Ingevity Reiterates FY24 Sales $1.40B-$1.55B Vs $1.462B Est.
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| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 8/7/2024 | $58.00 | Market Perform → Market Outperform | CJS Securities |
| 4/22/2024 | $52.00 → $62.00 | Hold → Buy | Jefferies |
| 11/6/2023 | $49.00 | Market Outperform → Market Perform | CJS Securities |
| 10/3/2023 | $62.00 → $53.00 | Buy → Hold | Loop Capital |
| 8/7/2023 | $71.00 → $60.00 | Outperform → Market Perform | BMO Capital Markets |
| 7/27/2023 | $64.00 → $75.00 | Hold → Buy | Loop Capital |
| 5/5/2023 | $92.00 → $64.00 | Buy → Hold | Loop Capital |
| 2/2/2023 | $81.00 → $100.00 | Hold → Buy | Loop Capital |
HIGHLIGHTS: Net sales of $376.9 million, down 16% compared to prior year, primarily due to repositioning actions in Performance Chemicals Net loss of $107.2 million and diluted loss per share of $2.95 reflects before-tax restructuring charges of $86.9 million and contract termination fees of $100.0 million; adjusted earnings of $40.2 million and diluted adjusted earnings per share (EPS) of $1.10 Adjusted EBITDA of $106.4 million and adjusted EBITDA margin of 28.2% Operating cash flow of $46.5 million with free cash flow of $28.5 million Affirms full year guidance of sales between $1.40 billion and $1.50 billion and adjusted EBITDA between $350 million and $360 million The result
Ingevity Corporation (NYSE:NGVT) announced today that it will release its third-quarter 2024 earnings after the stock market close on Tuesday, October 29, 2024. The company will host a live webcast on Wednesday, October 30, at 10:00 a.m. (Eastern) to discuss third-quarter 2024 fiscal results. The webcast can be accessed here or on the investors section of Ingevity's website. You may also listen to the conference call by dialing 833 470 1428 (inside the U.S.) and entering access code 381718. Callers outside the U.S. can find global 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 October 30, 2024,
Will optimize existing manufacturing footprint by consolidating oleo-based chemical refining with existing crude tall oil refining at the company's North Charleston, South Carolina, facility, and closing its Crossett, Arkansas, facility in August Manufacturing consolidation will result in approximately $20 million to $25 million in annual savings beginning in 2025 Executes corporate and business-related cost reduction actions resulting in additional annual savings of approximately $10 million beginning in 2025 Expects charges associated with these actions of approximately $100 million, with approximately $65 million to be non-cash Continues to evaluate the Performance Chemicals
HIGHLIGHTS: Net sales of $376.9 million, down 16% compared to prior year, primarily due to repositioning actions in Performance Chemicals Net loss of $107.2 million and diluted loss per share of $2.95 reflects before-tax restructuring charges of $86.9 million and contract termination fees of $100.0 million; adjusted earnings of $40.2 million and diluted adjusted earnings per share (EPS) of $1.10 Adjusted EBITDA of $106.4 million and adjusted EBITDA margin of 28.2% Operating cash flow of $46.5 million with free cash flow of $28.5 million Affirms full year guidance of sales between $1.40 billion and $1.50 billion and adjusted EBITDA between $350 million and $360 million The result
Ingevity Corporation (NYSE:NGVT) announced today that it will release its third-quarter 2024 earnings after the stock market close on Tuesday, October 29, 2024. The company will host a live webcast on Wednesday, October 30, at 10:00 a.m. (Eastern) to discuss third-quarter 2024 fiscal results. The webcast can be accessed here or on the investors section of Ingevity's website. You may also listen to the conference call by dialing 833 470 1428 (inside the U.S.) and entering access code 381718. Callers outside the U.S. can find global 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 October 30, 2024,
Ingevity Corporation (NYSE:NGVT) today announced that John Fortson has departed as president and chief executive officer and from the board of directors of the company, effective as of October 2, 2024. The board of directors has appointed current board director, Luis Fernandez-Moreno as interim president and chief executive officer while it conducts a search for a permanent replacement. "On behalf of the entire board, I want to thank John for his leadership and dedication to Ingevity over the past nine years," said Jean Blackwell, chair of the board of directors. "Under John's guidance, Ingevity successfully transitioned into a standalone public company, expanded its global footprint and e
In the preceding three months, 5 analysts have released ratings for Ingevity (NYSE:NGVT), presenting a wide array of perspectives from bullish to bearish. Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 1 1 3 0 0 Last 30D 0 0 1 0 0 1M Ago 0 0 0 0 0 2M Ago 0 0 0 0 0 3M Ago 1 1 2 0 0 The 12-month price targets, analyzed by analysts, offer insights with an average target of $55.2, a high estimate of $62.00, and a low estimate of $45.00. Observing a 7.81% increase, the current average has risen fro
Wells Fargo analyst Michael Sison maintains Ingevity (NYSE:NGVT) with a Equal-Weight and lowers the price target from $55 to $45.
10-Q - Ingevity Corp (0001653477) (Filer)
8-K - Ingevity Corp (0001653477) (Filer)
8-K - Ingevity Corp (0001653477) (Filer)
CJS Securities upgraded Ingevity from Market Perform to Market Outperform and set a new price target of $58.00
Jefferies upgraded Ingevity from Hold to Buy and set a new price target of $62.00 from $52.00 previously
CJS Securities downgraded Ingevity from Market Outperform to Market Perform and set a new price target of $49.00
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4 - Ingevity Corp (0001653477) (Issuer)
3 - Ingevity Corp (0001653477) (Issuer)
4 - Ingevity Corp (0001653477) (Issuer)
Ingevity Corporation (NYSE:NGVT) today announced that John Fortson has departed as president and chief executive officer and from the board of directors of the company, effective as of October 2, 2024. The board of directors has appointed current board director, Luis Fernandez-Moreno as interim president and chief executive officer while it conducts a search for a permanent replacement. "On behalf of the entire board, I want to thank John for his leadership and dedication to Ingevity over the past nine years," said Jean Blackwell, chair of the board of directors. "Under John's guidance, Ingevity successfully transitioned into a standalone public company, expanded its global footprint and e
Ingevity Corporation (NYSE:NGVT) today announced the appointment of Ryan C. Fisher as senior vice president, general counsel and secretary and Terry Dyer as senior vice president and chief human resources officer. "We are excited to add Ryan and Terry to our executive leadership team," said Ingevity president and CEO, John Fortson. "Both leaders bring extensive experience, with successful track records of leading companies through business growth and expansion. I am confident that their contributions will be instrumental in driving our continued success and innovation." Fisher has held various leadership positions during his 18-year tenure with Ingevity and its predecessors. Most recent
Allegion plc (NYSE:ALLE), a leading global security products and solutions provider, has appointed Stacy Cozad as senior vice president, general counsel and corporate secretary, effective Aug. 5, 2024. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240701071652/en/Stacy Cozad (Photo: Business Wire) In this role, Cozad will have responsibility for Allegion's global legal affairs, trade compliance, enterprise risk management and corporate communications functions. She will succeed Jeff Braun, who has announced plans to retire on Dec. 31, 2024, and will serve as an advisor during the transition. Cozad has nearly 30 years of exper