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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 Q4 2021 net sales of $336 million, a 3.2% increase, while FY net sales reached $1.4 billion, up 14.4%. Q4 net income was $29.3 million, down 36.3%, impacted by microchip supply constraints. Diluted EPS for Q4 stood at $0.74, compared to $1.11 in the prior year. FY diluted EPS was $2.95, reflecting an $85 million litigation charge. The company projects FY 2022 sales between $1.525 billion and $1.60 billion, with adjusted EBITDA guidance of $430 million to $460 million. Despite challenges, strong performance in the Performance Chemicals segment was noted.
Ingevity Corporation (NYSE:NGVT) will release its fourth-quarter and full-year 2021 earnings on February 23, 2022, after market close. A live webcast will follow on February 24, 2022, at 10:00 a.m. Eastern to discuss the results. Interested parties can access the webcast on the company's investor website. Ingevity focuses on products that purify and enhance the environment, operating in two segments: Performance Chemicals and Performance Materials. The company is headquartered in North Charleston, South Carolina, and employs approximately 1,850 people.
Ingevity Corporation (NYSE:NGVT) announced the retirement of Mike Smith, effective March 1, 2022, from his roles as executive vice president and president of Performance Chemicals. Rich White and Steve Hulme will co-lead the Performance Chemicals segment starting January 1, 2022. White will become senior vice president and president of Industrial Specialties, while Hulme will take the role of senior vice president and president of Engineered Polymers. The executive transition is aimed at sustaining growth in the segment.
Ingevity Corporation (NYSE:NGVT) reported third quarter 2021 net sales of $376.8 million, reflecting a 13.6% increase year-over-year. The company experienced a net loss of $4.2 million due to an $85 million pre-tax litigation expense. Adjusted earnings reached $64.4 million, with adjusted EPS of $1.62. Adjusted EBITDA was $119.5 million, a decline of 6.3%. The revised full-year guidance for sales is projected between $1.320 billion and $1.360 billion with adjusted EBITDA of $405 million to $420 million. The company cited challenges from the ongoing microchip shortage impacting automotive production.
Ingevity Corporation (NYSE:NGVT) announced plans to enhance caprolactone monomer capacity at its Warrington, U.K. facility, projecting a capacity increase of over 20% within the next year. This expansion aims to meet rising demand for the Capa® portfolio in engineered polymers. The initiative follows previous announcements regarding a new innovation center in Warrington and polyol production expansion in DeRidder, Louisiana. Ingevity's strategic investments in capacity and innovation seek to improve service reliability and customer support globally.
Ingevity Corporation (NYSE:NGVT) will release its third quarter earnings after market close on
Ingevity Corporation (NYSE:NGVT) plans to appeal a jury verdict from September 15, 2021, which ordered them to pay approximately $28 million for alleged anticompetitive practices related to their patent enforcement on automotive gasoline vapor emissions control systems. This amount is subject to tripling under U.S. antitrust law, totaling around $85 million. Despite the verdict, Ingevity does not anticipate immediate commercial impact and asserts confidence in its intellectual property. The company emphasizes that the ruling does not affect other critical patents related to low-emission technologies.
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