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Sep 30, 2021
Ingevity Q3 2021 Earnings Report
Reported third quarter results, impacted by litigation verdict and microchip shortage.
Key Takeaways
Ingevity's third quarter net sales increased by 13.6% year-over-year to $376.8 million. However, the company reported a net loss of $4.2 million, which included a significant pre-tax expense for a litigation verdict. Adjusted earnings were $64.4 million, and adjusted EBITDA was $119.5 million. The company has updated its full-year guidance to sales between $1.320 billion and $1.360 billion and adjusted EBITDA between $405 million and $420 million.
Third quarter net sales increased by 13.6% to $376.8 million.
Net loss of $4.2 million includes an $85 million pre-tax expense for a litigation verdict.
Adjusted earnings were $64.4 million, with adjusted earnings per share of $1.62.
Updated full year 2021 guidance includes sales between $1.320 billion and $1.360 billion, and adjusted EBITDA between $405 million and $420 million.
Revenue by Segment
Forward Guidance
Ingevity's updated guidance for full year 2021 is sales between $1.320 billion to $1.360 billion and adjusted EBITDA between $405 million to $420 million.
Positive Outlook
- Continued strong demand for products in our Performance Chemicals portfolio
Challenges Ahead
- Ongoing shortage of microchips
- Continued logistics headwinds
- Raw materials and energy inflation to be challenges throughout the rest of the year
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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