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.
About Ingevity Corp (NGVT)
Ingevity Corporation is a leading performance chemicals and materials company headquartered in the United States. The company operates in three primary business segments: Performance Chemicals, Advanced Polymer Technologies, and Performance Materials. Through these segments, Ingevity delivers innovative solutions that enhance the performance, sustainability, and efficiency of its customers' operations across diverse industries, including oilfield services, asphalt paving, automotive, agriculture, and industrial manufacturing.
Performance Chemicals
The Performance Chemicals segment is the largest contributor to Ingevity's revenue. This division specializes in the production and sale of specialty chemicals that serve a wide range of applications. These include asphalt paving, where the company’s products improve road durability and performance; oil exploration and production, where its technologies enhance oil flow and extraction efficiency; and agrochemicals, which support crop health and growth. Additionally, Ingevity's chemicals are used in adhesives, lubricants, and publication inks, demonstrating its broad market reach and versatility.
Advanced Polymer Technologies
The Advanced Polymer Technologies segment focuses on the production of caprolactone and caprolactone-based specialty polymers. These high-performance materials are used in a variety of demanding applications, including coatings, adhesives, sealants, and elastomers. The advanced polymers developed by Ingevity are valued for their durability, flexibility, and ability to meet stringent performance requirements, making them a critical component in many industrial and commercial products.
Performance Materials
The Performance Materials segment is a key player in the automotive sector, producing activated carbon products used in vehicle emissions control systems. These materials help reduce harmful pollutants, contributing to cleaner air and compliance with environmental regulations. Ingevity’s expertise in automotive carbon technologies underscores its commitment to sustainability and innovation in addressing global environmental challenges.
Market Position and Competitive Landscape
Ingevity operates within the highly competitive specialty chemicals and advanced materials industry. Its ability to deliver high-value, niche products tailored to specific customer needs sets it apart from competitors. The company’s geographic focus is primarily on North America, which accounts for the majority of its revenue, although it also serves global markets. By combining technical expertise, innovative product development, and a customer-centric approach, Ingevity has established itself as a trusted partner for businesses seeking to enhance performance and sustainability.
Core Value Proposition
Ingevity’s mission is to purify, protect, and enhance the world around us. The company’s products enable oil to flow better, help crops grow fuller, make roads last longer, and ensure cleaner air. Its commitment to solving complex customer challenges through creativity and resourcefulness highlights its role as a key innovator in its industry. By leveraging its high-performing people, products, and processes, Ingevity drives measurable results for its customers while contributing to a more sustainable future.
Industry Expertise and Innovation
Ingevity’s deep expertise in performance chemicals and materials science, combined with its focus on sustainability and innovation, positions it as a significant player in the specialty chemicals market. The company’s advanced technologies and commitment to quality enable it to address critical challenges across diverse industries, from infrastructure development to environmental protection. Its focus on high-performance, sustainable solutions ensures its relevance and value in an ever-evolving market landscape.
Ingevity Corporation (NYSE: NGVT) has partnered with the City of Orlando to implement a demonstration program for adsorbed natural gas (ANG) bi-fuel vehicle technology. Orlando will integrate two ANG-equipped Ford F-150 trucks into its fleet to evaluate fuel savings and greenhouse gas (GHG) emissions reduction. ANG technology significantly lowers natural gas storage pressure, facilitating cost-effective fueling solutions. ANG vehicles can reduce GHG emissions by 25% compared to traditional fuels, and up to 125% with renewable natural gas. This initiative aligns with Orlando's commitment to sustainable energy.
Ingevity Corporation (NYSE: NGVT) is expanding its caprolactone polyol production capabilities at its DeRidder, Louisiana facility. This upgrade aims to increase global production capacity by 40% to meet rising demand for Capa® technologies used in industrial equipment and automotive applications. Construction is set to begin in summer 2021, with operations expected to commence in Q1 2022. The enhancements will improve supply chain efficiency and overall customer service while reinforcing Ingevity's commitment to innovation in the Engineered Polymers sector.
Ingevity Corporation (NYSE: NGVT) has announced the election of Jean Blackwell as the new chair of the board, following the death of former Chairman Richard B. Kelson on February 13, 2021. Blackwell, a board member since 2016, brings extensive experience, having held multiple leadership roles at Cummins Inc. and served on various corporate boards. Her appointment is expected to enhance leadership stability and strategic direction for Ingevity, particularly in its performance chemicals and materials segments, which focus on sustainability and innovative solutions.
Ingevity Corporation (NYSE: NGVT) has enhanced its activated carbon production capacity at its Zhuhai, China facility by 15-20% following recent upgrades. This increase aims to meet surging global demand for high-capacity pelletized carbon products, primarily used in gasoline vapor emissions control in vehicles. The Zhuhai plant has been operational since 2015 and supports Ingevity's position as a leader in automotive emissions control, with over 900 million units installed worldwide.
Ingevity Corporation (NYSE:NGVT) announced the passing of Richard B. Kelson, its chairman, on February 13, 2023, in New York City. Kelson had been with the company since its spin-off from WestRock in May 2016, providing significant leadership and guidance. He previously served in various high-ranking roles at Alcoa and held numerous board positions. In his memory, Ingevity will make a donation to the Penn Center for Research on Coronavirus. The board will select a new chairman in the coming days, with an announcement expected soon.
Ingevity Corporation (NYSE: NGVT) reported strong fourth quarter results for 2020, with net sales of $325.6 million, up 7.3% year-over-year. Net income rose 14.7% to $50.8 million, with diluted EPS at $1.23. The company benefitted from robust automotive sales and a shift to trucks in North America, although revenues from oilfield technologies and international paving were down. Full-year net sales decreased 5.9% to $1.216 billion, but adjusted EBITDA increased 2.4% to $397.9 million. For 2021, Ingevity's guidance projects sales of $1.25-$1.30 billion and adjusted EBITDA of $400-$420 million.
Ingevity Corporation (NYSE: NGVT) is set to release its fourth quarter and full year earnings on February 10, 2021, after market close. A live webcast for discussion of these results will occur on February 11, 2021, at 10 a.m. ET. Investors can access the webcast through Ingevity's website. A replay will be available starting at 2 p.m. ET on the same day. Ingevity specializes in providing specialty chemicals and high-performance carbon materials aimed at enhancing various applications across industries, operating from 25 locations globally.
Ingevity Corporation (NYSE: NGVT) has appointed Stacy Lancaster Cozad as executive vice president, general counsel, and secretary, effective February 1, 2021. This position was previously held by Katherine C. Burgeson, who retired on August 1, 2020. Cozad brings extensive legal expertise from her previous roles at Spirit AeroSystems and Southwest Airlines. She holds a bachelor’s degree from Concordia University Texas and a juris doctor from Pepperdine University. Ingevity specializes in specialty chemicals, carbon materials, and engineered polymers.
Ingevity Corporation (NYSE:NGVT) announced plans to appeal a U.S. District Court's decision on its patent related to automotive gasoline vapor emissions control (U.S. Patent No. RE38,844). The court ruled in favor of BASF Corp. regarding a patent infringement complaint. Ingevity insists on the strength of its intellectual property, claiming that the decision misinterprets relevant laws. While the patent expires in March 2022, Ingevity anticipates minimal impact on operations or financial outcomes from this expiration, as competition is not expected until after the patent's expiration.
Ingevity Corporation (NYSE: NGVT) has priced an offering of $550 million in 8-year senior unsecured notes, with a maturity date of November 1, 2028, and an interest rate of 3.875% per annum. The offering is expected to close on October 28, 2020, subject to customary conditions. Proceeds from the offering will be used for refinancing existing debt. The notes will be sold only to qualified institutional buyers under Rule 144A and certain non-U.S. persons under Regulation S. The offering does not constitute a solicitation or sale in jurisdictions where it would be unlawful.
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