement.
Fernandez-Moreno, a board member since Ingevity's 2016 spinoff, has 40 years of experience in the specialty chemicals industry. He previously led Ashland Inc.'s Chemicals division and held executive positions at Arch Chemicals and Dow Chemical Company.
The company plans to release its third quarter 2024 earnings after market close on October 30, 2024, with a live webcast discussion on October 31. Ingevity operates in three segments: Performance Materials, Advanced Polymer Technologies, and Performance Chemicals, providing solutions for various industries globally.
Ingevity (NYSE:NGVT) is set to launch Capa® HS, a new generation of polycaprolactone polyols, at the 2024 Polyurethanes Technical Conference in Atlanta, Georgia. This product series is designed to extend the life of polyurethane elastomers in extreme weather conditions and harsh environments.
The Capa HS series maintains its integrity after simulating 10 years of water ingress, offering a clear performance advantage over conventional polyesters. It targets applications in offshore, mining, and petroleum industries, where durability and water resistance are crucial.
Ingevity will present 'Polycaprolactone Polyols for Enhanced Hydrolytic Resistance in High Performance Polyurethane Applications' on October 2 at the conference. The company's advanced polymer technologies business is a global leader in caprolactone technology, with a 50-year history of improving performance in various end-use applications.
Ingevity (NYSE:NGVT) will participate in the FEICA European Adhesive & Sealant Conference and EXPO 2024 in Noordwijkerhout, Netherlands, from September 11-13, 2024. The company will launch Capa® L, a new generation of sustainable polycaprolactone polyols for polyurethane adhesives used in flexible food packaging, construction, and industrial applications.
Key features of Capa L include:
- Liquid products at room temperature
- Enhanced rate of biodegradation
- Food contact compliant in the EU
Adam Cowell, PhD., technical market development manager at Ingevity, will present on September 12 at 2:30 p.m. The team will be at table #38 during the three-day exhibition. Ingevity's advanced polymer technologies business is the global leader in caprolactone technology, with a 50-year history of improving performance in various applications.
Ingevity (NYSE: NGVT) has announced strategic steps to improve the profitability of its Performance Chemicals segment. The company plans to consolidate oleo-based chemical refining with existing crude tall oil refining at its North Charleston, South Carolina facility, while closing its Crossett, Arkansas facility in August. This consolidation is expected to result in annual savings of $20-25 million beginning in 2025.
Additionally, Ingevity is implementing corporate and business-related cost reduction actions, projected to yield approximately $10 million in annual savings starting in 2025. The company anticipates charges of about $100 million associated with these actions, with roughly $65 million being non-cash. These steps are part of Ingevity's ongoing efforts to reposition its Performance Chemicals segment for sustained improved profitability.
Ingevity (NYSE: NGVT) reported Q2 2024 financial results with net sales of $390.6 million, down 19% year-over-year. The company posted a net loss of $283.7 million and diluted loss per share of $7.81, primarily due to a $349.1 million non-cash goodwill impairment charge in the Performance Chemicals segment. Adjusted EBITDA was $101.3 million with a 25.9% margin. Performance Materials sales increased 9% to $157.2 million, while Advanced Polymer Technologies and Performance Chemicals sales declined. Ingevity revised its full-year 2024 guidance, projecting sales between $1.40 billion and $1.50 billion and adjusted EBITDA between $350 million and $360 million.