Earnings ·
Ingevity reports Q3 EPS of $1.46, narrows full-year adjusted EBITDA outlook to $385M-$395M
NGVTIngevity Corp
Ingevity reported third-quarter net income from continuing operations of $51.1 million, or $1.46 per diluted share, compared to $40.8 million in the prior year period. Net sales decreased 8% to $305.1 million, primarily due to the divestiture of the Road Markings product line; excluding that business, sales increased 2%. Adjusted EBITDA from continuing operations was $108.0 million with a margin of 35.4%. The company narrowed its full-year adjusted EBITDA guidance to a range of $385 million to $395 million while maintaining the midpoint of its previous outlook. Ingevity is a global specialty materials company that develops advanced carbon and engineered materials solutions for mobility, infrastructure, and industrial processes.