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 (NYSE: NGVT) is a specialty materials and chemical manufacturer that reports its operations through three segments: Performance Materials, Advanced Polymer Technologies and Performance Chemicals. News about NGVT often centers on how these businesses evolve, how the portfolio is being reshaped and how the company’s products are used in demanding applications such as adhesives, agrochemicals, asphalt paving, certified biodegradable bioplastics, coatings, elastomers, pavement markings, lubricants, oil drilling and automotive components.
Investors following Ingevity news can expect frequent updates on segment performance, portfolio actions and strategic direction. Recent announcements include the agreement and subsequent completion of the sale of the North Charleston crude tall oil refinery and the majority of the Performance Chemicals Industrial Specialties product line to Mainstream Pine Products, LLC. The company has characterized this divestiture as a way to reduce portfolio volatility, strengthen margins and cash flow and focus on higher-margin specialty applications in activated carbon and pavement or road technologies.
Ingevity has also reported on its portfolio review process and its decision to explore strategic alternatives for the Advanced Polymer Technologies segment and the Performance Chemicals Road Markings business, including potential sales. Leadership changes at the segment and corporate level, such as appointments in finance, operations and Performance Materials, are another recurring theme in company press releases and SEC filings.
In addition, NGVT news has highlighted Ingevity’s role in emerging battery materials through a license agreement with CHASM Advanced Materials for carbon nanotube conductive additives used in battery applications in North America and select European countries. Earnings releases provide detail on segment sales, adjusted EBITDA, cash flow and guidance ranges, giving context on how strategic initiatives and market conditions affect the company’s financial profile. For investors and observers, the NGVT news stream offers insight into how Ingevity is repositioning its portfolio, managing its segments and pursuing opportunities in specialty chemicals and materials.
Ingevity Corporation (NYSE:NGVT) reported third quarter 2021 net sales of $376.8 million, reflecting a 13.6% increase year-over-year. The company experienced a net loss of $4.2 million due to an $85 million pre-tax litigation expense. Adjusted earnings reached $64.4 million, with adjusted EPS of $1.62. Adjusted EBITDA was $119.5 million, a decline of 6.3%. The revised full-year guidance for sales is projected between $1.320 billion and $1.360 billion with adjusted EBITDA of $405 million to $420 million. The company cited challenges from the ongoing microchip shortage impacting automotive production.
Ingevity Corporation (NYSE:NGVT) announced plans to enhance caprolactone monomer capacity at its Warrington, U.K. facility, projecting a capacity increase of over 20% within the next year. This expansion aims to meet rising demand for the Capa® portfolio in engineered polymers. The initiative follows previous announcements regarding a new innovation center in Warrington and polyol production expansion in DeRidder, Louisiana. Ingevity's strategic investments in capacity and innovation seek to improve service reliability and customer support globally.
Ingevity Corporation (NYSE:NGVT) will release its third quarter earnings after market close on
Ingevity Corporation (NYSE:NGVT) plans to appeal a jury verdict from September 15, 2021, which ordered them to pay approximately $28 million for alleged anticompetitive practices related to their patent enforcement on automotive gasoline vapor emissions control systems. This amount is subject to tripling under U.S. antitrust law, totaling around $85 million. Despite the verdict, Ingevity does not anticipate immediate commercial impact and asserts confidence in its intellectual property. The company emphasizes that the ruling does not affect other critical patents related to low-emission technologies.
Ingevity Corporation (NYSE: NGVT) announced a live webinar on August 25, 2021, at 10 a.m. (Eastern) to discuss the outlook for the pine chemicals and rosin industry. The webinar aims to educate analysts and investors about industry dynamics and the company's strategic innovations to drive growth. Executive leaders, including CEO John Fortson and CFO Mary Hall, will present and answer questions. A replay will be available after the event. The company, headquartered in North Charleston, South Carolina, specializes in products that purify, protect, and enhance various applications worldwide.
Ingevity Corporation (NYSE:NGVT) reported a strong second quarter 2021, with net sales of $358.4 million, up 32.4% year-over-year. Net income rose to $44.3 million, a significant increase of 119.3%, with a net income margin of 12.4%. Diluted EPS hit $1.10, compared to $0.49 last year. The company generated $65.8 million in operating cash flow, leading to a free cash flow of $41.9 million, up 23.6%. Adjusted EBITDA rose 75.1% to $117.7 million. Ingevity raised its full-year guidance for sales to $1.320 billion–$1.360 billion.
Ingevity Corporation (NYSE:NGVT) will release its Q2 earnings on July 28, 2021. A live webcast is scheduled for July 29, 2021, at 10:00 a.m. (Eastern) to discuss these results. The webcast can be accessed through Ingevity’s website, with a replay available from 2 p.m. the same day until August 26, 2021. The company operates in two segments: Performance Chemicals and Performance Materials, focused on sustainable solutions across various industries, including automotive and agrochemicals.
Ingevity Corporation (NYSE:NGVT) announced a live webinar on June 30, 2021, to explore innovative pathways for activated carbon. This webinar is part of a series aimed at educating analysts and investors on business dynamics and strategic innovations for growth. Key executives, including Ed Woodcock and David Newton, will present, with a Q&A session following. Accessible via Ingevity’s Investor Relations site, the event will also have a replay available from June 30 to July 28, 2021. For further details, a slide deck will be posted prior to the event.
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