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.
Quaker Houghton (NYSE: KWR) announced that Mary Dean Hall, CFO, is leaving to join Ingevity Corporation (NYSE: NGVT) as CFO, effective April 19, 2021. Shane Hostetter will be promoted to CFO, bringing extensive financial experience from his tenure since 2011. Hall expressed confidence in the company’s future and plans to remain a shareholder. The leadership transition aims to maintain stability and support ongoing growth strategies.
Ingevity Corporation (NYSE:NGVT) has appointed Mary Dean Hall as executive vice president and chief financial officer, effective April 19, 2021. Hall brings extensive experience from her previous role as CFO at Quaker Houghton and has held significant financial positions at Eastman Chemical Company. This strategic hire aims to strengthen Ingevity's finance team and support the company’s growth initiatives. CEO John C. Fortson expressed enthusiasm for Hall's contributions, citing her relevant background in the chemical industry.
Ingevity Corporation (NYSE:NGVT) has launched a webinar series aimed at educating analysts and investors about market dynamics and the company's strategic innovations over the next six months. The series includes topics such as activated carbon applications and growth opportunities in engineered polymers, with presentations from various executives. CEO John Fortson highlights the company's commitment to transparency and long-term growth. The webinars will be accessible on Ingevity’s Investor Relations site, and replays will be available for those unable to attend live.
Ingevity (NYSE: NGVT) highlights the advantages of its Nuchar® AG activated carbon technology for grass farming applications through a new video. The product enhances crop yield by protecting seedlings from excess herbicides during planting. Valley Agronomics, a supplier of herbicides, reports that Nuchar AG leads to faster application and significantly reduces crop injury by up to 85%. Testing conducted by an agricultural research firm confirms Nuchar AG's superior performance, helping farmers in regions like Oregon’s Willamette Valley.
Ingevity Corporation (NYSE: NGVT) has partnered with the City of Orlando to implement a demonstration program for adsorbed natural gas (ANG) bi-fuel vehicle technology. Orlando will integrate two ANG-equipped Ford F-150 trucks into its fleet to evaluate fuel savings and greenhouse gas (GHG) emissions reduction. ANG technology significantly lowers natural gas storage pressure, facilitating cost-effective fueling solutions. ANG vehicles can reduce GHG emissions by 25% compared to traditional fuels, and up to 125% with renewable natural gas. This initiative aligns with Orlando's commitment to sustainable energy.
Ingevity Corporation (NYSE: NGVT) is expanding its caprolactone polyol production capabilities at its DeRidder, Louisiana facility. This upgrade aims to increase global production capacity by 40% to meet rising demand for Capa® technologies used in industrial equipment and automotive applications. Construction is set to begin in summer 2021, with operations expected to commence in Q1 2022. The enhancements will improve supply chain efficiency and overall customer service while reinforcing Ingevity's commitment to innovation in the Engineered Polymers sector.
Ingevity Corporation (NYSE: NGVT) has announced the election of Jean Blackwell as the new chair of the board, following the death of former Chairman Richard B. Kelson on February 13, 2021. Blackwell, a board member since 2016, brings extensive experience, having held multiple leadership roles at Cummins Inc. and served on various corporate boards. Her appointment is expected to enhance leadership stability and strategic direction for Ingevity, particularly in its performance chemicals and materials segments, which focus on sustainability and innovative solutions.
Ingevity Corporation (NYSE: NGVT) has enhanced its activated carbon production capacity at its Zhuhai, China facility by 15-20% following recent upgrades. This increase aims to meet surging global demand for high-capacity pelletized carbon products, primarily used in gasoline vapor emissions control in vehicles. The Zhuhai plant has been operational since 2015 and supports Ingevity's position as a leader in automotive emissions control, with over 900 million units installed worldwide.
Ingevity Corporation (NYSE:NGVT) announced the passing of Richard B. Kelson, its chairman, on February 13, 2023, in New York City. Kelson had been with the company since its spin-off from WestRock in May 2016, providing significant leadership and guidance. He previously served in various high-ranking roles at Alcoa and held numerous board positions. In his memory, Ingevity will make a donation to the Penn Center for Research on Coronavirus. The board will select a new chairman in the coming days, with an announcement expected soon.
Ingevity Corporation (NYSE: NGVT) reported strong fourth quarter results for 2020, with net sales of $325.6 million, up 7.3% year-over-year. Net income rose 14.7% to $50.8 million, with diluted EPS at $1.23. The company benefitted from robust automotive sales and a shift to trucks in North America, although revenues from oilfield technologies and international paving were down. Full-year net sales decreased 5.9% to $1.216 billion, but adjusted EBITDA increased 2.4% to $397.9 million. For 2021, Ingevity's guidance projects sales of $1.25-$1.30 billion and adjusted EBITDA of $400-$420 million.
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