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Ingevity Corporation (NYSE: NGVT) is a leading manufacturer of performance chemicals and materials based in the United States. The company operates in three primary segments: Performance Chemicals, Performance Materials, and Advanced Polymer Technologies.
The Performance Chemicals segment is the largest revenue generator, producing specialty chemicals used in diverse applications such as asphalt paving, oil exploration and production, agrochemicals, adhesives, lubricants, and publication inks. These chemicals are designed to enhance the performance and durability of these products, making them essential in their respective industries.
The Performance Materials segment focuses on the production of automotive carbon products, which are critical for improving the efficiency and emissions of vehicles. This segment plays a significant role in ensuring that the air we breathe is cleaner by providing innovative solutions for the automotive industry.
The Advanced Polymer Technologies segment specializes in caprolactone and caprolactone-based specialty polymers. These advanced polymers are used in a variety of high-performance applications, offering unique properties that enhance the capabilities of products across different markets.
Ingevity is committed to addressing customer challenges with creative and resourceful teams that aim to purify, protect, and enhance the world around us. By leveraging their high-performing people, products, and processes, Ingevity strives to drive exponential results and improve daily living.
Recent achievements include advancements in oilfield technologies that enable oil to flow better, innovations in agricultural chemicals that help crops grow fuller, and the development of longer-lasting road materials. The company also invests in partnerships and projects that align with their mission to create sustainable and impactful solutions.
Ingevity generates the majority of its revenue from North America and continues to expand its presence in global markets. The company’s financial condition remains robust, underpinned by steady revenue growth and strategic investments in research and development.
Stay updated with the latest news and developments about Ingevity Corporation to understand how they are driving innovation and making a significant impact across various industries.
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.
Ingevity (NYSE:NGVT) has announced the dates for its second-quarter 2024 earnings release and webcast. The company will release its Q2 2024 earnings after the stock market close on Wednesday, July 31, 2024. A live webcast to discuss the results will be held on Thursday, August 1, at 11:00 a.m. (Eastern). Investors can access the webcast through Ingevity's website or by dialing 833 470 1428 (inside the U.S.) with access code 153840. For those unable to attend, a recording will be available until July 31, 2025. Ingevity operates in three segments: Performance Materials, Advanced Polymer Technologies, and Performance Chemicals, providing products for various applications including adhesives, agrochemicals, and automotive components.
Ingevity (NYSE:NGVT) has announced two key appointments to its executive leadership team. Ryan C. Fisher has been named senior vice president, general counsel and secretary, while Terry Dyer joins as senior vice president and chief human resources officer. Fisher, an 18-year veteran of Ingevity, will oversee law and compliance, communications, government relations, and sustainability functions. Dyer brings over 20 years of HR experience and will lead the company's global human resources function.
Ingevity's CEO, John Fortson, expressed confidence that both leaders will contribute significantly to the company's continued success and innovation. Fisher's appointment was effective June 27, 2024, while Dyer will assume his role on August 12, 2024. Ingevity, headquartered in North Charleston, South Carolina, operates in 31 countries with approximately 1,700 employees, focusing on products that purify, protect, and enhance the world.
Ingevity (NYSE:NGVT) has partnered with Ultrapolymers Group to expand the distribution of its Capa® caprolactone bioplastics in Europe. This strategic alliance aims to leverage Ultrapolymers' extensive sales and technical expertise to boost sales. Steve Hulme, Senior Vice President of Advanced Polymer Technologies at Ingevity, highlighted that this partnership will allow Ingevity to serve European customers better. David Viehoff from Ultrapolymers expressed excitement about adding Ingevity's innovative and sustainable bioplastics to their product portfolio. Ingevity specializes in products that purify, protect, and enhance the environment, operating in three segments: Performance Materials, Advanced Polymer Technologies, and Performance Chemicals. Headquartered in North Charleston, South Carolina, Ingevity operates in 31 countries and employs around 1,700 people.
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