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.
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Ingevity Corporation (NYSE:NGVT) has scheduled the release of its first-quarter 2023 earnings report for May 3, 2023, after the market closes. A live webcast will be held on May 4, 2023, at 10:00 a.m. Eastern to discuss the results. Interested parties can access the webcast through Ingevity's website or by dialing in via telephone.
The replay of the conference call will be available from 2:00 p.m. Eastern on May 4, 2023, until May 3, 2024. Ingevity specializes in products and technologies that enhance sustainability across various sectors, operating in three main segments: Performance Chemicals, Advanced Polymer Technologies, and Performance Materials.
Ingevity Corporation (NYSE: NGVT) is set to host an Investor Day on May 22, 2023, from 1:00 p.m. to 4:00 p.m. Eastern time in New York City. The event will feature President and CEO John Fortson and CFO Mary D. Hall, along with segment presidents, discussing the company's long-term growth strategy and financial targets. This will be followed by a live Q&A session. Attendance is by invitation only, but a live webcast and presentation will be available on Ingevity's website. A replay will remain accessible for 12 months.
Ingevity Corporation (NYSE:NGVT) is participating in the European Coatings Show 2023 in Nuremburg, Germany, from March 27-30. The company highlights its Capa® caprolactone high-performance polyols and new vegetable oil-based products. Amanda Tosh will present a study on the sustainability benefits of Capa polyols in 2K polyurethane coatings. Steve Hulme emphasizes the versatility and durability of these polyols. Ingevity also launched the low-color AltaVeg™ FA 120, enhancing options for durable coatings. The company invites attendees to visit booth 3C-548 for more information.
Ingevity Corporation (NYSE: NGVT) reported record net sales of $1.67 billion for the full year 2022, up 19.9% from the previous year. Fourth-quarter net sales reached $383.6 million, a 14.2% increase year-over-year, despite a 47% drop in net income to $15.6 million due to customer destocking. Adjusted EBITDA for the fourth quarter was $74.3 million, with a margin of 19.4%. For 2023, Ingevity expects sales between $1.9 billion and $2.1 billion and adjusted EBITDA between $495 million and $515 million, reflecting anticipated recovery in key markets.
Ingevity Corporation (NYSE:NGVT) announced the election of Bruce Hoechner to its board of directors effective February 16, 2023. Hoechner brings significant experience, having served as president and CEO of Rogers Corporation until 2022, and previously held leadership roles at Dow Chemical and Rohm and Haas. The chair of Ingevity's board, Jean Blackwell, expressed optimism that Hoechner's expertise in international marketing and business strategy will positively impact the company's growth and sustainability initiatives. Ingevity operates in two segments: Performance Chemicals and Performance Materials, providing solutions across various industries.
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