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Dec 31, 2022
Ingevity Q4 2022 Earnings Report
Ingevity's fourth quarter results were impacted by customer destocking, but full year results showed record sales and EBITDA.
Key Takeaways
Ingevity reported a 14.2% increase in Q4 net sales to $383.6 million, but net income decreased 47% to $15.6 million due to customer destocking. Despite Q4 challenges, full year 2022 was a record year for net sales and EBITDA.
Net sales increased 14.2% to $383.6 million.
Net income decreased 47% to $15.6 million.
Adjusted EBITDA decreased 7% to $74.3 million with a margin of 19.4%.
Diluted EPS was $0.41, compared to $0.74 in the prior year quarter.
Revenue by Segment
Forward Guidance
Ingevity announced its 2023 guidance of sales between $1.9 billion to $2.1 billion and adjusted EBITDA between $495 million to $515 million.
Positive Outlook
- Expect to see order patterns normalize
- Benefit from a recovery in key end-markets such as auto and adhesives.
- Continued strength in markets such as oilfield
- Continued strength in markets such as footwear and apparel
- Continued strength in markets such as pavement, including a full year of Ozark Materials
Challenges Ahead
- 2023 kicked off to a slower start
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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