NYSE$NGVT
Ingevity Corporation · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Reported a net loss due to a Performance Chemicals non-cash goodwill impairment charge, while Performance Materials delivered strong results.
Ingevity reported a decrease in net sales by 19% to $390.6 million, primarily due to the repositioning of its Performance Chemicals segment. The company experienced a net loss of $283.7 million, or $7.81 per share, due to a $349.1 million non-cash goodwill impairment charge in Performance Chemicals. Adjusted EBITDA decreased by 16% to $101.3 million, with a margin of 25.9%.
- Net sales decreased by 19% to $390.6 million.
- Net loss was $283.7 million, or $7.81 per share, due to a Performance Chemicals goodwill impairment.
- Adjusted EBITDA decreased by 16% to $101.3 million, with adjusted EBITDA margin of 25.9%.
- Revised full year sales guidance to between $1.40 billion and $1.50 billion, and adjusted EBITDA to between $350 million and $360 million.
Headline financials
Revenue & EPS history
Ingevity · Revenue · Quarterly
$391M
Revenue by segment
Ingevity · $446M total across 3 segments · Q3 2023
- Performance Chemicals$256M-24.1%57.4%
- Performance Materials$147M+1.6%33.0%
- Advanced Polymer Tech$42.8M—9.6%
Forward guidance
Ingevity is revising its full year sales guidance to between $1.40 billion and $1.50 billion, and adjusted EBITDA to between $350 million and $360 million.
Tailwinds
- Continued strength of Performance Materials.
- Stability of APT will help offset headwinds in Performance Chemicals.
Headwinds
- Segment results this year will be challenged as a result of high-cost CTO inventory, which we expect to work through by the end of Q1 2025.
- Lack of a rebound in industrial demand, primarily impacting the Industrial Specialties product line.
- Unfavorable weather conditions to date in North America.
- Guidance reflects some uncertainty regarding the recovery of Road Technologies volumes in the second half.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2024
+1.9%
Avg return
Earnings day
+1.9%
Avg return
5 days after
+2.2%
Avg return
30 days after
58%
26 / 45 earnings
Positive
+22.0%
Q1 2020
Best reaction
-15.8%
Q3 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -4.9% | -8.2% | -15.3% | |
| Q4 2025 | +0.3% | +1.5% | +1.4% | |
| Q3 2025 | -15.8% | -9.1% | -2.8% | |
| Q1 2025 | +0.9% | +9.8% | +7.3% | |
| Q4 2024 | +5.3% | +0.6% | -7.5% | |
| Q3 2024 | +16.5% | +17.5% | +33.5% | |
| Q2 2024 | -7.5% | -23.2% | -14.3% | |
| Q1 2024 | +7.2% | +5.3% | -4.5% | |
| Q4 2023 | +3.1% | +4.7% | +3.1% | |
| Q3 2023 | +5.0% | -0.5% | +1.1% | |
| Q2 2023 | -11.2% | -14.0% | -12.4% | |
| Q1 2023 | -8.4% | -15.9% | -26.3% | |
| Q4 2022 | -6.8% | -7.8% | -21.1% | |
| Q3 2022 | +3.6% | +8.2% | +14.1% | |
| Q2 2022 | +5.0% | +3.0% | +4.2% | |
| Q1 2022 | +9.6% | +9.2% | +19.7% | |
| Q4 2021 | +0.9% | +4.2% | -0.5% | |
| Q3 2021 | -0.6% | -0.5% | -5.6% | |
| Q2 2021 | +5.4% | +1.4% | -1.0% | |
| Q1 2021 | +4.6% | +10.2% | +10.4% | |
| Q4 2020 | -6.6% | -4.6% | +6.3% | |
| Q3 2020 | -1.4% | +0.1% | +8.9% | |
| Q2 2020 | -2.1% | +1.9% | +1.3% | |
| Q1 2020 | +22.0% | +12.2% | +23.8% | |
| Q4 2019 | -2.9% | +2.5% | -24.5% | |
| Q3 2019 | +1.7% | +2.8% | +4.6% | |
| Q2 2019 | -1.2% | -2.9% | -26.9% | |
| Q1 2019 | -10.9% | -9.8% | -23.7% | |
| Q4 2018 | +9.8% | +13.2% | +3.0% | |
| Q3 2018 | +2.3% | -0.6% | +9.8% | |
| Q2 2018 | +11.3% | +10.0% | +14.5% | |
| Q1 2018 | +2.4% | +2.7% | -0.2% | |
| Q4 2017 | +7.3% | +12.3% | +3.8% | |
| Q3 2017 | +2.2% | +5.8% | +11.0% | |
| Q2 2017 | -0.7% | +1.3% | +8.1% | |
| Q1 2017 | -6.5% | -7.2% | -5.4% | |
| Q4 2014 | +4.3% | +2.5% | +6.7% | |
| Q4 2016 | -4.6% | -6.8% | +7.0% | |
| Q3 2015 | +11.0% | +10.8% | +22.7% | |
| Q3 2016 | +7.2% | +8.3% | +21.1% | |
| Q2 2015 | +14.3% | +14.8% | +17.2% | |
| Q2 2016 | +15.8% | +15.8% | +18.4% | |
| Q1 2016 | -0.3% | — | — | |
| Q1 2015 | -0.3% | — | — | |
| Q4 2015 | -0.3% | — | — | |
| Q3 2014 | — | — | — | |
| Q2 2014 | — | — | — | |
| Q1 2014 | — | — | — |
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