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NORTH CHARLESTON, S.C.--(BUSINESS WIRE)--Ingevity will participate in a fireside chat during the 2026 Jefferies Industrials Conference.

Key Takeaways Ingevity raised its 2026 adjusted EPS outlook to $5-$5.45 and EBITDA forecast to $380-$400 million.Portfolio divestitures and stranded-cost cuts are sharpening Ingevity's focus on higher-return opportunities.PFAS filtration, caprolactone and polyol expansion, and hybrid demand are opening new growth avenues. Ingevity Corporation (NGVT - Free Report) is benefiting from investments in high-return opportunities and development of new growth avenues.

We are positive about NGVT’s prospects and believe that the time is right for you to add the stock to the portfolio, as it looks promising and is poised to carry the momentum ahead.

Let's see what makes NGVT stock an attractive investment option at the moment.

Positive Analyst Sentiment for NGVT StockEarnings estimates for NGVT have been going up over the past 30 days. The Zacks Consensus Estimate for fiscal 2026 has increased by 6.9%. The consensus estimate for fiscal 2027 has also been revised 1.7% upward over the same time frame. The favorable estimate revisions instill investor confidence in the stock.

The Zacks Consensus Estimate for NGVT’s 2026 earnings is pegged at $5.40, suggesting a 30.75% increase from the previous year’s tally. Earnings are projected to increase by 9.26% in 2027.

Image Source: Zacks Investment Research

NGVT’s Superior Return on Equity (ROE)ROE is a measure of a company’s efficiency in utilizing shareholders’ funds. ROE for the trailing 12-months for Ingevity is 284.7%, above the industry’s level of 22.1%.

Image Source: Zacks Investment Research

Upbeat OutlookIngevity raised its full-year 2026 adjusted earnings guidance to $5-$5.45 per share from the previous projection of $4.7-$5.2. The company also increased its adjusted EBITDA forecast to $380-$400 million from $370-$395 million. The company continues to expect full-year net sales of $1.05-$1.15 billion. Free cash flow is now projected at $220-$245 million, excluding the $113.2 million litigation settlement payment compared with the prior outlook of $215-$245 million.

An OutperformerIngevity shares have gained 20.3% against the industry’s decline of 0.9% in the past year.

Image Source: Zacks Investment Research

Portfolio Transformation and New Growth Platforms Support NGVTIngevity’s ongoing portfolio transformation is improving the prospects of its business and sharpening its focus on higher-return opportunities. The company has completed the divestitures of Industrial Specialties and Road Markings, while the divestiture process for Advanced Polymer Technologies is now progressing steadily. It has also eliminated $10 million of approximately $20 million in stranded costs associated with the divestitures, providing an additional structural cost benefit.

The company is also developing newer avenues that could support growth over time. Ingevity secured its first municipal water-treatment contract for PFAS filtration, a significant commercial validation. Its differentiated performance and lower-cost, drop-in potential of its carbon technology address PFAS requirements. The company is also expanding the monomer production capacity of caprolactone in Warrington and increasing the polyol capacity at its DeRidder plant.

Meanwhile, the structural shift toward hybrid vehicles is strengthening Ingevity’s Performance Materials segment. Hybrids require more advanced carbon solutions and generate a higher-value product mix, supporting the segment’s long-term competitive positioning.

Finally, disciplined capital allocation retains Ingevity’s lucrativeness. Leverage has reached 2.5X, while the company continues to reduce debt and invest in high-return opportunities. Ingevity repurchased $35 million of shares in the second quarter and remains committed to its $300 million repurchase program through 2027, providing an additional tailwind for the stock.

NGVT’s Zacks Rank & Other Key PicksNGVT currently carries a Zacks Rank #2 (Buy).

Some other top-ranked stocks in the Basic Materials space are Neo Performance Materials Inc. (NOPMF - Free Report) , Carpenter Technology Corporation (CRS - Free Report) and Avient Corporation (AVNT - Free Report) .

While NOPMF currently sports a Zacks Rank #1 (Strong Buy), CRS and AVNT carry a Zacks Rank #2 each. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for NOPMF’s 2026 earnings is pinned at $1.4 per share, indicating a 185.71% year-over-year increase. NOPMF’sshares have gained 93% over the past year.

The Zacks Consensus Estimate for CRS’ fiscal 2027 earnings is pegged at $12.92 per share, indicating a rise of 20.07% year over year. Its earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with an average surprise of 8.39%.

The Zacks Consensus Estimate for AVNT’s current-year earnings is pinned at $3.2 per share, indicating a 13.48% year-over-year increase. Its earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with an average surprise of 3.4%. AVNT’sshares have gained 19.6% over the past year.

A month has gone by since the last earnings report for Ingevity (NGVT - Free Report) . Shares have lost about 0.6% in that time frame, underperforming the S&P 500.

Will the recent negative trend continue leading up to its next earnings release, or is Ingevity due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the latest earnings report in order to get a better handle on the important catalysts.

Ingevity’sQ2 Earnings Beat on Pricing, Mix and Higher VolumesIngevity reported second-quarter 2026 adjusted earnings of $1.74 per share, up 42.6% year over year, beating the Zacks Consensus Estimate of $1.31 by 32.8%.

Revenues declined 5.2% to $314.1 million but surpassed the consensus mark of $299.4 million by 4.9%. Excluding the divested Road Markings business, sales rose 5%. Higher pricing, favorable product mix and increased volumes lifted adjusted EBITDA margin to 36.6%.

Segmental ReviewPerformance Materials generated net sales of $160.6 million, up 4.4% from $153.9 million in the prior-year quarter. The segment’s EBITDA increased 6.3% year over year to $86.1 million. Higher volumes, improved price and mix, and stronger plant utilization more than offset increased selling, general and administrative and other expenses.

The company’s Performance Chemicals operations are now represented by the Pavement Technologies segment following the Road Markings divestiture. Pavement Technologies’ net sales fell 22.4% year over year to $104.2 million, primarily because the Road Markings product line was sold on April 15, 2026. Segment EBITDA declined to $25.4 million from $28.8 million because the prior-year quarter included $6 million of Road Markings EBITDA. Improved pricing and volumes in the remaining business partly offset the lost contribution.

Advanced Polymer Technologies posted net sales of $49.3 million, up 13.9% from $43.3 million. Segment EBITDA jumped to $11.2 million from $2 million. Improved product mix and higher plant utilization supported the increase, as the year-ago period included extended downtime related to new boiler installations.

FinancialsNet cash used in operating activities was $13.8 million in the second quarter. Free cash flow totaled $89.1 million. Ingevity repurchased approximately $35 million of common stock during the quarter at a weighted average price of $70.94 per share. Roughly $211 million remained available under the company’s existing share-repurchase authorization at the end of the period. Net leverage improved to 2.5 times from 3 times in the prior-year quarter and also declined from the first quarter of 2026. Cash and cash equivalents stood at $97.4 million as of June 30, 2026.

OutlookIngevity raised its full-year 2026 adjusted earnings guidance to $5-$5.45 per share from the previous projection of $4.7-$5.2. The company also increased its adjusted EBITDA forecast to $380-$400 million from $370-$395 million. The company continues to expect full-year net sales of $1.05-$1.15 billion. Free cash flow is now projected at $220-$245 million, excluding the $113.2 million litigation settlement payment, compared with the prior outlook of $215-$245 million. Ingevity intends to use its projected cash generation to reduce leverage to its long-term target range of 2-2.5 times and return capital to shareholders.

How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a downward trend in fresh estimates.

VGM ScoresAt this time, Ingevity has a average Growth Score of C, a grade with the same score on the momentum front. Charting a somewhat similar path, the stock was allocated a grade of B on the value side, putting it in the top 40% for this investment strategy.

Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.

OutlookEstimates have been broadly trending downward for the stock, and the magnitude of this revision indicates a downward shift. Interestingly, Ingevity has a Zacks Rank #2 (Buy). We expect an above average return from the stock in the next few months.

Performance of an Industry PlayerIngevity belongs to the Zacks Chemical - Specialty industry. Another stock from the same industry, Element Solutions (ESI - Free Report) , has gained 2.5% over the past month. More than a month has passed since the company reported results for the quarter ended June 2026.

Element Solutions reported revenues of $977.9 million in the last reported quarter, representing a year-over-year change of +56.4%. EPS of $0.47 for the same period compares with $0.37 a year ago.

For the current quarter, Element Solutions is expected to post earnings of $0.48 per share, indicating a change of +17.1% from the year-ago quarter. The Zacks Consensus Estimate has changed +3.3% over the last 30 days.

The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Element Solutions. Also, the stock has a VGM Score of D.

Key Takeaways Ingevity's Q2 adjusted EPS rose 42.6% to $1.74, while revenues beat estimates at $314.1 million.Pricing, product mix and higher volumes lifted adjusted EBITDA margin to 36.6% despite lower sales.Ingevity raised 2026 EPS guidance to $5-$5.45 and EBITDA guidance to $380-$400 million. Ingevity Corporation (NGVT - Free Report) reported second-quarter 2026 adjusted earnings of $1.74 per share, up 42.6% year over year and above the Zacks Consensus Estimate of $1.31 by 32.8%.

Revenues declined 5.2% to $314.1 million but surpassed the consensus mark of $299.4 million by 4.9%. Excluding the divested Road Markings business, sales rose 5%. Higher pricing, favorable product mix and increased volumes lifted adjusted EBITDA margin to 36.6%.

Segmental ReviewPerformance Materials generated net sales of $160.6 million, up 4.4% from $153.9 million in the prior-year quarter. The segment’s EBITDA increased 6.3% year over year to $86.1 million. Higher volumes, improved price and mix, and stronger plant utilization more than offset increased selling, general and administrative and other expenses.

The company’s Performance Chemicals operations are now represented by the Pavement Technologies segment following the Road Markings divestiture. Pavement Technologies’ net sales fell 22.4% year over year to $104.2 million, primarily because the Road Markings product line was sold on April 15, 2026. Segment EBITDA declined to $25.4 million from $28.8 million because the prior-year quarter included $6 million of Road Markings EBITDA. Improved pricing and volumes in the remaining business partly offset the lost contribution.

Advanced Polymer Technologies posted net sales of $49.3 million, up 13.9% from $43.3 million. Segment EBITDA jumped to $11.2 million from $2 million. Improved product mix and higher plant utilization supported the increase, as the year-ago period included extended downtime related to new boiler installations.

FinancialsNet cash used in operating activities was $13.8 million in the second quarter. Free cash flow totaled $89.1 million. NGVT repurchased approximately $35 million of common stock during the quarter at a weighted average price of $70.94 per share. Roughly $211 million remained available under the company’s existing share-repurchase authorization at the end of the period. Net leverage improved to 2.5 times from 3 times in the prior-year quarter and also declined from the first quarter of 2026. Cash and cash equivalents stood at $97.4 million as of June 30, 2026.

OutlookIngevity raised its full-year 2026 adjusted earnings guidance to $5-$5.45 per share from the previous projection of $4.7-$5.2. The company also increased its adjusted EBITDA forecast to $380-$400 million from $370-$395 million. The company continues to expect full-year net sales of $1.05-$1.15 billion. Free cash flow is now projected at $220-$245 million, excluding the $113.2 million litigation settlement payment, compared with the prior outlook of $215-$245 million. Ingevity intends to use its projected cash generation to reduce leverage to its long-term target range of 2-2.5 times and return capital to shareholders.

NGVT Stock’s Price PerformanceShares of Ingevity have gained 52.7% in a year compared with the industry’s 5.6% growth.

Image Source: Zacks Investment Research

NGVT’s Rank & Key PicksNGVT currently has a Zacks Rank #3 (Hold).

Some better-ranked stocks in the basic materials space are Neo Performance Materials Inc. (NOPMF - Free Report) ,Almonty Industries Inc. (ALM - Free Report) and Skeena Resources Limited (SKE - Free Report) .

Neo Performance is slated to report second-quarter 2026 results on Aug. 11. The Zacks Consensus Estimate for earnings is pegged at 50 cents per share. NOPMF sports a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here. 

Almonty is expected to report second-quarter 2026 results on Aug. 13. The Zacks Consensus Estimate for ALM’s second-quarter earnings per share is pegged at 10 cents, indicating 300% year-over-year growth. ALM carries a Zacks Rank #2 (Buy) at present.

Skeena is expected to report second-quarter 2026 results on Aug. 13. The consensus estimate for SKE’s loss per share is pegged at 11 cents. SKE presently carries a Zacks Rank #2.

NORTH CHARLESTON, S.C.--(BUSINESS WIRE)--Ingevity Corporation (NYSE:NGVT) today announced it has published its 2025 Sustainability Report featuring the company's advanced materials and technologies that help customers achieve environmental goals while supporting critical industries worldwide.

The report, titled “A Decade of Performance, a Future of Possibility,” highlights how Ingevity’s products and operations create measurable value for customers and stakeholders. The report showcases technologies that reduce emissions, extend infrastructure life, support cleaner water and incorporate renewable raw materials.

"As we mark a decade as a public company, our sustainability approach is grounded in performance, making a positive impact in the communities we serve, prioritizing safety and delivering solutions that matter to our customers," said Dave Li, Ingevity president and CEO. “This report demonstrates how our products, people and operations continue to advance our purpose to purify, protect and enhance the world around us while creating long-term value for our stakeholders."

Ingevity’s 2025 Sustainability Report, Global Reporting Initiative (GRI) and Sustainability Accounting Standards Board (SASB) indices outline efforts to support a global vision for a more sustainable world. Except as expressly indicated otherwise, the information in the Sustainability Report and indices given is as of the date of publication, July 31, 2026.

Ingevity: Purify, Protect and Enhance

Ingevity (NYSE: NGVT) is a global specialty materials company that develops advanced carbon and engineered materials solutions that improve mobility, strengthen and extend the life of infrastructure and enhance industrial processes. With a 90‑year legacy of innovation, we work closely with customers to solve technical challenges and deliver materials that improve performance and environmental outcomes in essential applications. Our portfolio includes Performance Materials activated carbon technologies for emissions control and filtration; Pavement Technologies solutions for high-performance pavement applications and dispersants for crop protection; and Advanced Polymer Technologies specialty polymers for coatings and industrial applications. Headquartered in North Charleston, South Carolina, Ingevity operates from 17 locations worldwide and employs approximately 1,400 people. Learn more at ingevity.com.

Posted by Defense World Staff on Jul 31st, 2026

Bank of New York Mellon Corp reduced its stake in shares of Ingevity Corporation (NYSE:NGVT – Free Report) by 6.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 211,002 shares of the company’s stock after selling 13,808 shares during the quarter. Bank of New York Mellon Corp owned about 0.60% of Ingevity worth $15,030,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of NGVT. Global Retirement Partners LLC acquired a new stake in shares of Ingevity in the 4th quarter valued at $27,000. Meeder Asset Management Inc. acquired a new position in shares of Ingevity during the fourth quarter valued at $33,000. Kestra Advisory Services LLC bought a new position in Ingevity in the fourth quarter valued at about $47,000. Geneos Wealth Management Inc. increased its position in Ingevity by 85.8% in the second quarter. Geneos Wealth Management Inc. now owns 838 shares of the company’s stock worth $36,000 after purchasing an additional 387 shares during the period. Finally, Headlands Technologies LLC acquired a new stake in Ingevity in the second quarter worth about $46,000. Institutional investors own 91.59% of the company’s stock.

Ingevity Stock Performance Shares of NGVT stock opened at $70.02 on Friday. Ingevity Corporation has a 52 week low of $39.74 and a 52 week high of $79.29. The company has a debt-to-equity ratio of 27.83, a quick ratio of 0.92 and a current ratio of 1.42. The company’s 50 day moving average price is $71.63 and its two-hundred day moving average price is $70.95. The company has a market capitalization of $2.43 billion, a P/E ratio of 47.63 and a beta of 1.16.

Ingevity (NYSE:NGVT – Get Free Report) last released its earnings results on Wednesday, July 29th. The company reported $1.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.41. Ingevity had a return on equity of 261.97% and a net margin of 4.65%.The firm had revenue of $314.10 million during the quarter, compared to analysts’ expectations of $312.20 million. Ingevity has set its FY 2026 guidance at 5.000-5.450 EPS. On average, analysts expect that Ingevity Corporation will post 5.05 earnings per share for the current fiscal year.

Insider Buying and Selling In other news, SVP Terrance M. Dyer sold 496 shares of the stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $68.49, for a total transaction of $33,971.04. Following the completion of the transaction, the senior vice president directly owned 7,202 shares in the company, valued at $493,264.98. This represents a 6.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.88% of the company’s stock.

Key Ingevity News Here are the key news stories impacting Ingevity this week:

Positive Sentiment: Quarterly earnings beat expectations. Ingevity reported second-quarter EPS of $1.74, above analyst estimates ranging from $1.31 to $1.33 and up from $1.39 a year earlier. Revenue of $314.1 million also exceeded the $312.2 million consensus estimate. Ingevity Tops Q2 Earnings and Revenue Estimates Positive Sentiment: Full-year 2026 adjusted EPS guidance was raised. The company now expects adjusted EPS of $5.00 to $5.45, above the prior outlook and higher than the roughly $4.95-$5.05 analyst consensus range. Ingevity also increased its full-year adjusted EBITDA outlook following a solid start to the year. Ingevity’s Q2 Adjusted Earnings Increase, Net Sales Decline; 2026 Adjusted EPS Outlook Raised Neutral Sentiment: Revenue guidance remains broadly in line with expectations. Ingevity maintained 2026 revenue guidance of approximately $1.1 billion to $1.2 billion, compared with consensus expectations near $1.1 billion. Ingevity Reports Second Quarter 2026 Financial Results Negative Sentiment: Net sales declined year over year. Although quarterly revenue edged past estimates, the year-over-year sales decline creates concern about underlying demand and may offset some of the benefit from stronger earnings guidance. The company also reported a negative net margin, adding to investor caution. Analyst Upgrades and Downgrades A number of research analysts have issued reports on NGVT shares. Wall Street Zen upgraded shares of Ingevity from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ingevity in a research note on Friday, July 17th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Ingevity currently has a consensus rating of “Hold” and a consensus target price of $80.00.

Read Our Latest Stock Analysis on Ingevity

About Ingevity (Free Report)

Ingevity Corporation, traded as NGVT, is a specialty chemicals and performance materials company headquartered in North Charleston, South Carolina. The company operates two primary business units: Performance Chemicals and Performance Materials. The Performance Chemicals segment produces and markets specialty chemicals derived largely from wood and other natural feedstocks, including rosin acids, tall oil fatty acids and esters, as well as specialty petroleum resins. These products serve a broad range of industries, including paper, adhesives, coatings, oilfield drilling and consumer goods.

The Performance Materials segment develops and manufactures activated carbon products and composites for applications such as automotive emissions control, industrial air and water purification, and spill containment.

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Ingevity (NGVT - Free Report) came out with quarterly earnings of $1.74 per share, beating the Zacks Consensus Estimate of $1.31 per share. This compares to earnings of $1.39 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +32.82%. A quarter ago, it was expected that this company would post earnings of $0.84 per share when it actually produced earnings of $1.15, delivering a surprise of +36.9%.

Over the last four quarters, the company has surpassed consensus EPS estimates two times.

Ingevity, which belongs to the Zacks Chemical - Specialty industry, posted revenues of $314.1 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 4.91%. This compares to year-ago revenues of $365.1 million. The company has topped consensus revenue estimates two times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Ingevity shares have added about 25.9% since the beginning of the year versus the S&P 500's gain of 8.5%.

What's Next for Ingevity?While Ingevity has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Ingevity was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.64 on $304.7 million in revenues for the coming quarter and $5.05 on $1.12 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Chemical - Specialty is currently in the top 38% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Another stock from the same industry, Linde (LIN - Free Report) , has yet to report results for the quarter ended June 2026. The results are expected to be released on July 31.

This gas supplier is expected to post quarterly earnings of $4.49 per share in its upcoming report, which represents a year-over-year change of +9.8%. The consensus EPS estimate for the quarter has been revised 0.6% higher over the last 30 days to the current level.

Linde's revenues are expected to be $8.96 billion, up 5.5% from the year-ago quarter.

Key Takeaways Ingevity's Evotherm P35 gained BASt approval for warm-mix asphalt use in Germany.Years of testing confirmed the product's durability and long-term performance under real-world conditions.Bio-based materials support performance and environmental goals in pavement applications. Ingevity Corporation (NGVT - Free Report) announced that its Evotherm P35 warm-mix additive has received approval from BASt, Germany's Federal Highway Research Institute, indicating that it meets the institute’s stringent quality standards. The approval allows the additive to be used in warm-mix asphalt applications and validates it for use in one of Europe's most demanding regulatory environments.

The approval follows several years of technical evaluation, performance testing and comparison with conventional hot-mix asphalt. The testing was conducted under real-world traffic and environmental conditions. The results met BASt's durability and long-term performance standards required for use on federal projects in Germany.

The certification strengthens Ingevity's position in the European pavement technologies market, where regulatory requirements for infrastructure materials are particularly demanding. It also demonstrates the company's ability to tailor its technologies to meet regional specifications while maintaining high performance standards. Evotherm P35 aligns with Germany's performance, environmental and regulatory priorities, highlighting the company’s formulation expertise and capability to satisfy complex technical requirements.

Evotherm P35 incorporates bio-based materials designed to improve performance while supporting environmental objectives, reinforcing the company's Pavement Technologies business.

NGVT’s shares have gained 62.8% over the past year compared with the industry’s 3.2% growth.

Image Source: Zacks Investment Research

NGVT’s Zacks Rank & Key PicksIngevity currently carries a Zacks Rank #3 (Hold). 

Some better-ranked stocks in the Basic Materials space are Kronos Worldwide, Inc. (KRO - Free Report) , Carpenter Technology Corporation (CRS - Free Report) and Albemarle Corporation (ALB - Free Report) .

While KRO and CRS currently sport a Zacks Rank #1 (Strong Buy) each, ALB carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for KRO’s 2026 loss is pinned at 33 cents per share, indicating a 65.63% year-over-year increase. Its earnings beat the Zacks Consensus Estimate in one of the trailing four quarters and missed the remaining three. KROshares have gained 7.1% over the past year.

The Zacks Consensus Estimate for CRS’ 2026 earnings is pegged at $10.56 per share, indicating a rise of 41.18% year over year. Its earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with an average surprise of 8.95%.

The Zacks Consensus Estimate for ALB’s current fiscal-year earnings is pinned at $13.06 per share, indicating a 1,753% year-over-year increase. Its earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed once, with an average surprise of 74.5%. ALB’s shares have gained 55% over the past year.

Key Takeaways Ingevity shares have surged 24.8% YTD, outperforming the specialty chemicals industry's 18.1% gain.NGVT is streamlining via divestitures, acquisitions and cost cuts to improve margins and earnings quality.NGVT benefits from hybrid demand, boosting activated carbon sales and Performance Materials growth. Ingevity Corporation (NGVT - Free Report) shares have rallied 24.8% year to date. The company has also outperformed the Zacks Chemical - Specialty industry’s 18.1% growth over the same time frame. The rally has been driven by Ingevity's successful portfolio optimization strategy, improving demand for higher-value hybrid vehicle applications and pricing actions that have strengthened earnings growth and reinforced confidence in the company’s long-term growth outlook.

Image Source: Zacks Investment Research

Let’s take a look at the factors that are driving NGVT stock. 

Portfolio Optimization & Hybrid Vehicle Demand Drive GrowthIngevity is benefiting from its ongoing portfolio optimization and simplification strategy, which is aimed at sharpening its focus on higher-margin businesses and improving overall earnings quality. The company has made significant progress by divesting its Industrial Specialties business, Ozark Materials Road Markings product line and crude tall oil refinery, while continuing the divestiture process for its Advanced Polymer Technologies business. The company has recently completed the sale of its Ozark Road Markings business for approximately $65 million as part of these initiatives.

Additionally, value-creating acquisitions such as Georgia-Pacific’s pine chemicals business have driven earnings and revenue growth. The company has also undertaken actions to lower costs and boost profitability. The ability of NGVT to offset inflation through pricing power also enabled solid financial results despite an uncertain macroeconomic environment.

Alongside the portfolio transformation actions, Ingevity is benefiting from the adoption of hybrid vehicles. Following the expiration of EV tax credits, consumer preference has shifted toward hybrids, which has increased the long-term role of advanced and higher-value activated carbon solutions. This favorable product mix, combined with pricing actions, drove higher sales and stronger margins in Ingevity’s strongest segment, Performance Materials. Management also expects the transition toward hybrids to become a broader global trend, creating a long-term growth opportunity for its high-margin Performance Materials business.

Together, the company's strategic portfolio optimization and increasing exposure to higher-value hybrid vehicle applications position it for stronger earnings growth, improved profitability and sustainable shareholder value creation.

NGVT’s Zacks Rank & Other Key PicksNGVT currently carries a Zacks Rank #2 (Buy). 

Some other top-ranked stocks in the Basic Materials space are Albemarle Corporation (ALB - Free Report) , Carpenter Technology Corporation (CRS - Free Report) and Avino Silver & Gold Mines Ltd. (ASM - Free Report) .

While ALB sports a Zacks Rank #1 (Strong Buy) at present, CRS and ASM carry a Zacks Rank #2 each. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for ALB’s 2026 earnings is pinned at $12.98 per share, indicating a 1,743.04% year-over-year increase. Its earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed one, with an average surprise of 74.5%. ALB’s shares have jumped 90.5% over the past year.

The Zacks Consensus Estimate for CRS’ 2026 earnings is pegged at $10.56 per share, indicating a rise of 41.18% year over year. Its earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with an average surprise of 8.95%.

The Zacks Consensus Estimate for ASM’s current fiscal-year earnings is pinned at 34 cents per share, indicating a 17.24% year-over-year increase. Its earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with an average surprise of 125%. ASM’sshares have gained 86.4% over the past year.

On February 17, 2026, EVR Research disclosed a new position in Ingevity (NGVT +2.95%), acquiring 100,000 shares worth $5.92 million.

What happenedIn a U.S. Securities and Exchange Commission (SEC) filing dated February 17, 2026, EVR Research reported initiating a new position in Ingevity by purchasing 100,000 shares during the fourth quarter. The fund's quarter-end position in NGVT was valued at $5.92 million, reflecting the full size of the new stake.

What else to knowThis was a new position for the fund, representing 3.19% of its $185.31 million in reportable U.S. equity assets as of December 31, 2025.Top holdings after the filing:NYSE:DAN: $17.34 million (9.4% of AUM)NYSE:WKC: $17.34 million (9.4% of AUM)NYSE:CPS: $12.31 million (6.6% of AUM)NYSE:GEF: $11.85 million (6.4% of AUM)NYSE:MEC: $11.33 million (6.1% of AUM)As of Wednesday, Ingevity shares were priced at $68.56, up 56% over the past year and well outperforming the S&P 500’s roughly 19% gain in the same period.Company overviewMetricValuePrice (as of Monday)$68.56Market capitalization$2.5 billionRevenue (TTM)$1.17 billionNet income (TTM)($150.3 million)Company snapshotEVR Research produces specialty chemicals and activated carbon materials, with key products including hardwood-based activated carbon for emissions control and chemicals derived from crude tall oil and lignin.The company operates a dual-segment business model: Performance Materials generates revenue from engineered carbon products for automotive and industrial applications, while Performance Chemicals targets pavement technologies, industrial specialties, and engineered polymers.It serves automotive OEMs, industrial manufacturers, and infrastructure customers across North America, Asia Pacific, Europe, the Middle East, Africa, and South America.Ingevity is a specialty chemicals company with a global footprint and a focus on engineered carbon solutions and performance chemicals. The company leverages proprietary technologies to address emissions control, industrial processing, and infrastructure needs, supporting diverse end markets.

What this transaction means for investorsEVR Research just added targeted cyclical exposure at a time when investors are getting more selective about where growth actually shows up in the real economy. Within a portfolio already tilted toward industrial and materials names, this position fits cleanly alongside holdings tied to manufacturing, infrastructure, and auto demand, rather than high-multiple tech bets.

Ingevity’s activated carbon and specialty chemicals businesses are tied directly to emissions standards, infrastructure spending, and industrial production, which tend to hold up better than expected when economic momentum stabilizes, and the company’s recent performance reflects that, with shares up roughly 56% over the past year and comfortably beating the broader market. In its latest earnings report, Ingevity pointed to adjusted EBITDA of $373 million last year, which was consistent with 2024 levels despite broader uncertainty tied to tariffs and supply chain disruptions.

At just over 3% of assets, this isn’t quite a top holding, but it does suggest conviction in the stock. Ultimately, it seems this is a durable bet for an investor focused on just that.

Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

It has been about a month since the last earnings report for Ingevity (NGVT - Free Report) . Shares have added about 1.2% in that time frame, outperforming the S&P 500.

But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Ingevity due for a pullback? Well, first let's take a quick look at its most recent earnings report in order to get a better handle on the recent drivers for Ingevity Corporation before we dive into how investors and analysts have reacted as of late.

Ingevity Reports Losses in Q4, Missing Estimates, Revenues Dip Y/YIngevity recorded a fourth-quarter 2025 loss of $84.6 million, or a loss of $2.37 per share. This compared unfavorably with an income of $16.6 million or 46 cents per share in the year-ago quarter.

Excluding one-time items, adjusted earnings (from continuing operations) in the quarter were 58 cents per share, down from 95 cents a year ago. The figure missed the Zacks Consensus Estimate of 74 cents per share.

Revenues from continuing operations fell 3% year over year to $255.1 million in the quarter. This decline was due to lower sales in Advanced Polymer Technologies and Performance Materials.

Segmental ReviewThe Performance Chemicals division generated revenues of $67.4 million in the reported quarter, up around 6.5% year over year. Industrial Specialties’ product line was excluded. Road Technologies saw a volume growth, driven by an extended paving season. Earnings before interest, taxes, depreciation and amortization (EBITDA) for the segment declined to a negative $1.2 million as a result of competitive pricing pressure in Road Markings.

Revenues in the Performance Materials unit fell around 3% year over year to $151.2 million. This was a result of lower sales in North America from supply chain disruptions in the auto industry. Segment EBITDA was $78 million, down 4.5% year over year, impacted by lower global auto production driven by tariff uncertainty and supply chain challenges.

Sales in the Advanced Polymer Technologies segment were down 17% to $36.5 million due to dampened demand. Segment EBITDA was $5.5 million, down 21% due to lower volumes.

FinancialsThe fourth-quarter operating cash flow was $97.1 million, with free cash flow of $73.5 million. There were share repurchases of $31 million during the quarter, leaving $297 million remaining under the current share repurchase authorization. Net leverage improved to 2.6x from the previous quarter’s 2.7x.

OutlookIngevity expects full-year 2026 sales between $1.1 billion and $1.2 billion. Adjusted EBITDA guidance is between $380 million and $400 million, with adjusted EPS between $4.80 to $5.20. The company expects free cash flow between $225 million and $250 million in 2026.

How Have Estimates Been Moving Since Then?Analysts were quiet during the last two month period as none of them issued any earnings estimate revisions.

VGM ScoresAt this time, Ingevity has a nice Growth Score of B, though it is lagging a lot on the Momentum Score front with a D. Charting a somewhat similar path, the stock was allocated a score of C on the value side, putting it in the middle 20% for value investors.

Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.

Outlook Ingevity has a Zacks Rank #4 (Sell). We expect a below average return from the stock in the next few months.

Performance of an Industry PlayerIngevity belongs to the Zacks Chemical - Specialty industry. Another stock from the same industry, Celanese (CE - Free Report) , has gained 25.3% over the past month. More than a month has passed since the company reported results for the quarter ended December 2025.

Celanese reported revenues of $2.2 billion in the last reported quarter, representing a year-over-year change of -7%. EPS of $0.67 for the same period compares with $1.45 a year ago.

For the current quarter, Celanese is expected to post earnings of $0.81 per share, indicating a change of +42.1% from the year-ago quarter. The Zacks Consensus Estimate has changed -0.2% over the last 30 days.

Celanese has a Zacks Rank #5 (Strong Sell) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of C.

Posted by Defense World Staff on Apr 6th, 2026

Allspring Global Investments Holdings LLC bought a new stake in Ingevity Corporation (NYSE:NGVT – Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 134,517 shares of the company’s stock, valued at approximately $8,083,000. Allspring Global Investments Holdings LLC owned approximately 0.37% of Ingevity at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Ingevity by 311.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 600,380 shares of the company’s stock worth $23,769,000 after purchasing an additional 454,579 shares during the last quarter. Simcoe Capital Management LLC raised its position in shares of Ingevity by 188.8% during the 2nd quarter. Simcoe Capital Management LLC now owns 624,935 shares of the company’s stock valued at $26,928,000 after buying an additional 408,508 shares during the period. Boston Partners acquired a new stake in Ingevity during the third quarter worth $14,171,000. Harvey Partners LLC increased its stake in Ingevity by 59.6% during the second quarter. Harvey Partners LLC now owns 572,047 shares of the company’s stock worth $24,650,000 after acquiring an additional 213,547 shares during the last quarter. Finally, Marshall Wace LLP raised its position in Ingevity by 217.4% in the third quarter. Marshall Wace LLP now owns 228,201 shares of the company’s stock valued at $12,594,000 after purchasing an additional 156,301 shares during the period. 91.59% of the stock is owned by hedge funds and other institutional investors.

Ingevity Price Performance Shares of NGVT opened at $71.15 on Monday. The firm has a market capitalization of $2.51 billion, a price-to-earnings ratio of -15.30 and a beta of 1.27. The firm’s fifty day simple moving average is $69.73 and its 200-day simple moving average is $61.09. Ingevity Corporation has a twelve month low of $28.49 and a twelve month high of $77.46. The company has a current ratio of 1.33, a quick ratio of 0.79 and a debt-to-equity ratio of 39.10.

Ingevity (NYSE:NGVT – Get Free Report) last issued its earnings results on Wednesday, February 25th. The company reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.16). Ingevity had a positive return on equity of 126.25% and a negative net margin of 13.51%.The firm had revenue of $255.10 million for the quarter, compared to analyst estimates of $257.27 million. During the same quarter in the previous year, the firm posted $0.95 EPS. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. Ingevity has set its FY 2026 guidance at 4.800-5.20 EPS. Equities analysts forecast that Ingevity Corporation will post 4.45 EPS for the current fiscal year.

Analysts Set New Price Targets Several research analysts have weighed in on the stock. Wells Fargo & Company increased their target price on shares of Ingevity from $65.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, February 27th. Jefferies Financial Group restated a “buy” rating and issued a $82.00 price objective on shares of Ingevity in a report on Thursday, February 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ingevity in a research report on Thursday, January 22nd. Wall Street Zen lowered Ingevity from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Zacks Research upgraded Ingevity to a “hold” rating in a report on Tuesday, December 16th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Ingevity presently has a consensus rating of “Hold” and a consensus target price of $80.00.

View Our Latest Research Report on NGVT

About Ingevity (Free Report)

Ingevity Corporation, traded as NGVT, is a specialty chemicals and performance materials company headquartered in North Charleston, South Carolina. The company operates two primary business units: Performance Chemicals and Performance Materials. The Performance Chemicals segment produces and markets specialty chemicals derived largely from wood and other natural feedstocks, including rosin acids, tall oil fatty acids and esters, as well as specialty petroleum resins. These products serve a broad range of industries, including paper, adhesives, coatings, oilfield drilling and consumer goods.

The Performance Materials segment develops and manufactures activated carbon products and composites for applications such as automotive emissions control, industrial air and water purification, and spill containment.

Featured Stories Five stocks we like better than Ingevity Want to see what other hedge funds are holding NGVT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ingevity Corporation (NYSE:NGVT – Free Report).

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PITTSBURGH--(BUSINESS WIRE)--PPG (NYSE:PPG) today announced that it has completed the acquisition of Ozark Materials, LLC, a U.S.-based provider of pavement marking solutions, from Ingevity Corporation (NYSE:NGVT). The all-cash transaction includes a purchase price of $65 million, subject to customary adjustments.

Ozark Materials serves customers across the United States and Canada and has a strong reputation for quality, service and operational excellence. The company has approximately 130 employees and well-established customer relationships that align closely with PPG’s Traffic Solutions business.

“This acquisition strengthens our business by enhancing our ability to serve customers throughout North America with high-quality pavement marking solutions,” said Tom Maziarz, PPG vice president, Traffic Solutions. “Ozark Materials has strong operational capabilities and a team with deep industry experience. We look forward to integrating the business into PPG.”

This transaction advances PPG’s long-term strategy to expand its pavement marking business and bolster its ability to deliver innovative solutions for a broad range of public- and private-sector customers.

PPG: WE PROTECT AND BEAUTIFY THE WORLD®
At PPG (NYSE:PPG), we work every day to develop and deliver the paints, coatings and specialty products that our customers have trusted for more than 140 years. Through dedication and creativity, we solve our customers’ biggest challenges, collaborating closely to find the right path forward. With headquarters in Pittsburgh, we market and sell in more than 50 countries and reported net sales of $15.9 billion in 2025. We serve customers in construction, consumer products, industrial and transportation markets and aftermarkets. To learn more, visit www.ppg.com.

Forward-Looking Statements
The forward-looking statements contained herein include statements relating to the timing of and expected benefits of the Ozark Materials acquisition. Actual events may differ materially from current expectations and are subject to a number of risks and uncertainties, including the ability of PPG to achieve the expected benefits of the acquisition and the other risks and uncertainties discussed in PPG’s periodic reports on Form 10-K and Form 10-Q and its current reports on Form 8-K filed with the Securities and Exchange Commission.

The PPG Logo and We protect and beautify the world are registered trademarks of PPG Industries Ohio, Inc.

Key Takeaways Ingevity divests Ozark Materials road markings unit to PPG for about $65M in cash. NGVT aims to streamline portfolio and focus on higher-margin core segments. Proceeds will support strategic initiatives of NGVT and improve capital allocation efficiency. Ingevity Corporation (NGVT - Free Report) has announced the sale of its Ozark Materials road markings business to PPG Industries, Inc. (PPG - Free Report) for approximately $65 million in cash (subject to adjustments). This marks a strategic step for NGVT to streamline its portfolio and sharpen its focus on core operations.  

The divestiture is limited solely to Ingevity’s Ozark Materials road markings business. It reflects Ingevity’s ongoing efforts to prioritize higher-margin and growth-oriented businesses. Ozark Materials, which manufactures pavement marking materials used in road safety applications, will now become part of PPG’s traffic solutions portfolio.  

It will strengthen PPG’s position in the pavement marking solutions. The transaction is expected to improve NGVT’s overall business mix and capital allocation efficiency, while also reducing exposure to more cyclical and lower-margin activities.  

The company indicated that the proceeds from the sale will be reinvested in initiatives aligned with its long-term growth priorities. This move underscores Ingevity’s disciplined portfolio management and its commitment to enhancing shareholder value through focused execution. 

Shares of NGVT have skyrocketed 135% over the past year compared with the industry’s 10.6% growth. 

Image Source: Zacks Investment Research

NGVT’s Zacks Rank & Key PicksNGVT currently carries a Zacks Rank #4 (Sell).

Some better-ranked stocks in the Basic Materials space are Element Solutions Inc. (ESI - Free Report) and Hawkins, Inc. (HWKN - Free Report) . ESI and HWKN carry a Zacks Rank of #2 (Buy). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.

The Zacks Consensus Estimate for ESI’s current-year earnings stands at $1.76 per share, implying a 18.1% year-over-year increase. Its earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with the average surprise being 3.4%. 

The Zacks Consensus Estimate for HWKN’s current-year earnings is pegged at $3.95 per share, indicating a 2% year-over-year decrease. Its earnings beat the Zacks Consensus Estimate in two of the trailing four quarters while missing twice, with the average negative surprise being 1.5%. 

NORTH CHARLESTON, S.C.--(BUSINESS WIRE)--Ingevity Corporation (NYSE: NGVT) today reported its financial results for the first quarter of 2026.

The results and guidance in this release include non-GAAP financial measures. Additional information, including definitions and reconciliations to the most comparable GAAP measures, can be found in the section titled “Use of non‑GAAP financial measures.” Unless otherwise stated, all comparisons below are made versus the same period in 2025 and are presented on a continuing operations basis.

Full Company Results

Net sales of $258.0 million increased 4% driven primarily by annual pricing actions in Performance Materials and Pavement Technologies and favorable foreign exchange. The company reported net income from continuing operations of $23.4 million and diluted earnings per share (EPS) of $0.65, which includes $22.7 million of pre-tax special charges, inclusive of a $16.2 million charge related to the reimbursement of legal fees payable to BASF as part of the final settlement of the outstanding litigation. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) was similar to the prior year at $91.5 million, as pricing actions and higher volume were offset by weaker operating performance in the Performance Chemicals Road Markings product line, and lower asset utilization in the Advanced Polymer Technology segment. Adjusted earnings increased to $41.4 million and diluted EPS was $1.15 compared to $37.0 million and $1.01 in the prior year. First quarter adjusted EBITDA margin was 35.5% compared to 36.8% in the prior year.

“I am proud of our team’s strong execution in the face of macroeconomic volatility and rising energy costs. Closing both the Industrial Specialties and Road Markings divestitures early in the year was a significant achievement and enabled us to deploy $52 million in share repurchases ahead of our original plan. We are maintaining our full-year outlook and are encouraged by early trends and momentum at the start of the year,” said Ingevity President and CEO, Dave Li.

Segment Results

Performance Materials

Performance Materials grew sales 6% across most regions to $155.4 million. The higher sales were driven by annual pricing actions, favorable mix as a shift in consumer preferences from battery electric vehicles to hybrids continued, and an increase in volume. Segment EBITDA was up 10% to $92.0 million driven by improved price and mix, higher volume, and higher plant utilization in the quarter to build inventory ahead of planned outages in the second quarter, which more than offset higher SG&A and other expenses. Segment EBITDA margin improved 230 basis points to 59.2% compared to 56.9% in the prior year.

Performance Chemicals

Performance Chemicals sales, which include the Road Markings product line divested on April 15, 2026, were $58.3 million, similar to the prior year. Pavement Technologies sales were flat, as improvements in price and mix were offset by lower volumes. Sales in Road Markings declined 10 percent, driven by continued competitive pressure impacting volumes, while pricing remained stable. Segment EBITDA of $0.6 million declined $5.2 million from the prior year driven primarily by lower plant utilization in Road Markings compared to the first quarter of 2025. Segment EBITDA margin was 1.0% compared to 9.8% in the prior year.

Advanced Polymer Technologies

Advanced Polymer Technologies sales of $44.3 million increased 5% as favorable foreign exchange and higher volume more than offset decline in price due to unfavorable mix. Segment EBITDA for the quarter was $7.6 million compared to $13.6 million in the prior year due primarily to an inventory build in the first quarter of 2025, in anticipation of a material planned outage in the second quarter 2025. Segment EBITDA margin was 17.2% compared to 32.2% in the prior year.

Corporate and Other

Corporate and other expenses, which are not included in segment financial results, were $8.7 million, similar to the prior year. Indirect costs associated with the divested Industrial Specialties product line were zero compared to $3.2 million in the first quarter of 2025 as approximately one third of the costs were eliminated and the remaining costs were allocated to the business segments.

Liquidity/Other Continuing and Discontinued Operations

First quarter operating cash flow was negative $2.0 million, a decrease of $27.4 million versus the same quarter in 2025 as the business reverted to its historical seasonality, resulting in negative free cash flow of $12.3 million. First quarter of 2026 reflects a typical cadence of cash outflow from Pavement Technologies given the seasonality of the business, and an inventory build in Performance Materials ahead of planned outages in the second quarter. In 2025, the first quarter had an outsized contribution from a working capital benefit of approximately $15 million primarily related to inventory management within the divested Industrial Specialties product line.

Share repurchases totaled $52 million for the first quarter, with approximately $246 million available capacity remaining under the company's current share repurchase authorization. Net leverage held steady at 2.6 times versus the fourth quarter of 2025 and is down from 3.3 times versus the same quarter last year.

Full Year 2026 Outlook:

The company reaffirms full year 2026 guidance updated for the recently announced divestiture of Road Markings. It expects full year 2026 net sales between $1.05 billion and $1.15 billion, adjusted EBITDA between $370 million and $395 million, and adjusted EPS of $4.70 to $5.20. Free cash flow is expected to be between $215 million and $245 million, excluding $113.2 million in the pre-tax litigation settlement paid to BASF. The company intends to utilize the strong free cash flow to reduce leverage to within our long-term target range of 2.0-2.5 times and return cash to shareholders in 2026. The 2026 outlook includes full year financial results for Advanced Polymer Technologies but excludes the divested Industrial Specialties product line for the full year and the Road Markings product line beginning April 15, 2026.

Additional Information: The company will host a live webcast on Thursday, May 7, at 10:00 a.m. (Eastern) to discuss first quarter 2026 fiscal results. The webcast can be accessed via the Investor section of Ingevity’s website. Participants may pre-register for the event here.

Participants may also listen to the conference call by dialing 833 461 5787 (inside the U.S.) and entering access code 616645588. Callers outside the U.S. can find international dial-in numbers here. For those unable to join the live event, a recording will be available beginning at approximately 2:00 p.m. (Eastern) on May 7, 2026, through May 6, 2027, at this replay link.

Instructions for accessing the webcast and conference call, along with a slide deck containing relevant financial and statistical information, will be posted to the Investors section of Ingevity’s website after the company issues its earnings release on May 6, 2026.

Ingevity: Purify, Protect, Enhance

Ingevity (NYSE: NGVT) is a global specialty materials company that develops advanced carbon and engineered material solutions that improve mobility, strengthen and extend the life of infrastructure and enhance industrial processes. With a 90‑year legacy of innovation, we work closely with customers to solve technical challenges and deliver materials that improve performance and environmental outcomes in essential applications. Our portfolio includes Performance Materials activated carbon technologies for emissions control and filtration, Performance Chemicals solutions that support efficient agriculture and high‑performance pavement systems and Advanced Polymer Technologies specialty polymers for coatings and industrial applications. Headquartered in North Charleston, South Carolina, Ingevity operates from 17 locations worldwide and employs approximately 1,400 people. Learn more at ingevity.com.

Use of non-GAAP financial measures: This press release includes certain non‐GAAP financial measures intended to supplement, not substitute for, comparable GAAP measures. Reconciliations of non‐GAAP financial measures to GAAP financial measures are provided within the Appendix to this press release. Investors are urged to consider carefully the comparable GAAP measures and the reconciliations to those measures provided. The company does not attempt to provide reconciliations of forward-looking non-GAAP guidance to the comparable GAAP measure because the impact and timing of the factors underlying the guidance assumptions are inherently uncertain and difficult to predict and are unavailable without unreasonable efforts. In addition, Ingevity believes such reconciliations would imply a degree of certainty that could be confusing to investors.

Forward-looking statements: This press release contains “forward looking statements” within the meaning of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Such statements generally include the words “will,” “plans,” “intends,” “targets,” “expects,” “outlook,” “guidance,” “believes,” “anticipates” or similar expressions. Forward looking statements may include, without limitation, the potential benefits of any divestiture, acquisition or investment transaction, leadership transitions within our organization, expected financial positions, guidance, results of operations and cash flows; financing plans; business strategies and expectations; operating plans; capital and other expenditures; competitive positions; growth opportunities for existing products; benefits from new technology and cost reduction initiatives, plans and objectives; litigation-related strategies and outcomes; and markets for securities. Actual results could differ materially from the views expressed. Factors that could cause actual results to materially differ from those contained in the forward looking statements, or that could cause other forward looking statements to prove incorrect, include, without limitation, our ability to adjust our cost and operating structure after giving effect to the divestitures of our Industrial Specialties and Road Markings product lines; adverse effects from general global economic, geopolitical and financial conditions beyond our control, including inflation, global trade tensions, and the Russia-Ukraine war and conflict in the Middle East; risks related to our international sales and operations, including changes in tariffs; adverse conditions in the automotive market; competition from substitute products, new technologies and new or emerging competitors; worldwide air quality standards; a decrease in government infrastructure spending; adverse conditions in cyclical end markets; the limited supply of or lack of access to sufficient raw materials, or any material increase in the cost to acquire such raw materials; issues with or integration of future acquisitions and other investments; risks related to co-located operations; the provision of services by third parties at several facilities; supply chain disruptions; natural disasters and extreme weather events; or other unanticipated problems such as labor difficulties (including work stoppages), equipment failure or unscheduled maintenance and repair; planned and unplanned production slowdowns and shutdowns, turnarounds and outages, attracting and retaining key personnel; dependence on certain large customers; legal actions associated with our intellectual property rights; protection of our intellectual property and other proprietary information; information technology security breaches and other disruptions; complications with designing or implementing our new enterprise resource planning system; government policies and regulations, including, but not limited to, those affecting the environment, climate change, tax policies, tariffs and the chemicals industry; losses due to lawsuits arising out of environmental damage or personal injuries associated with chemical or other manufacturing processes; and the other factors detailed from time to time in the reports we file with the Securities and Exchange Commission (the “SEC”), including those described in Part I, Item 1A. Risk Factors in our most recent Annual Report on Form 10 K as well as in our other filings with the SEC. These forward-looking statements speak only to management’s beliefs as of the date of this press release. Ingevity assumes no obligation to provide any revisions to, or update, any projections and forward-looking statements contained in this press release.

INGEVITY CORPORATION

Condensed Consolidated Statements of Operations (Unaudited)

Three Months Ended March 31,

In millions, except per share data

2026

2025

Net sales

$

258.0

$

247.9

Cost of sales

141.6

136.0

Gross profit

116.4

111.9

Selling, general, and administrative expenses

40.7

41.9

Research and technical expenses

6.7

7.0

Restructuring and other (income) charges, net

0.5

1.9

Other (income) expense, net

22.4

4.1

Interest expense, net

15.9

19.4

Income (loss) from continuing operations before income taxes

30.2

37.6

Provision (benefit) for income taxes on continuing operations

6.8

8.5

Net income (loss) from continuing operations

23.4

29.1

Income (loss) from discontinued operations, net of income taxes

36.4

(8.6

)

Net income (loss)

$

59.8

$

20.5

Per share data

Basic earnings (loss) per share from continuing operations

$

0.66

$

0.80

Basic earnings (loss) per share from discontinued operations

1.04

(0.24

)

Basic earnings (loss) per share

$

1.70

$

0.56

Diluted earnings (loss) per share from continuing operations

$

0.65

$

0.79

Diluted earnings (loss) per share from discontinued operations

1.01

(0.23

)

Diluted earnings (loss) per share

$

1.66

$

0.56

Weighted average shares outstanding

Basic

35.3

36.4

Diluted

36.0

36.7

INGEVITY CORPORATION

Segment Operating Results (Unaudited)

Three Months Ended March 31,

In millions

2026

2025

Performance Materials

$

155.4

$

146.8

Performance Chemicals

58.3

58.9

Advanced Polymer Technologies

44.3

42.2

Net sales

$

258.0

$

247.9

Performance Materials

$

92.0

$

83.5

Performance Chemicals

0.6

5.8

Advanced Polymer Technologies

7.6

13.6

Segment EBITDA (1)

$

100.2

$

102.9

Interest expense, net

(15.9

)

(19.4

)

(Provision) benefit for income taxes on continuing operations

(6.8

)

(8.5

)

Depreciation and amortization (2)

(22.7

)

(24.5

)

Restructuring and other income (charges), net (3) (4)

(0.5

)

(1.9

)

Litigation charge (5)

(16.2

)

—

Impairment of license agreement (3) (6)

(2.8

)

—

Proxy contest charges (7)

—

(7.9

)

Portfolio realignment costs (8)

(3.2

)

—

Corporate and other (9)

(8.7

)

(8.4

)

Indirect costs allocated to Divestiture (10)

—

(3.2

)

Net income (loss) from continuing operations

$

23.4

$

29.1

Three Months Ended March 31,

In millions

2026

2025

Performance Materials

$

10.9

$

9.9

Performance Chemicals

3.5

5.9

Advanced Polymer Technologies

8.3

7.7

Indirect costs allocated to Divestiture (i)

—

1.0

Depreciation and amortization

$

22.7

$

24.5

  (i) Includes indirect costs previously allocated to the Divestiture that are not eligible for discontinued operations accounting treatment.

Three Months Ended March 31,

In millions

2026

2025

Performance Materials

$

0.5

$

—

Performance Chemicals

1.1

0.6

Advanced Polymer Technologies

(1.1

)

0.6

Indirect costs allocated to Divestiture

—

0.7

Restructuring and other (income) charges, net

$

0.5

$

1.9

(5) 

For information on our litigation charges please refer to Note 17, Commitments and Contingencies, in the Notes to the Consolidated Financial Statements included in the Company’s Form 10-K for the year ended December 31, 2025, filed on February 26, 2026. Updates will be provided in subsequent filings of the Company's Form 10-Q in 2026.

(6) 

Charge represents an impairment of a license agreement within our Performance Materials reportable segment.

(7) 

Charges represent legal and other professional service fees as well as incremental proxy solicitation costs related to a proxy contest.

(8) 

Charges represent professional service fees related to a review of the company's portfolio.

(9) 

Corporate and other costs is defined as costs associated with corporate administrative functions (e.g., executive office, corporate finance, legal, human resources) and other compliance costs to operate as a NYSE listed entity. Also includes corporate administrative function share of information technology, safety, health, accounting and human resource departments.

(10) 

Includes indirect costs previously allocated to the Divestiture that are not eligible for discontinued operations accounting treatment.

Three Months Ended March 31,

In millions

2026

2025

Cost of sales

$

—

$

2.5

Selling, general, and administrative expenses

—

0.7

Other (income) expense, net

—

—

Indirect costs allocated to Divestiture

$

—

$

3.2

INGEVITY CORPORATION

Condensed Consolidated Balance Sheets (Unaudited)

In millions

March 31, 2026

December 31, 2025

Assets

Cash and cash equivalents

$

95.4

$

78.1

Accounts receivable, net

151.2

127.2

Inventories, net

203.6

186.0

Restricted investment, net

85.1

—

Prepaid and other current assets

46.5

47.0

Current assets of discontinued operations

—

15.9

Current assets

581.8

454.2

Property, plant, and equipment, net

599.8

608.1

Goodwill

4.3

4.3

Other intangibles, net

168.0

176.1

Deferred income taxes

100.7

117.0

Restricted investment, net

—

84.4

Strategic investments

82.9

83.1

Other assets

112.7

104.4

Noncurrent assets of discontinued operations

—

19.5

Total Assets

$

1,650.2

$

1,651.1

Liabilities

Accounts payable

$

85.0

$

92.0

Accrued expenses

165.0

148.0

Notes payable and current maturities of long-term debt

121.9

47.1

Other current liabilities

37.5

51.1

Current liabilities of discontinued operations

—

3.1

Current liabilities

409.4

341.3

Long-term debt including finance lease obligations

1,082.4

1,161.4

Deferred income taxes

53.3

55.1

Other liabilities

66.2

62.9

Noncurrent liabilities of discontinued operations

—

0.7

Total Liabilities

1,611.3

1,621.4

Equity

38.9

29.7

Total Liabilities and Equity

$

1,650.2

$

1,651.1

INGEVITY CORPORATION

Condensed Consolidated Statements of Cash Flows (Unaudited)

Three Months Ended March 31,

In millions

2026 (1)

2025 (1)

Cash provided by (used in) operating activities:

Net income (loss)

$

59.8

$

20.5

Adjustments to reconcile net income (loss) to cash provided by (used in) operating activities:

Depreciation and amortization

22.7

24.9

Restructuring and other (income) charges, net

8.3

12.3

Impairment of license agreement

2.8

—

(Gain) loss on sale of business

(55.6

)

—

Litigation charges

16.2

—

Other non-cash items

26.3

7.5

Changes in operating assets and liabilities, net of effect of divestitures:

Restructuring and other cash outflow, net

(8.6

)

(11.6

)

CTO resales cash inflow (outflow), net

—

6.2

Changes in other operating assets and liabilities, net

(73.9

)

(34.4

)

Net cash provided by (used in) operating activities

$

(2.0

)

$

25.4

Cash provided by (used in) investing activities:

Capital expenditures

$

(10.3

)

$

(10.0

)

Proceeds from sale of business

93.1

—

Restricted investment

24.7

—

Proceeds from disposition of assets

—

3.6

Other investing activities, net

(1.2

)

(5.1

)

Net cash provided by (used in) investing activities

$

106.3

$

(11.5

)

Cash provided by (used in) financing activities:

Proceeds from revolving credit facility and other borrowings

$

713.8

$

92.3

Payments on revolving credit facility and other borrowings

(718.0

)

(100.3

)

Debt issuance costs

(4.0

)

—

Finance lease obligations, net

(0.3

)

(0.4

)

Tax payments related to withholdings on vested equity awards

(4.3

)

(2.6

)

Proceeds and withholdings from share-based compensation plans, net

3.3

—

Repurchases of common stock under stock repurchase plan

(52.3

)

—

Net cash provided by (used in) financing activities

$

(61.8

)

$

(11.0

)

Increase (decrease) in cash, cash equivalents, and restricted cash

42.5

2.9

Effect of exchange rate changes on cash

0.2

1.4

Change in cash, cash equivalents, and restricted cash

42.7

4.3

Cash, cash equivalents, and restricted cash at beginning of period

112.6

86.6

Cash, cash equivalents, and restricted cash at end of period (2)

$

155.3

$

90.9

Supplemental cash flow information:

Cash paid for interest, net of capitalized interest

$

11.1

$

14.6

Cash paid for income taxes, net of refunds

2.5

4.4

Purchases of property, plant, and equipment in accounts payable

1.8

2.9

Leased assets obtained in exchange for new operating lease liabilities

5.8

—

Ingevity has presented certain financial measures, defined below, which have not been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and has provided a reconciliation to the most directly comparable financial measure calculated in accordance with GAAP on the following pages. These financial measures are not meant to be considered in isolation nor as a substitute for the most directly comparable financial measure calculated in accordance with GAAP. Investors should consider the limitations associated with these non-GAAP measures, including the potential lack of comparability of these measures from one company to another.

We believe these non-GAAP financial measures provide management as well as investors, potential investors, securities analysts, and others with useful information to evaluate the performance of the business, because such measures, when viewed together with our financial results computed in accordance with GAAP, provide a more complete understanding of the factors and trends affecting our historical financial performance, liquidity measures, and projected future results.

Ingevity uses the following non-GAAP measures:

Adjusted earnings (loss) from continuing operations is defined as net income (loss) from continuing operations plus restructuring and other (income) charges, net, goodwill impairment charges, long lived asset impairment charge, acquisition and other-related (income) costs, pension and postretirement settlement and curtailment (income) charges, impairment of license agreement, debt refinancing fees, litigation charge, proxy contest charges, portfolio realignment costs, and the income tax expense (benefit) on those items, less the provision (benefit) from certain discrete tax items.

Diluted adjusted earnings (loss) from continuing operations per share is defined as diluted earnings (loss) from continuing operations per share plus restructuring and other (income) charges, net, per share, acquisition and other-related (income) costs per share, pension and postretirement settlement and curtailment (income) charges per share, impairment of license agreement per share, debt refinancing fees per share, litigation charge per share, proxy contest charges per share, portfolio realignment costs per share, and the income tax expense (benefit) per share on those items, less the provision (benefit) from certain discrete tax items per share.

Adjusted EBITDA from continuing operations is defined as net income (loss) from continuing operations plus interest expense, net, provision (benefit) for income taxes, depreciation, amortization, restructuring and other (income) charges, net, acquisition and other-related (income) costs, litigation charge, impairment of license agreement, proxy contest charges, portfolio realignment costs, and pension and postretirement settlement and curtailment (income) charges, net.

Total adjusted EBITDA is defined as Adjusted EBITDA from continuing operations and Adjusted EBITDA from discontinued operations.

Adjusted EBITDA margin from continuing operations is defined as Adjusted EBITDA from continuing operations divided by Net sales from continuing operations.

Net Debt is defined as the sum of notes payable, short-term debt, current maturities of long-term debt and long-term debt including finance lease obligations less the sum of cash and cash equivalents, restricted cash associated with our new market tax credit financing arrangement, and restricted investment associated with certain finance lease obligations, excluding the allowance for credit losses on held-to-maturity debt securities held within the restricted investment.

Net Debt Ratio is defined as Net Debt divided by the last twelve months Adjusted EBITDA from continuing operations.

Free Cash Flow is defined as the sum of net cash provided by (used in) the following items: operating activities less capital expenditures.

Ingevity's management also uses the above financial measures as the primary measures of profitability and liquidity of the business. In addition, Ingevity believes Adjusted EBITDA from continuing operations and Adjusted EBITDA Margin from continuing operations are useful measures because they exclude the effects of financing and investment activities as well as non-operating activities.

GAAP Reconciliation of 2026 Adjusted EBITDA Guidance

A reconciliation of net income to Adjusted EBITDA from continuing operations as projected for 2026 is not provided. Ingevity does not forecast net income as it cannot, without unreasonable effort, estimate or predict with certainty various components of net income. These components, net of tax, include further restructuring and other income (charges), net; additional acquisition and other-related (income) costs; litigation charges; additional pension and postretirement settlement and curtailment (income) charges; and revisions due to legislative tax rate changes. Additionally, discrete tax items could drive variability in our projected effective tax rate. All of these components could significantly impact such financial measures. Further, in the future, other items with similar characteristics to those currently included in Adjusted EBITDA from continuing operations, that have a similar impact on the comparability of periods, and which are not known at this time, may exist and impact Adjusted EBITDA from continuing operations.

Adjusted Earnings and Diluted Adjusted Earnings per Share Reconciliation (GAAP to Non-GAAP)

Three Months Ended March 31,

In millions, except per share data (unaudited)

2026

2025

Net income (loss) from continuing operations (GAAP)

$

23.4

$

29.1

Restructuring and other (income) charges, net (1)

0.5

1.9

Litigation charge (2)

16.2

—

Impairment of license agreement (3)

2.8

—

Proxy contest charges (4)

—

7.9

Portfolio realignment costs (5)

3.2

—

Tax effect on items above (6)

(5.3

)

(2.3

)

Certain discrete tax provision (benefit) (7)

0.6

0.4

Adjusted earnings (loss) from continuing operations (Non-GAAP)

$

41.4

$

37.0

Diluted earnings (loss) from continuing operations per share (GAAP)

$

0.65

$

0.79

Restructuring and other (income) charges, net

0.01

0.05

Litigation charge

0.45

—

Impairment of license agreement

0.08

—

Proxy contest charges

—

0.21

Portfolio realignment costs

0.09

—

Tax effect on items above

(0.15

)

(0.05

)

Certain discrete tax provision (benefit)

0.02

0.01

Diluted adjusted earnings (loss) from continuing operations per share (Non-GAAP)

$

1.15

$

1.01

Weighted average common shares outstanding - Diluted

36.0

36.7

Three Months Ended March 31,

In millions

2026

2025

Work force reductions and other

$

(0.3

)

$

1.2

Performance Chemicals repositioning

0.8

0.7

Restructuring charges (i)

$

0.5

$

1.9

Other (income) charges, net (i)

$

—

$

—

Restructuring and other (income) charges, net (ii)

$

0.5

$

1.9

  (i) Amounts are recorded within Restructuring and other (income) charges, net on the condensed consolidated statement of operations. (ii) For information on our Workforce reductions and other and Performance Chemicals' repositioning please refer to Note 15, Restructuring and Other (Income) Charges, net, in the Notes to the Consolidated Financial Statements included in the Company’s Form 10-K for the year ended December 31, 2025, filed on February 26, 2026. Updates will be provided in subsequent filings of the Company's Form 10-Q in 2026. (2) 

For information on our litigation charges please refer to Note 17, Commitments and Contingencies, in the Notes to the Consolidated Financial Statements included in the Company’s Form 10-K for the year ended December 31, 2025, filed on February 26, 2026. Updates will be provided in subsequent filings of the Company's Form 10-Q in 2026.

(3) 

Charge represents an impairment of a license agreement within our Performance Materials reportable segment.

(4) 

Charges represent legal and other professional service fees as well as incremental proxy solicitation costs related to a proxy contest.

(5) 

Charges represent professional service fees related to a review of the company's portfolio.

(6) 

Income tax impact of non-GAAP adjustments is the summation of the calculated income tax charge related to each pre-tax non-GAAP adjustment. The non-GAAP adjustments relate primarily to adjustments in the United States. As such, the income tax effect is calculated using the statutory tax rates of 21% for the United States and approximately 2.5% for state and local taxes, applied to the non-GAAP adjustments.

(7) 

Represents certain discrete tax items such as excess tax benefits on stock compensation and impacts of legislative tax rate changes.

Adjusted EBITDA Reconciliation (GAAP to Non-GAAP)

Three Months Ended March 31,

In millions, except percentages (unaudited)

2026

2025

Net income (loss) from continuing operations (GAAP)

$

23.4

$

29.1

Provision (benefit) for income taxes on continuing operations

6.8

8.5

Interest expense, net

15.9

19.4

Depreciation and amortization

22.7

24.5

Restructuring and other (income) charges, net (1)

0.5

1.9

Litigation charge (1)

16.2

—

Impairment of license agreement (1)

2.8

—

Proxy contest charges (1)

—

7.9

Portfolio realignment costs (1)

3.2

—

Adjusted EBITDA from continuing operations (Non-GAAP)

$

91.5

$

91.3

Net sales from continuing operations

$

258.0

$

247.9

Net income (loss) margin from continuing operations

9.1

%

11.7

%

Adjusted EBITDA margin from continuing operations (Non-GAAP)

35.5

%

36.8

%

Free Cash Flow Calculation (Non-GAAP)

Three Months Ended March 31,

In millions (unaudited)

2026

2025

Net cash provided by (used in) operating activities

$

(2.0

)

$

25.4

Less: Capital expenditures

10.3

10.0

Free Cash Flow (Non-GAAP)

$

(12.3

)

$

15.4

Net Debt Ratio Calculation (Non-GAAP)

In millions, except ratios (unaudited)

March 31, 2026

Notes payable and current maturities of long-term debt

$

121.9

Long-term debt including finance lease obligations

1,082.4

Debt issuance costs

2.8

Total Debt

1,207.1

Less:

Cash and cash equivalents (1)

95.5

Restricted investment (2)

85.3

Net Debt

$

1,026.3

Net Debt Ratio (Non-GAAP)

Adjusted EBITDA (Non-GAAP)

Twelve months ended December 31, 2025 - Total Adjusted EBITDA

$

397.5

Three months ended March 31, 2025 (3) - Adjusted EBITDA from Continuing Operations

(91.3

)

Three months ended March 31, 2026 (3) - Adjusted EBITDA from Continuing Operations

91.5

Total Adjusted EBITDA (Non-GAAP) - last twelve months (LTM) as of March 31, 2026

$

397.7

Net debt ratio (Non-GAAP)

2.6x

  (1)

Includes $0.1 million of Restricted Cash related to the new market tax credit financing arrangement.

(2)

Our restricted investment is a trust managed in order to secure repayment of the finance lease obligation associated with Performance Materials' Wickliffe, Kentucky, manufacturing site at maturity. The trust, presented as Restricted investment on our condensed consolidated balance sheets, originally purchased long-term bonds that mature through 2026. The principal received at maturity of the bonds, along with interest income that is reinvested in the trust, are expected to be equal to or more than the $80.0 million finance lease obligation that is due in 2027. Excludes $0.2 million allowance for credit losses on held-to-maturity debt securities.

(3)

Refer to the Adjusted EBITDA Reconciliation (GAAP to Non-GAAP) schedule on page 10 for the reconciliation to the most comparable GAAP financial measure.

Ingevity Corporation (NGVT) Q1 2026 Earnings Call Transcript

Ingevity NYSE: NGVT reported higher first-quarter 2026 sales and reaffirmed its full-year outlook as management highlighted progress on portfolio simplification, strong margins in its Performance Materials business and continued share repurchases.

On the company’s earnings call, President and CEO Dave Li said the quarter represented “another strong period of execution and results,” despite global volatility and uncertainty. Ingevity posted first-quarter sales of $258 million, up 4% from the prior-year period, while adjusted EBITDA was $92 million. Adjusted EBITDA margin was 35.5%, compared with 36.8% in the first quarter of 2025.

GAAP net income was $23.4 million, including about $23 million of pre-tax special charges, according to CFO Phil Platt. He said $16 million of those charges related to the final litigation settlement payment to BASF. Excluding special charges, diluted adjusted earnings per share rose 14% to $1.15, helped by lower interest expense and reduced share count from buybacks.

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Portfolio simplification remains a central focus Li said Ingevity continued to advance its strategic portfolio transformation during and after the quarter. The company completed the sale of the Ozark Materials Road Markings product line to PPG on April 15 in an all-cash transaction valued at approximately $65 million. That transaction followed the January divestiture of its North Charleston CTO refinery and the majority of its Industrial Specialties product line for approximately $93 million in net proceeds.

Li said those actions, along with the ongoing sales process for the Advanced Polymer Technologies, or APT, business, reflect a push to simplify the company’s portfolio, sharpen strategic focus and reduce earnings volatility.

During the question-and-answer portion of the call, Li said the APT sales process was “progressing well” and that the company remained encouraged by buyer engagement. “We continue to be confident that we’ll announce something before the end of the year,” he said.

Performance Materials benefits from pricing and hybrid vehicle trends Performance Materials remained the strongest contributor in the quarter. Segment sales rose 6% to $155 million, driven by annual low-single-digit price increases and higher volume. Segment EBITDA increased 10% to $92 million, while EBITDA margin expanded to 59% from 57% a year earlier.

Platt said the segment benefited from an inventory build ahead of planned shutdowns in the second quarter. He said that benefit is expected to reverse in the next quarter, bringing full-year margins back in line with the company’s guidance of around the mid-50% range.

Li also pointed to a shift in consumer preference away from battery electric vehicles and toward hybrids as a positive for Ingevity’s activated carbon solutions. In response to a question from Jefferies analyst Daniel Rizzo, Li said the trend is evident in North America and could become more global as electric vehicle subsidies moderate in markets such as China. He said hybrids require more advanced carbon content from Ingevity because of smaller engine sizes.

Li added that Ingevity remains confident in the long-term role of its activated carbon solutions in automotive applications while investing to expand into filtration. He said the company already has a presence in food and beverage, medical and pharma, and consumer applications, though those efforts remain in the early stages.

Performance Chemicals pressured by Road Markings Performance Chemicals results excluded the divested Industrial Specialties product line but still included Road Markings, since that sale did not close until April 15. Platt said the segment will be renamed Pavement Technologies beginning next quarter, though historical results will not be recast to remove Road Markings because the divested business does not meet the criteria for discontinued operations.

First-quarter Performance Chemicals sales were comparable to the prior-year period. Pavement Technologies sales were flat, as pricing and mix gains were offset by lower volumes tied to minor timing shifts at the start of the pavement season. Road Markings sales declined 10% because of competitive pressure on volumes, while pricing remained stable.

Segment EBITDA declined by $5 million, and EBITDA margin fell to 1%. Platt attributed the decline to lower plant utilization in Road Markings, higher supply chain costs and selling, general and administrative expenses tied to indirect costs from the Industrial Specialties divestiture. He said Ingevity remains on track to eliminate those costs by the end of the year.

APT shows signs of stabilization amid weak demand APT sales grew 5% in the quarter, supported by favorable foreign exchange, while volume growth was offset by lower pricing due to unfavorable mix. Platt said the company was encouraged by sequential volume growth, particularly in Asia Pacific, after a prolonged period of demand weakness and indirect tariff-related headwinds that began in the second quarter of the prior year.

APT segment EBITDA was $7.6 million, with an EBITDA margin of 17.2%, both meaningfully lower than the year-ago period. Platt said the decline was largely due to lower plant utilization and a comparison against last year’s inventory build ahead of an extended planned shutdown to install boilers.

In response to a question from Wells Fargo’s Mike Sisson, represented on the call by Abigail, Platt said some Asian competitors had been affected by the Middle East conflict, allowing Ingevity to step in and supply volume to customers. Li said the company was seeing some demand return in APT, while also benefiting from supply chain challenges affecting competitors.

Guidance reaffirmed; buybacks continue Ingevity reaffirmed its 2026 guidance. The company expects adjusted EPS of $4.70 to $5.20, sales of $1.05 billion to $1.15 billion and adjusted EBITDA of $370 million to $395 million. The outlook excludes contributions from Road Markings beginning April 15. Li said the exclusion of Road Markings is expected to lift Performance Chemicals margin to the high teens, compared with prior projections in the mid-teens.

The company expects free cash flow of $215 million to $245 million, excluding approximately $113 million in pre-tax litigation-related payments to BASF expected in the second quarter. Platt said first-quarter free cash flow was negative $12 million, reflecting typical seasonal inventory builds ahead of the paving season and additional Performance Materials inventory ahead of planned outages.

Ingevity repurchased about $52 million of shares in the first quarter, totaling approximately 775,000 shares. Platt said the company accelerated buybacks beyond its planned cadence, supported by proceeds from the Industrial Specialties divestiture and market volatility. At quarter-end, Ingevity had approximately $246 million remaining under its share repurchase authorization. Li said the company had repurchased almost $15 million of shares already in the second quarter.

Management reiterated plans to complete $300 million of share repurchases through 2027 while reducing and maintaining net leverage within its long-term target range of 2.0 times to 2.5 times in 2026.

About Ingevity NYSE: NGVTIngevity Corporation, traded as NGVT, is a specialty chemicals and performance materials company headquartered in North Charleston, South Carolina. The company operates two primary business units: Performance Chemicals and Performance Materials. The Performance Chemicals segment produces and markets specialty chemicals derived largely from wood and other natural feedstocks, including rosin acids, tall oil fatty acids and esters, as well as specialty petroleum resins. These products serve a broad range of industries, including paper, adhesives, coatings, oilfield drilling and consumer goods.

The Performance Materials segment develops and manufactures activated carbon products and composites for applications such as automotive emissions control, industrial air and water purification, and spill containment.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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NORTH CHARLESTON, S.C.--(BUSINESS WIRE)--Ingevity Corporation (NYSE: NGVT) today announced that Dave Li, president and CEO, and Phillip Platt, senior vice president and CFO, will participate in a fireside chat during the 2026 Wells Fargo 16th Annual Industrials & Materials Conference on Thursday, June 11, at 10:30 a.m. ET.

Ingevity invites investors and interested parties to access the live webcast via the following link: Industry & Materials Industry Conference - Wells Fargo. An audio replay and transcript will be available following the event on the Events and Presentations section of Ingevity’s investor relations website.

For additional information on the conference, visit:
https://www.wellsfargo.com/cib/insights/events/industrials-conference/

Ingevity: Purify, Protect and Enhance

Ingevity (NYSE: NGVT) is a global specialty materials company that develops advanced carbon and engineered material solutions that improve mobility, strengthen and extend the life of infrastructure and enhance industrial processes. With a 90‑year legacy of innovation, we work closely with customers to solve technical challenges and deliver materials that improve performance and environmental outcomes in essential applications. Our portfolio includes Performance Materials activated carbon technologies for emissions control and filtration, Pavement Technologies solutions that support efficient agriculture and high‑performance pavement systems and Advanced Polymer Technologies specialty polymers for coatings and industrial applications. Headquartered in North Charleston, South Carolina, Ingevity operates from 17 locations worldwide and employs approximately 1,400 people. Learn more at ingevity.com.