Ingevity Corp Stock Price, News & Analysis

Ingevity Corporation (NYSE: NGVT) reported impressive first-quarter results for 2022, achieving record net sales of $382.8 million, a 19.5% increase year-over-year. The company recorded net income of $60.8 million and EPS of $1.55, up 24.8%. Adjusted EBITDA reached $119.0 million, up 12.9% with a margin of 31.1%. In addition, Ingevity raised its full-year 2022 guidance for sales to $1.525 billion to $1.65 billion and adjusted EBITDA to $430 million to $470 million. Despite inflationary pressures, strong end-market demand allowed the company to increase prices effectively.

Ingevity Corporation (NYSE:NGVT) announced a study by Environmental Resources Management highlighting its lignin-based Polyfon® H dispersant's carbon negative properties. The study reveals that Polyfon offsets greenhouse gas emissions, boasting a carbon footprint 122% lower than traditional fossil carbon-based products. It captures 2.2 metric tons of biogenic CO2 while releasing only 1.46 MT during manufacturing. Additionally, Post-application, this biogenic carbon is expected to remain in soil for over 100 years, supporting sustainability goals in the agriculture sector.

Ingevity Corporation (NYSE: NGVT) will release its first quarter 2022 earnings on May 4, 2022, after market close. A live webcast to discuss the results will take place on May 5, 2022, at 10:00 a.m. Eastern. Access to the call can be made through the company's investor website. Ingevity specializes in products that purify and enhance sustainability across various sectors, operating in Performance Chemicals and Performance Materials. The company is headquartered in North Charleston, South Carolina, and employs approximately 1,850 people.

Ingevity Corporation (NYSE:NGVT) reported Q4 2021 net sales of $336 million, a 3.2% increase, while FY net sales reached $1.4 billion, up 14.4%. Q4 net income was $29.3 million, down 36.3%, impacted by microchip supply constraints. Diluted EPS for Q4 stood at $0.74, compared to $1.11 in the prior year. FY diluted EPS was $2.95, reflecting an $85 million litigation charge. The company projects FY 2022 sales between $1.525 billion and $1.60 billion, with adjusted EBITDA guidance of $430 million to $460 million. Despite challenges, strong performance in the Performance Chemicals segment was noted.

Ingevity Corporation (NYSE:NGVT) will release its fourth-quarter and full-year 2021 earnings on February 23, 2022, after market close. A live webcast will follow on February 24, 2022, at 10:00 a.m. Eastern to discuss the results. Interested parties can access the webcast on the company's investor website. Ingevity focuses on products that purify and enhance the environment, operating in two segments: Performance Chemicals and Performance Materials. The company is headquartered in North Charleston, South Carolina, and employs approximately 1,850 people.

Ingevity Corporation (NYSE:NGVT) announced the retirement of Mike Smith, effective March 1, 2022, from his roles as executive vice president and president of Performance Chemicals. Rich White and Steve Hulme will co-lead the Performance Chemicals segment starting January 1, 2022. White will become senior vice president and president of Industrial Specialties, while Hulme will take the role of senior vice president and president of Engineered Polymers. The executive transition is aimed at sustaining growth in the segment.