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Sep 30, 2024
Ingevity Q3 2024 Earnings Report
Reported a net loss due to restructuring charges and contract termination fees, but saw strength in Performance Materials and Advanced Polymer Technologies.
Key Takeaways
Ingevity reported a 16% decrease in net sales to $376.9 million, primarily due to repositioning actions in Performance Chemicals. The company experienced a net loss of $107.2 million, which includes significant restructuring charges and contract termination fees. However, adjusted earnings were $40.2 million, with an adjusted EPS of $1.10. The company affirms its full-year guidance for sales and adjusted EBITDA.
Net sales decreased by 16% year-over-year to $376.9 million.
Net loss was $107.2 million, impacted by restructuring and contract termination costs.
Adjusted EBITDA was $106.4 million with a margin of 28.2%.
Full year guidance affirmed with sales expected between $1.40 billion and $1.50 billion, and adjusted EBITDA between $350 million and $360 million.
Revenue by Segment
Forward Guidance
Ingevity is affirming its full year 2024 guidance of sales between $1.40 billion and $1.50 billion and adjusted EBITDA between $350 million and $360 million.
Positive Outlook
- Positive impact from Performance Chemicals segment repositioning.
- Focus on maximizing benefits of strategy through execution.
- Sales between $1.40 billion and $1.50 billion.
- Adjusted EBITDA between $350 million and $360 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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