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 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 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.
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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.
Ingevity Corporation (NYSE:NGVT) will release its third quarter 2022 earnings on November 2, 2022, after the market close. A live webcast discussing the results will occur on November 3, 2022, at 10:00 a.m. Eastern. Investors can access the webcast here. The company, headquartered in North Charleston, South Carolina, specializes in performance chemicals and materials used in various applications, signaling its commitment to sustainability.
Ingevity Corporation (NYSE:NGVT) has completed the acquisition of Ozark Materials for $325 million. This all-cash deal is expected to be immediately accretive to Ingevity’s earnings per share. Ozark Materials specializes in pavement marking products, supplying state departments, contractors, and airports across the U.S. and Canada. The deal strengthens Ingevity's position in the paving construction industry and aligns with its business model. It also includes transportation support services from Ozark Logistics.
Ingevity Corporation (NYSE:NGVT) has rebranded its adsorbed natural gas vehicle business to NeuFuel, signaling a focus on facilitating cost-effective transitions to carbon-neutral fuels for diesel fleets. NeuFuel enables diesel vehicles to run on renewable natural gas, targeting markets such as school buses and delivery trucks. The company emphasizes NeuFuel's unique offer as a pathway to zero emissions for existing diesel vehicles. The product line will also integrate with American CNG’s DEMI Diesel Displacer™ for enhanced dual-fuel capabilities.
Ingevity Corporation (NYSE:NGVT) has launched its Capa® polyols production in the U.S., marking the first production of high-performance caprolactone polyols domestically. This expansion at the DeRidder, Louisiana facility increases global capacity for polyols by 40%. The investment includes enhanced storage capacity, facilitating bulk shipments to U.S. customers. The company aims to meet rising demand and improve service levels for its growing customer base. Ingevity operates globally with a focus on sustainable solutions in Performance Chemicals and Materials.
Ingevity Corporation (NYSE:NGVT) has achieved a gold sustainability rating from EcoVadis, placing it in the top 3% of the specialty chemicals sector. This advancement from a silver rating in 2021 to gold in 2022 signifies a commitment to sustainability. Key initiatives include launching a solar panel system in China, releasing an energy policy, and endorsing corporate sustainability practices by the United Nations Global Compact. The company is dedicated to enhancing its impact on the environment and society.