Ingevity Corp Stock Price, News & Analysis

Ingevity Corporation (NYSE:NGVT) is participating in the European Coatings Show 2023 in Nuremburg, Germany, from March 27-30. The company highlights its Capa® caprolactone high-performance polyols and new vegetable oil-based products. Amanda Tosh will present a study on the sustainability benefits of Capa polyols in 2K polyurethane coatings. Steve Hulme emphasizes the versatility and durability of these polyols. Ingevity also launched the low-color AltaVeg™ FA 120, enhancing options for durable coatings. The company invites attendees to visit booth 3C-548 for more information.

Ingevity Corporation (NYSE: NGVT) reported record net sales of $1.67 billion for the full year 2022, up 19.9% from the previous year. Fourth-quarter net sales reached $383.6 million, a 14.2% increase year-over-year, despite a 47% drop in net income to $15.6 million due to customer destocking. Adjusted EBITDA for the fourth quarter was $74.3 million, with a margin of 19.4%. For 2023, Ingevity expects sales between $1.9 billion and $2.1 billion and adjusted EBITDA between $495 million and $515 million, reflecting anticipated recovery in key markets.

Ingevity Corporation (NYSE:NGVT) announced the election of Bruce Hoechner to its board of directors effective February 16, 2023. Hoechner brings significant experience, having served as president and CEO of Rogers Corporation until 2022, and previously held leadership roles at Dow Chemical and Rohm and Haas. The chair of Ingevity's board, Jean Blackwell, expressed optimism that Hoechner's expertise in international marketing and business strategy will positively impact the company's growth and sustainability initiatives. Ingevity operates in two segments: Performance Chemicals and Performance Materials, providing solutions across various industries.

Ingevity Corporation (NYSE: NGVT) will introduce its new polycaprolactone products, Capa® LT, in a webinar on February 23, 2023, at 11 a.m. ET. Dr. Scott Phillips, Technical Market Development Manager, will discuss the product's applications in various industries, including transportation and aerospace. Capa LT aims to enhance polyurethane performance in low temperatures and reduce reliance on PTMEG technology, which has faced supply challenges. The webinar will include a presentation and Q&A session. Ingevity operates globally with a focus on sustainable solutions across diverse markets.

Ingevity Corporation (NYSE: NGVT) will present its expanded pavement marking product line at the ATSSA 2023 Convention and Traffic Expo in Phoenix, AZ, from February 18-21, 2023. The company showcases its capabilities following the acquisition of Ozark Materials in October 2022, introducing products like GreenLane™ Spray for bike lane markings and ThermoAccel™, a durable thermoplastic that simplifies application processes. This marks Ingevity's debut at the ATSSA event, highlighting its commitment to roadway safety and innovation in traffic solutions.

Ingevity Corporation (NYSE:NGVT) will announce its Q4 and full-year 2022 earnings on February 27, 2023, after market close. A live webcast will follow on February 28 at 10:00 a.m. (Eastern) to discuss the results. Investors can access the call via telephone by dialing 844 200 6205 within the U.S. or 929 526 1599 internationally, using access code 696144. A recording will be available on the company's website post-event. Ingevity specializes in solutions for purification, protection, and enhancement across multiple industries, focusing on chemicals and materials.

Ingevity Corporation (NYSE:NGVT) announced that its president and CEO, John Fortson, was named one of the 50 Most Influential People of 2022 by Charleston Business Magazine. This recognition highlights his economic and community impact. Fortson, who became CEO in September 2020, emphasized Ingevity's mission to enhance the quality of life in North Charleston. The company was also recognized as America’s Most Responsible Companies of 2023, ranking first in South Carolina and 10th in the chemicals sector. Additionally, Ingevity received an EcoVadis Gold rating for its commitment to ethical business practices.

Ingevity Corporation (NYSE: NGVT) reported third quarter 2022 record sales of $482.0 million, a 27.9% increase year-over-year, driven by strong demand and price increases. Net income surged to $75.4 million, with diluted EPS at $1.98. Adjusted EBITDA also hit a record $138.2 million, up 15.6%, with an adjusted EBITDA margin of 28.7%. Full-year sales guidance was raised to $1.65 billion - $1.70 billion. Share repurchases totaled $49.3 million for the quarter, supporting shareholder returns. The acquisition of Ozark Materials was completed on October 3rd, enhancing market presence.