Welcome to our dedicated page for Ingevity Corporation news (Ticker: NGVT), a resource for investors and traders seeking the latest updates and insights on Ingevity Corporation stock.
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 Corporation (NYSE:NGVT) will release its third quarter 2022 earnings on November 2, 2022, after the market close. A live webcast discussing the results will occur on November 3, 2022, at 10:00 a.m. Eastern. Investors can access the webcast here. The company, headquartered in North Charleston, South Carolina, specializes in performance chemicals and materials used in various applications, signaling its commitment to sustainability.
Ingevity Corporation (NYSE:NGVT) has completed the acquisition of Ozark Materials for
Ingevity Corporation (NYSE:NGVT) has rebranded its adsorbed natural gas vehicle business to NeuFuel, signaling a focus on facilitating cost-effective transitions to carbon-neutral fuels for diesel fleets. NeuFuel enables diesel vehicles to run on renewable natural gas, targeting markets such as school buses and delivery trucks. The company emphasizes NeuFuel's unique offer as a pathway to zero emissions for existing diesel vehicles. The product line will also integrate with American CNG’s DEMI Diesel Displacer™ for enhanced dual-fuel capabilities.
Ingevity Corporation (NYSE:NGVT) has launched its Capa® polyols production in the U.S., marking the first production of high-performance caprolactone polyols domestically. This expansion at the DeRidder, Louisiana facility increases global capacity for polyols by 40%. The investment includes enhanced storage capacity, facilitating bulk shipments to U.S. customers. The company aims to meet rising demand and improve service levels for its growing customer base. Ingevity operates globally with a focus on sustainable solutions in Performance Chemicals and Materials.
Ingevity Corporation (NYSE:NGVT) has achieved a gold sustainability rating from EcoVadis, placing it in the top 3% of the specialty chemicals sector. This advancement from a silver rating in 2021 to gold in 2022 signifies a commitment to sustainability. Key initiatives include launching a solar panel system in China, releasing an energy policy, and endorsing corporate sustainability practices by the United Nations Global Compact. The company is dedicated to enhancing its impact on the environment and society.
Nexeon has successfully completed a funding round, raising a total of US$170 million with an additional US$50 million from commercial investments. This capital will enhance its manufacturing capabilities for silicon-based anode materials, crucial for rechargeable Lithium-ion batteries. The round included participation from strategic investors like Ingevity Corporation (NYSE: NGVT) and others, reflecting strong endorsement for Nexeon's technology. Nexeon aims to meet growing demand in the electric vehicle market, targeting mass production of its battery materials.
Ingevity Corporation (NYSE: NGVT) reported record sales of $419.9 million for Q2 2022, a 17.2% increase year-over-year. Net income rose by 35.0% to $59.8 million, with diluted EPS increasing from $1.10 to $1.54. Adjusted EBITDA was $121.1 million, yielding a margin of 28.8%. The company announced a $325 million acquisition of Ozark Materials and a $60 million investment in Nexeon Limited. Despite high performance in Performance Chemicals, Performance Materials faced a 2.9% sales decline due to supply chain disruptions.
Ingevity Corporation (NYSE:NGVT) has invested $60 million to acquire an equity stake in Nexeon Limited, a leader in silicon-based anode materials for electric vehicle (EV) batteries. This investment aims to boost Ingevity's presence in the EV market and enhance its activated carbon business. The funding will support the development of Nexeon’s NSP-2 silicon anode technology, which reportedly offers four times the energy density of conventional graphite anodes, improving EV battery performance.
Ingevity Corporation (NYSE:NGVT) has announced its agreement to acquire Ozark Materials, LLC and Ozark Logistics, LLC for $325 million in cash. This acquisition, pending regulatory approval, is expected to close by early Q4 2022. Ozark Materials, a key player in pavement marking materials, is projected to generate $150 million in revenue with an EBITDA margin of 20% in 2023. Ingevity anticipates the deal will be immediately accretive to its earnings per share, enhancing its position in the paving construction industry.
Ingevity Corporation (NYSE:NGVT) has elected William Slocum and Shon Wright to its board of directors effective July 25, 2022. This transition follows the retirement of Michael Fitzpatrick, who has served since the company's inception in 2016, effective July 26, 2022. Slocum brings experience from Inclusive Capital Partners, while Wright has a strong background with Cummins Incorporated. Both new members are expected to enhance the board's expertise and contribute to Ingevity's future direction.
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