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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.
Allegion (NYSE: ALLE), a global leader in security products, has announced the appointment of Stacy Cozad as Senior Vice President, General Counsel, and Corporate Secretary, effective August 5, 2024. Cozad succeeds Jeff Braun, who will retire on December 31, 2024. With nearly 30 years of experience, Cozad brings expertise in law, compliance, corporate communications, and cybersecurity. Previously, she served as EVP, General Counsel, and Corporate Secretary at Ingevity , managing $2 billion in 2023 revenue. John H. Stone, Allegion's CEO, highlighted Cozad's strategic problem-solving skills and dedication to core values, welcoming her to the executive leadership team to drive the company's growth and innovation.
Ingevity released its 2023 Sustainability Report, emphasizing its commitment to environmental, social, and governance sustainability initiatives. The report highlights that 92% of 2023 revenue was generated from products supporting the UN Sustainable Development Goals. Key achievements include ISCC+ Mass Balance accreditation in Warrington, UK, an EcoVadis Silver rating, and surpassing GHG intensity reduction goals ahead of schedule. Additionally, Ingevity contributed 4,200 volunteer hours and $1.6 million to local communities. The company appointed its first Chief Sustainability Officer to oversee its sustainability strategy. Future goals include achieving carbon neutrality by 2050 and maintaining top safety performance in manufacturing by 2028.
Ingevity (NYSE: NGVT) reported a decline in first quarter 2024 net sales of $340.1 million, down 13% primarily due to the repositioning of the Performance Chemicals segment. The company incurred a net loss of $56.0 million with diluted loss per share of $1.54, offset by adjusted earnings of $19.1 million and diluted adjusted EPS of $0.52. Ingevity realized cost savings of $20 million in Q1 and aims for $65-75 million in 2024. Full-year guidance includes sales of $1.40-$1.55 billion and adjusted EBITDA between $365-$390 million.
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