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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 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.
Ingevity Corporation (NYSE:NGVT) will release its second quarter 2022 earnings on August 2, 2022, after market close. A live webcast discussing the results will occur on August 3, 2022, at 10:00 a.m. Eastern. Investors can access the webcast from Ingevity’s website. For those unable to attend live, a recording will be available from 2:00 p.m. Eastern on the same day until August 2, 2023. Ingevity operates globally in Performance Chemicals and Performance Materials sectors, focusing on sustainable solutions.
Ingevity Corporation (NYSE:NGVT) has appointed Christine Stunyo as chief human resources officer, effective June 27, 2022. Stunyo brings over 20 years of HR experience, previously serving at Host Hotels & Resorts as senior vice president. She will lead global HR efforts focusing on organizational development, talent management, and cultural initiatives. CEO John Fortson highlighted Stunyo's expertise in enhancing diversity and inclusion, emphasizing the importance of a strong employee experience. Ingevity operates in performance chemicals and materials, with a commitment to sustainability.
Ingevity Corporation (NYSE:NGVT) has published an environmental product declaration (EPD) for its Evotherm® M1 Warm Mix Asphalt technology, establishing itself as the first chemical additive supplier included in the National Asphalt Pavement Association's Emerald Eco-Label tool. The EPD highlights compliance with environmental standards by assessing the cradle-to-gate impacts of manufacturing.
Studies show that Evotherm M1 offsets greenhouse gas emissions from its production by 18 to 23 times, promoting sustainability in asphalt production.
Ingevity Corporation (NYSE: NGVT) announced that its Capa® thermoplastic grades received the OK biodegradable MARINE certification from TÜV Austria. This certification signifies that Capa thermoplastics biodegrade entirely in marine environments within four weeks, preventing microplastic formation. With applications in bags, films, and packaging, Capa becomes one of the few bioplastics with this certification, addressing marine waste pollution. Ingevity supports global recycling efforts and aims for sustainable solutions, with additional certifications confirming Capa's environmental benefits.
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