Ingevity Corporation reported mixed but generally stable first quarter 2026 results. Net sales from continuing operations were $258.0 million, up 4% from a year earlier, driven mainly by pricing actions and favorable foreign exchange. Net income from continuing operations was $23.4 million, or $0.65 per diluted share, down from $29.1 million and $0.79, reflecting $22.7 million of pre-tax special charges, including a $16.2 million litigation-related reimbursement to BASF.
On a non-GAAP basis, adjusted earnings from continuing operations rose to $41.4 million, with diluted adjusted EPS of $1.15 versus $1.01, and adjusted EBITDA was $91.5 million, essentially flat with the prior year and a 35.5% margin. Performance Materials led growth, with 6% higher sales and segment EBITDA up 10%.
The company completed the sale of its North Charleston refinery assets and most Industrial Specialties products for about $93 million and divested the Road Markings product line for about $65 million. Free cash flow was negative $12.3 million, partly due to seasonal working capital, while share repurchases reached $52 million and net debt ratio was 2.6x. Ingevity reaffirmed full-year 2026 guidance, targeting net sales of $1.05–$1.15 billion, adjusted EBITDA of $370–$395 million, adjusted EPS of $4.70–$5.20, and free cash flow of $215–$245 million, excluding a $113.2 million litigation settlement payment to BASF.
PLATT PHILLIP JOHN reported acquisition or exercise transactions in this Form 4 filing.
Ingevity Corp senior vice president of finance and chief accounting officer Phillip John Platt received a grant of 1,262 restricted stock units (RSUs) of common stock on May 1, 2026. This was awarded under the Ingevity Corporation 2025 Omnibus Incentive Plan and is compensation rather than a market purchase.
The RSUs will vest in three equal installments on May 1, 2027, 2028, and 2029, meaning the shares are earned over time if service conditions are met. After this award, Platt directly holds 31,633 shares of Ingevity common stock, which includes 422 shares purchased through the company’s Employee Stock Purchase Plan for the period from January 1, 2026 to March 31, 2026 at a price equal to 85% of the December 31, 2025 closing price.
Ingevity Corporation reported the results of its annual stockholder meeting held on April 29, 2026. Stockholders approved an amendment to the Ingevity Corporation 2025 Omnibus Incentive Plan, increasing the number of shares available for issuance under the plan by 580,000 shares.
All nine director nominees were elected for one-year terms. Stockholders approved, on a non-binding advisory basis, the compensation of the company’s named executive officers and ratified the appointment of PricewaterhouseCoopers LLP as independent registered public accounting firm for fiscal 2026. A quorum was reached, with 33,498,332 of 35,222,538 entitled shares represented.
Ingevity Corp director Luis M. Fernandez-Moreno received an equity award of 1,904 shares of common stock on April 30, 2026. The award was granted as restricted stock units under Ingevity Corporation's 2025 Omnibus Incentive Plan and carries no cash exercise price.
The restricted stock units will vest in full on April 30, 2027, meaning the director must remain eligible through that date to receive the shares outright. Following this compensation-related grant, Fernandez-Moreno directly holds 37,882 shares of Ingevity common stock as reported in this filing.
Gulyas Diane H. reported acquisition or exercise transactions in this Form 4 filing.
Ingevity Corp director Diane H. Gulyas received 1,904 shares of common stock as a grant of restricted stock units. The award was granted at a price of $0.00 per share under Ingevity Corporation's 2025 Omnibus Incentive Plan and will vest in full on April 30, 2027.
Following this grant, she holds 14,788 shares of Ingevity common stock directly. Separately, 3,747 shares are held indirectly through the Diane H. Gulyas Trust, where she serves as trustee and her spouse is the beneficiary.
Ingevity Corp director Bruce D. Hoechner received a grant of 1,904 deferred stock units (DSUs) of Common Stock as equity compensation. The award was made in lieu of the annual non-employee director restricted stock unit grant and carries no cash exercise price.
The DSUs will vest on April 30, 2027 and will convert into an equal number of Ingevity Common Stock shares when his board service ends, under the company’s Non-Employee Director Deferred Compensation Plan and 2025 Omnibus Incentive Plan. Following this grant, Hoechner directly holds 10,732 shares.
Lynch Frederick J reported acquisition or exercise transactions in this Form 4 filing.
Ingevity Corp director Frederick J. Lynch reported a compensation-related equity award. He received 1,904 restricted stock units of Ingevity common stock at no purchase price under the company’s 2025 Omnibus Incentive Plan. These units will vest in full on April 30, 2027, bringing his direct holdings to 28,263 shares after the grant.
NARWOLD KAREN G reported acquisition or exercise transactions in this Form 4 filing.
Ingevity Corp director receives equity award through a grant of 1,904 shares of common stock to Karen G. Narwold. The grant is reported at a price of $0.00 per share as a compensation-related award, not an open-market purchase, and increases her direct holdings to 18,900 shares.
The award represents restricted stock units granted under Ingevity Corporation's 2025 Omnibus Incentive Plan and is scheduled to vest in full on April 30, 2027. This filing records a routine equity-based compensation grant rather than a discretionary stock trade.
Segal Francis David reported acquisition or exercise transactions in this Form 4 filing.
Ingevity Corp director Francis David Segal reported receiving an equity award under the company’s 2025 Omnibus Incentive Plan. He was granted 1,904 shares of Common Stock at no cost, structured as restricted stock units that will vest in full on April 30, 2027. Following this grant, he directly holds 8,284 shares of Ingevity common stock.
Ingevity Corp director Kevin J. Willis received an equity award of 1,904 deferred stock units. The grant reflects his election to take deferred stock units instead of the usual annual restricted stock unit grant for non-employee directors.
The deferred stock units will vest on April 30, 2027 and will convert into an equal number of Ingevity common shares when his board service ends, under the company’s Amended and Restated Non-Employee Director Deferred Compensation Plan and 2025 Omnibus Incentive Plan. After this award, he holds 11,081 shares directly.