Duyuru • Apr 09
Ingevity Corporation to Report Q1, 2026 Results on May 06, 2026 Ingevity Corporation announced that they will report Q1, 2026 results After-Market on May 06, 2026 Duyuru • Mar 18
Ingevity Corporation, Annual General Meeting, Apr 29, 2026 Ingevity Corporation, Annual General Meeting, Apr 29, 2026. Duyuru • Feb 24
Ingevity Corporation Announces Board Changes Ingevity Corporation announced that two long-serving directors, Daniel F. Sansone and Jean S. Blackwell, will not stand for re-election at the company’s 2026 Annual Meeting of Stockholders. Sansone, a founding director since Ingevity became a public company in 2016, is ending his service at the annual meeting in accordance with the board’s mandatory retirement age policy. Blackwell, also a founding director, will conclude her tenure at the annual meeting following ten years of service. She previously served as chair of the board and provided essential leadership during a pivotal phase of the company’s transformation. In connection with these changes, the current 11-member board will be resized to 9 members following the annual meeting to align governance with the company’s future scope and strategic direction. Ingevity will file a Current Report on Form 8-K with the U.S. Securities and Exchange Commission reflecting these matters. Duyuru • Feb 11
Ingevity Corporation to Report Q4, 2025 Results on Feb 25, 2026 Ingevity Corporation announced that they will report Q4, 2025 results After-Market on Feb 25, 2026 Duyuru • Nov 06
Ingevity Corporation Revises Earnings Guidance for the Year 2025 Ingevity Corporation revised earnings guidance for the year 2025. The company revised full year guidance: Total Net sales between $1.25 billion and $1.35 billion. This revision reflects specific challenges within the Advanced Polymer Technologies segment related to competitive pressures and ongoing indirect tariff impacts, which have further delayed the expected recovery in industrial demand. Duyuru • Oct 24
Ingevity Corporation to Report Q3, 2025 Results on Nov 05, 2025 Ingevity Corporation announced that they will report Q3, 2025 results After-Market on Nov 05, 2025 Duyuru • Oct 23
Ingevity Corporation Announces Appointment of Ruth Castillo as Senior Vice President and President, Performance Materials of the Company, Effective November 10, 2025 Ingevity Corporation announced that it has appointed Ruth Castillo as Senior Vice President and President, Performance Materials of the Company, effective as of November 10, 2025. Ms. Castillo will report directly to Ingevity’s President and Chief Executive Officer. Biographical Information: Ms. Castillo, age 48, is an accomplished business leader with over 25 years of experience in the chemicals, specialty materials and life science industries. Ms. Castillo most recently served as Vice President of Global Chemicals at Avantor, a global provider of products and services to the life sciences, advanced technology and applied materials industries, from January 2025 to October 2025. Prior to that role, Ms. Castillo served as Avantor’s Vice President of Business Transformation from December 2022 to December 2024, Vice President of Supply Chain and Engineering from June 2020 to November 2022, and Vice President of Global Product Management from June 2018 to May 2020. Before joining Avantor in 2018, Ms. Castillo spent approximately 17 years with Celanese, a global chemical and specialty materials company, where she served in various leadership roles. Ms. Castillo holds a Master of Business Administration from the University of Texas at Dallas and a Bachelor’s Degree in Chemical Engineering from Universidad Iberoamericana in Mexico City. Ms. Castillo has no family relationships with any director or executive officer of Ingevity. There are no arrangements or understandings between Ms. Castillo and any other person pursuant to which Ms. Castillo was selected as Senior Vice President and President, Performance Materials of Ingevity. Ms. Castillo is not a party to any transaction to which Ingevity is or was a participant and in which Ms. Castillo has a direct or indirect material interest subject to disclosure under Item 404(a) of Regulation S-K. Duyuru • Sep 04
Ingevity Corporation Affirms Earnings Guidance for the Full Year 2025 Ingevity Corporation affirmed earnings guidance for the full year 2025. For the year, the company affirms previously provided full-year guidance of sales between $1.25 billion and $1.40 billion. Duyuru • Aug 05
Ingevity Corporation Maintains Earnings Guidance for the Year 2025 Ingevity Corporation maintained earnings guidance for the year 2025. The company expects to maintain sales guidance between $1.25 billion and $1.40 billion. Duyuru • Jul 22
Ingevity Corporation to Report Q2, 2025 Results on Aug 04, 2025 Ingevity Corporation announced that they will report Q2, 2025 results After-Market on Aug 04, 2025 Duyuru • Jul 02
S. Edward Woodcock Departs from Ingevity Corporation as Executive Vice President and President, Performance Materials Effective July 1, 2025 On July 1, 2025 (the “Separation Date”), S. Edward Woodcock, Executive Vice President and President, Performance Materials, departed from Ingevity Corporation (the “Company”), effective July 1, 2025. Woodcock’s departure follows a 37-year career with the company. Duyuru • May 06
Ingevity Corporation Revises Earnings Guidance for the Year 2025 Ingevity Corporation revised earnings guidance for the year 2025. For the year, the company widened its guidance range to reflect declines in industry forecasts of auto production due to trade tensions and tariff uncertainty; revised full year guidance of sales between $1.25 billion and $1.40 billion. Duyuru • Apr 24
Ingevity Corporation to Report Q1, 2025 Results on May 05, 2025 Ingevity Corporation announced that they will report Q1, 2025 results After-Market on May 05, 2025 Duyuru • Mar 27
Vision One Fund Provides Information to Shareholders On March 26, 2025, Vision One Fund LP urged the shareholders of Ingevity Corporation to vote for its board nominees Julio C. Acero and F. David Segal to the Board of Directors of the Company because, as further discussed, it believed that board enhancement to ensure exploration of all options to increase share value is necessary to drive change, restore good governance practices, and implement value-enhancing capital allocation strategies on a timely basis and believed that the Vision One Nominees are strong stockholder-oriented individuals who are committed to working collaboratively with the Company and will bring new, objective, and fully independent perspectives to the Board. In addition, Vision One Fund recommended the shareholders of the Company to withhold vote for the Company nominees Jean S. Blackwell and Daniel F. Sansone, at the annual meeting of shareholders. Duyuru • Mar 21
Ingevity Corporation, Annual General Meeting, Apr 30, 2025 Ingevity Corporation, Annual General Meeting, Apr 30, 2025. Duyuru • Mar 08
Vision One Fund Issues Presentation Regarding Ingevity Corporation On March 6, 2025, Vision One Fund LP announced that it has sent a presentation to Ingevity Corporation. The presentation stated that the current Company Board for poor capital allocation, ineffective leadership, and underperformance, arguing that these decisions have led to significant financial losses and a decline in shareholder value. Vision One proposes new governance measures, including appointing a Lead Independent Director, establishing director term limits, and allowing stockholders to call special meetings. In addition, Vision One believe these changes will enhance oversight, accountability, and corporate strategy, and aims to streamline the Company’s portfolio by exiting the Performance Chemicals segment and focusing on the Performance Materials segment, believing this strategy will unlock significant value for shareholders and potentially increase the share price to $124. Additionally, Vision One has nominated 4 individuals for the Ingevity Board: Julio C. Acero, Courtney R. Mather, Merri J. Sanchez, and F. David Segal, in connection with the annual meeting of shareholders. Duyuru • Feb 26
Vision One Fund Issues a Presentation Regarding Ingevity Corporation On February 25, 2025, Vision One Fund LP announced that it has sent a presentation with Ingevity Corporation, criticizes the current Company Board for poor capital allocation, lack of effective leadership, and underperformance, argues that the current Board’s decisions have led to significant financial losses and a decline in shareholder value. Vision One proposes new governance safeguards, including appointing a Lead Independent Director, establishing director term limits, and allowing stockholders to call special meetings, believes these changes will improve oversight, accountability, and corporate strategy. Vision One aims to simplify Company’s portfolio by exiting the Performance Chemicals segment and focusing on the Performance Materials segment, believe this strategy will unlock significant value for shareholders, potentially increasing the share price to $124. In addition, Vision One stated that it has nominated 4 individuals for the Ingevity Board: Julio C. Acero, Courtney R. Mather, Dr. Merri J. Sanchez, and F. David Segal, in connection with the annual meeting of shareholders. Duyuru • Feb 19
Ingevity Corporation Provides Earnings Guidance for the Year 2025 Ingevity Corporation provided earnings guidance for the year 2025. The company announced full year 2025 guidance of sales between $1.3 billion and $1.4 billion. Duyuru • Dec 17
Ingevity Corporation Elects J. Kevin Willis to the Board of Directors Ingevity Corporation announced the election of J. Kevin Willis to the board of directors effective December 16, 2024. With Mr. Willis’s election, the Board now includes nine directors, eight of whom are independent. Mr. Willis is senior vice president and chief financial officer (CFO) at Ashland Inc. As CFO, he oversees Ashland's worldwide financial functions and processes, and as a member of Ashland's executive committee, he shares overall responsibility for setting global strategy, managing capital and upholding the company’s operating principles. During Mr. Willis’ 37-year tenure at Ashland, he has held accounting, finance and treasury management roles of increasing responsibility, including an international posting in the Netherlands to standardize processes across European operations. Reported Earnings • Oct 30
Third quarter 2024 earnings released: US$2.95 loss per share (vs US$0.70 profit in 3Q 2023) Third quarter 2024 results: US$2.95 loss per share (down from US$0.70 profit in 3Q 2023). Revenue: US$376.9m (down 16% from 3Q 2023). Net loss: US$107.2m (down US$132.4m from profit in 3Q 2023). Revenue is forecast to grow 1.3% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 75 percentage points per year, which is a significant difference in performance. Duyuru • Oct 30
Ingevity Corporation Reaffirms Financial Guidance for the Full Year 2024 Ingevity Corporation reaffirmed financial guidance for the full year 2024. The company is affirming guidance of sales between $1.40 billion and $1.50 billion. New Risk • Sep 15
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.6x net interest cover). Minor Risk Share price has been volatile over the past 3 months (6.9% average weekly change). Reported Earnings • Aug 01
Second quarter 2024 earnings released: US$7.82 loss per share (vs US$0.98 profit in 2Q 2023) Second quarter 2024 results: US$7.82 loss per share (down from US$0.98 profit in 2Q 2023). Revenue: US$390.6m (down 19% from 2Q 2023). Net loss: US$283.7m (down US$319.2m from profit in 2Q 2023). Revenue is forecast to grow 1.1% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 56 percentage points per year, which is a significant difference in performance. Duyuru • Aug 01
Ingevity Corporation Revises Earnings Guidance for the Full Year 2024 Ingevity Corporation revised earnings guidance for the full year 2024. For the year, the company expects sales between $1.40 billion and $1.50 billion. Duyuru • Jul 01
Ingevity Corporation Announces Executive Changes On June 26, 2024, Stacy L. Cozad notified Ingevity Corporation of her decision to resign as Executive Vice President, General Counsel and Secretary of the Company, which resignation took effect as of such date. Ryan C. Fisher, previously the Company’s Vice President, Deputy General Counsel and Chief Compliance Officer, has been appointed Senior Vice President, General Counsel and Secretary of the Company. Buy Or Sell Opportunity • May 24
Now 21% undervalued Over the last 90 days, the stock has risen 2.0% to €44.28. The fair value is estimated to be €55.72, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Meanwhile, the company became loss making. Duyuru • May 03
Ingevity Corporation Reiterates Earnings Guidance for the Full Year 2024 Ingevity Corporation reiterated earnings guidance for the full year 2024. For the period, Company expects sales between $1.40 billion and $1.55 billion. Reported Earnings • May 02
First quarter 2024 earnings released: US$1.54 loss per share (vs US$1.36 profit in 1Q 2023) First quarter 2024 results: US$1.54 loss per share (down from US$1.36 profit in 1Q 2023). Revenue: US$340.1m (down 13% from 1Q 2023). Net loss: US$56.0m (down 211% from profit in 1Q 2023). Revenue is forecast to grow 1.0% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Duyuru • Apr 20
Ingevity Corporation to Report Q1, 2024 Results on May 01, 2024 Ingevity Corporation announced that they will report Q1, 2024 results After-Market on May 01, 2024 Duyuru • Mar 15
Ingevity Corporation Announces Resignation of William J. Slocum from Board On March 12, 2024, William J. Slocum informed the Nominating & Governance Committee of the Board of Directors (the “Board”) of Ingevity Corporation (the “Company”) of his resignation from the Board effective as of March 13, 2024 at 5:00 p.m. Mr. Slocum’s resignation from the Board did not result from any disagreement with the Company on any matter relating to its operations, policies or practices. As disclosed in the Company’s definitive proxy statement on Schedule 14A for its 2024 Annual Meeting of Stockholders (the “Annual Meeting”), which was filed with the SEC on March 11, 2024, the size of the Board will decrease to 9 effective as of the date of the Annual Meeting. Duyuru • Mar 12
Ingevity Corporation, Annual General Meeting, Apr 23, 2024 Ingevity Corporation, Annual General Meeting, Apr 23, 2024, at 09:30 US Eastern Standard Time. Agenda: To consider and elect the nine (9) director nominees named in the proxy statement; to consider and approve, on a non-binding, advisory basis, the compensation of the Company’s named executive officers; to ratify the appointment of PricewaterhouseCoopers LLP as the Company’s independent registered public accounting firm for 2024; to consider and approve the amendment to the Company’s Certificate of Incorporation to provide for the exculpation of certain officers from liability in limited circumstances; and to consider any other business properly brought before the meeting. Reported Earnings • Feb 22
Full year 2023 earnings released: US$0.15 loss per share (vs US$5.54 profit in FY 2022) Full year 2023 results: US$0.15 loss per share (down from US$5.54 profit in FY 2022). Revenue: US$1.69b (up 1.4% from FY 2022). Net loss: US$5.40m (down 103% from profit in FY 2022). Revenue is expected to decline by 4.7% p.a. on average during the next 3 years, while revenues in the Chemicals industry in Germany are expected to grow by 2.7%. Over the last 3 years on average, earnings per share has fallen by 11% per year whereas the company’s share price has fallen by 9% per year. Duyuru • Feb 22
Ingevity Corporation Provides Earnings Guidance for the Year 2024 Ingevity Corporation provided earnings guidance for the year 2024. The company announced its 2024 guidance of sales between $1.40 billion and $1.55 billion. Duyuru • Feb 09
Ingevity Corporation to Report Q4, 2023 Results on Feb 21, 2024 Ingevity Corporation announced that they will report Q4, 2023 results After-Market on Feb 21, 2024 New Risk • Nov 04
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (18% operating cash flow to total debt). Minor Risks Share price has been volatile over the past 3 months (6.3% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (7.5% net profit margin). Reported Earnings • Nov 03
Third quarter 2023 earnings released: EPS: US$0.70 (vs US$1.99 in 3Q 2022) Third quarter 2023 results: EPS: US$0.70 (down from US$1.99 in 3Q 2022). Revenue: US$446.0m (down 7.5% from 3Q 2022). Net income: US$25.2m (down 67% from 3Q 2022). Profit margin: 5.7% (down from 16% in 3Q 2022). Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Duyuru • Oct 20
Ingevity Corporation to Report Q3, 2023 Results on Nov 01, 2023 Ingevity Corporation announced that they will report Q3, 2023 results After-Market on Nov 01, 2023 New Risk • Aug 04
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 17% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. This is currently the only risk that has been identified for the company. Reported Earnings • Aug 03
Second quarter 2023 earnings released: EPS: US$0.97 (vs US$1.55 in 2Q 2022) Second quarter 2023 results: EPS: US$0.97 (down from US$1.55 in 2Q 2022). Revenue: US$481.8m (up 15% from 2Q 2022). Net income: US$35.5m (down 41% from 2Q 2022). Profit margin: 7.4% (down from 14% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 1.8% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 5% per year. Duyuru • Jul 22
Ingevity Corporation to Report Q2, 2023 Results on Aug 02, 2023 Ingevity Corporation announced that they will report Q2, 2023 results After-Market on Aug 02, 2023 Valuation Update With 7 Day Price Move • May 11
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to €51.50, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 13x in the Chemicals industry in Germany. Total returns to shareholders of 20% over the past three years. Duyuru • May 05
Ingevity Corporation Announces Sales Guidance for 2023 Ingevity Corporation announced sales guidance for 2023. For the year, the company adjusting full year guidance to sales between $1.75 billion and $1.95 billion. Reported Earnings • May 04
First quarter 2023 earnings released: EPS: US$1.36 (vs US$1.56 in 1Q 2022) First quarter 2023 results: EPS: US$1.36 (down from US$1.56 in 1Q 2022). Revenue: US$392.6m (up 2.6% from 1Q 2022). Net income: US$50.7m (down 17% from 1Q 2022). Profit margin: 13% (down from 16% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 2.6% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth. Recent Insider Transactions • Mar 15
Insider recently sold €110k worth of stock On the 7th of March, Richard White sold around 1k shares on-market at roughly €76.58 per share. This transaction amounted to 18% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth €385k. Insiders have been net sellers, collectively disposing of €789k more than they bought in the last 12 months. Reported Earnings • Mar 01
Full year 2022 earnings released: EPS: US$5.54 (vs US$2.97 in FY 2021) Full year 2022 results: EPS: US$5.54 (up from US$2.97 in FY 2021). Revenue: US$1.67b (up 20% from FY 2021). Net income: US$211.6m (up 79% from FY 2021). Profit margin: 13% (up from 8.5% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 2.0% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Feb 16
Ingevity Corporation to Report Q4, 2022 Results on Feb 27, 2023 Ingevity Corporation announced that they will report Q4, 2022 results After-Market on Feb 27, 2023 Recent Insider Transactions • Dec 07
Insider recently sold €64k worth of stock On the 2nd of December, Erik Ripple sold around 856 shares on-market at roughly €74.24 per share. This transaction amounted to 7.8% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Reported Earnings • Nov 03
Third quarter 2022 earnings released: EPS: US$2.00 (vs US$0.11 loss in 3Q 2021) Third quarter 2022 results: EPS: US$2.00 (up from US$0.11 loss in 3Q 2021). Revenue: US$482.0m (up 28% from 3Q 2021). Net income: US$75.4m (up US$79.6m from 3Q 2021). Profit margin: 16% (up from net loss in 3Q 2021). Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, while revenues in the Chemicals industry in Germany are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has fallen by 7% per year. Reported Earnings • Aug 03
Second quarter 2022 earnings released: EPS: US$1.55 (vs US$1.11 in 2Q 2021) Second quarter 2022 results: EPS: US$1.55 (up from US$1.11 in 2Q 2021). Revenue: US$419.9m (up 17% from 2Q 2021). Net income: US$59.8m (up 35% from 2Q 2021). Profit margin: 14% (up from 12% in 2Q 2021). Over the next year, revenue is forecast to grow 7.5%, compared to a 6.1% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 8% per year whereas the company’s share price has fallen by 5% per year. Reported Earnings • May 06
First quarter 2022 earnings released: EPS: US$1.56 (vs US$1.21 in 1Q 2021) First quarter 2022 results: EPS: US$1.56 (up from US$1.21 in 1Q 2021). Revenue: US$382.8m (up 20% from 1Q 2021). Net income: US$60.8m (up 25% from 1Q 2021). Profit margin: 16% (in line with 1Q 2021). Over the next year, revenue is forecast to grow 8.7%, compared to a 8.5% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 6% per year whereas the company’s share price has fallen by 10% per year. Duyuru • May 05
Ingevity Corporation Raises Earnings Guidance for the Year 2022 Ingevity Corporation raised earnings guidance for the year 2022. For the year, the company raised the top ends of its 2022 guidance ranges to sales between $1.525 billion to $1.65 billion. Board Change • Apr 27
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 7 experienced directors. No highly experienced directors. President, CEO & Director John Fortson was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Duyuru • Apr 21
Ingevity Corporation to Report Q1, 2022 Results on May 04, 2022 Ingevity Corporation announced that they will report Q1, 2022 results After-Market on May 04, 2022 Board Change • Apr 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 7 experienced directors. No highly experienced directors. President, CEO & Director John Fortson was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Mar 02
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 7 experienced directors. No highly experienced directors. President, CEO & Director John Fortson was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Duyuru • Feb 24
Ingevity Corporation Provides Earnings Guidance for the Year 2022 Ingevity Corporation provided earnings guidance for the year 2022. For the year, the company expects sales between $1.525 billion to $1.60 billion. Reported Earnings • Feb 24
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: US$2.97 (down from US$4.39 in FY 2020). Revenue: US$1.39b (up 14% from FY 2020). Net income: US$118.1m (down 35% from FY 2020). Profit margin: 8.5% (down from 15% in FY 2020). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 3.3%. Over the next year, revenue is forecast to grow 2.2%, compared to a 6.6% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 17% per year, which means it is performing significantly worse than earnings. Reported Earnings • Oct 29
Third quarter 2021 earnings released: US$0.11 loss per share (vs US$1.69 profit in 3Q 2020) The company reported a soft third quarter result with weaker earnings and weaker control over costs, although revenues improved. Third quarter 2021 results: Revenue: US$376.8m (up 14% from 3Q 2020). Net loss: US$4.20m (down 106% from profit in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Duyuru • Sep 19
Ingevity Corporation Announces Intends to Challenge a Jury Verdict Rendered on Sept. 15, 2021 in the U.S. District Court in Delaware Related to Claims by BASF Corporation On September 15, 2021, a verdict was rendered in the matter of Ingevity Corp. et al. v. BASF Corp., in which BASF Corporation ("BASF"), Florham Park, New Jersey, brought action against Ingevity Corp. in U.S. District Court in Delaware (Wilmington), relating to the Company's enforcement of its patent covering canister systems used in automotive gasoline vapor emissions control (Patent No. RE38,844) and the Company's agreements with customers of its fuel vapor canister honeycombs. BASF claimed that Ingevity engaged in anticompetitive activities and interfered with an alleged prospective relationship between BASF and a customer. The jury ordered the Company to pay antitrust damages of approximately $28 million, which will automatically be tripled under U.S. antitrust law to approximately $85 million. Ingevity believes in the strength of its intellectual property and the merits of its position, and intends to pursue all legal relief available to challenge this outcome. Ingevity’s ’844 patent – set to expire in March 2022 – relates to certain canister systems designed to achieve gasoline vapor emissions levels that comply with the most stringent U.S. Environmental Protection Agency Tier 3 and California LEV III regulations. The verdict relates to the company’s enforcement of its patent rights regarding fuel vapor canisters in the U.S. and Canada that use its honeycomb scrubber to reduce certain types of vehicle emissions, as well as to supply agreements with certain customers. The verdict is not related to the manufacture of Ingevity’s activated carbon. The company does not anticipate an immediate impact to commercial sales and is not aware of a competing certified or tested honeycomb that could replace sales of Ingevity’s product immediately due to the multiyear automotive design cycle of original equipment manufacturers and Tier 1 suppliers. The decision has no bearing on the company’s ’649 patent family obtained in the U.S., Europe and China to reduce emissions in low-purge engines, which Ingevity believes could apply to anywhere from 25% to 60% of future near-zero fuel system designs. Ingevity’s Nuchar® activated carbon products are manufactured to both capture gasoline emissions and return them to the engine for their intended use, giving the company a competitive advantage in providing original equipment manufacturers with the greatest flexibility, quality and reliability and minimal canister design. Nuchar products are part of Ingevity’s Performance Materials segment that has manufacturing facilities in Covington, Virginia, Wickliffe, Kentucky, Waynesboro, Georgia, and Changshu and Zhuhai, China. Ingevity estimates that the gasoline emissions captured and recovered globally using our activated carbon results in a savings of roughly 40 million tons of CO2 every year. Reported Earnings • Jul 30
Second quarter 2021 earnings released: EPS US$1.11 (vs US$0.49 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: US$358.4m (up 32% from 2Q 2020). Net income: US$44.3m (up 119% from 2Q 2020). Profit margin: 12% (up from 7.5% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Duyuru • May 25
Ingevity Corporation Receives Grant to Help Fund Demonstration of 28 Adsorbed Natural Gas-Powered Trucks and Vans with Fleet Partners Across Pennsylvania Ingevity Corporation announced it was awarded approximately $256,000 in funding from the Pennsylvania Department of Environmental Protection as part of the 2020 Alternative Fuels Incentive Grant (AFIG) Program. The grant will be used to demonstrate the economic and environmental benefits of renewable natural gas (RNG) and Ingevity’s adsorbed natural gas (ANG) vehicle platform with eight fleets throughout Pennsylvania. Representing the first use of ANG technology in the state, the AFIG award will cover half of the incremental cost to equip 28 Ford Super Duty F-250 trucks and Ford Transit vans with ANG technology and install complementary low-pressure fueling appliances for participants, as well as costs associated with data collection and analysis. Ingevity’s grant proposal was supported by a majority of the state’s natural gas utilities, including Columbia Gas of Pennsylvania, National Fuel Gas, Peoples Natural Gas, Philadelphia Gas Works and UGI Corporation, as well as commercial partners such as Range Resources, Bloxdorf Contracting, Gateway Engineers and In City Farms. Participating fleets will cover the remaining 50% of the ANG vehicle upfit and fueling appliance costs. Reported Earnings • Apr 30
First quarter 2021 earnings released: EPS US$1.21 (vs US$1.09 in 1Q 2020) The company reported a solid first quarter result with improved earnings and revenues, although profit margins were flat. First quarter 2021 results: Revenue: US$320.3m (up 11% from 1Q 2020). Net income: US$48.7m (up 7.5% from 1Q 2020). Profit margin: 15% (in line with 1Q 2020). Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Duyuru • Apr 29
Ingevity Corporation Revises Earnings Guidance for the Fiscal Year 2021 Ingevity Corporation announced that it has increased its fiscal year 2021 guidance for sales from between $1.25 billion and $1.30 billion to sales between $1.275 billion to $1.325 billion. Is New 90 Day High Low • Mar 13
New 90-day high: €65.00 The company is up 10.0% from its price of €59.00 on 11 December 2020. The German market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €80.25 per share. Duyuru • Mar 09
Ingevity Corporation, Annual General Meeting, Apr 22, 2021 Ingevity Corporation, Annual General Meeting, Apr 22, 2021, at 09:30 US Eastern Standard Time. Agenda: To consider election of the eight director nominees named in Proxy Statement; to ratify the appointment of PricewaterhouseCoopers LLP as independent registered public accounting firm for the fiscal year ending December 31, 2021; to approve on an advisory (non-binding) basis the compensation paid to named executive officers (Say-on-Pay); and to transact such other business that may properly come before the Annual Meeting and any adjournment or postponement thereof. Duyuru • Feb 24
City of Orlando Partners with Ingevity to Pilot Demonstration Fleet of Adsorbed Natural Gas Trucks The City of Orlando has announced it will participate in a demonstration program of adsorbed natural gas (ANG) bi-fuel vehicle technology developed by Ingevity Corporation . Orlando will add two ANG-equipped Ford F-150 pickup trucks to its fleet to assess data related to fuel savings and greenhouse gas (GHG) emissions reductions. Made possible by the unique characteristics of Ingevity’s Nuchar® FuelSorb™ hardwood-based activated carbon monoliths, ANG technology reduces the onboard storage pressure of natural gas, enabling a low-cost natural gas fueling solution for the light-duty segment. Bi-fuel ANG trucks can be fueled at public-access compressed natural gas (CNG) stations or conveniently on-site at work through a small fueling compressor, reducing energy consumption by over 50% and markedly reducing fueling time. ANG vehicles emit 25% fewer GHG emissions than comparable gasoline and diesel vehicles and, when fueled with renewable natural gas, GHG emissions can be reduced by up to 125%. Duyuru • Feb 18
Ingevity Corporation Announces Board Changes Ingevity Corporation announced that Jean Blackwell has been elected by the company’s board of directors as chair of the board. Jean’s appointment comes in the wake of the untimely death of former Chairman Richard B. Kelson on February 13, 2021. Blackwell has been a member of Ingevity’s board of directors since the company’s spin-off from WestRock in 2016. She has served as the chair of the Audit Committee and a member of the Leadership Development and Compensation Committee. Blackwell joined Cummins Inc. in 1997 and held various leadership roles during her tenure with the company including executive vice president and chief financial officer; vice president and general counsel; vice president, Cummins Business Services; and vice president, human resources. Executive Departure • Feb 16
Chairman of the Board Richard Kelson has left the company On the 13th of February, Richard Kelson's tenure as Chairman of the Board ended after 4.8 years in the role. As of December 2020, Richard personally held 8.65k shares (€519k worth at the time). A total of 4 executives have left over the last 12 months. Duyuru • Feb 16
Ingevity Mourns Passing of Chairman of the Board Rick Kelson Ingevity Corporation announced that Richard B. Kelson, 74, chairman of the board of Ingevity, passed away on February 13 in New York City. Kelson served as the company’s chairman since its spin-off from WestRock in May 2016. Kelson grew up in the southern suburbs of Pittsburgh. He received a Bachelor of Arts degree in political science from the University of Pennsylvania and a Juris Doctor degree from the University of Pittsburgh. He also served in the U.S. Army Reserves. He spent more than 30 years with Alcoa Inc., serving in senior management roles including positions in the company’s legal department and as executive vice president – Environment, Health and Safety and general counsel, and as a member of Alcoa’s Executive Council. He ultimately rose to become the company’s executive vice president and chief financial officer for nearly a decade. He retired from Alcoa in 2006 holding the position of chairman’s counsel. After his retirement, Kelson remained active in business and was chairman, president and chief executive officer of ServCo LLC since 2009. He also served as an operating advisor with Pegasus Capital Advisors, L.P. from 2006 to 2010. In addition to serving as chairman of the board of Ingevity, Kelson was a member of the board of directors of Commercial Metals Corporation, where he served as lead director from 2014 to 2019, and a member of the board of Ecovative Design LLC. He previously served on the boards of directors of PNC Financial Services Group Inc. (2002-2020), MeadWestvaco Corporation, formerly Westvaco (2001-2015), Anadigics Inc. (2015-2016), and Lighting Science Group Corporation (2007-2010). He was a member of the Board of Trustees at Carnegie Mellon University from 2000 to 2006 and served on the board of the University of Pittsburgh Law School Board of Visitors since 2000. Kelson was a member of the Board of Directors for the non-profit KaBOOM Inc. from 2008 until 2014, where he served as Chairperson of the Board for the majority of his term. Ingevity will make a donation in memory of Rick Kelson to the Penn Center for Research on Coronavirus. The company’s board will select a new chairman over the next several days who will preside over the regularly scheduled board meetings later this week. The company will make an announcement subsequent to the board’s decision. Reported Earnings • Feb 12
Full year 2020 earnings released: EPS US$4.51 (vs US$4.40 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: US$1.22b (down 5.9% from FY 2019). Net income: US$186.2m (up 1.4% from FY 2019). Profit margin: 15% (up from 14% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Analyst Estimate Surprise Post Earnings • Feb 12
Revenue beats expectations Revenue exceeded analyst estimates by 3.7%. Over the next year, revenue is forecast to grow 5.2%, compared to a 5.1% growth forecast for the Chemicals industry in Germany. Executive Departure • Feb 03
Interim General Counsel & Secretary has left the company On the 1st of February, Ryan Fisher's tenure as Interim General Counsel & Secretary ended after less than a year in the role. We don't have any record of a personal shareholding under Ryan's name. A total of 3 executives have left over the last 12 months. Duyuru • Jan 15
Ingevity Corporation to Report Q4, 2020 Results on Feb 10, 2021 Ingevity Corporation announced that they will report Q4, 2020 results After-Market on Feb 10, 2021 Duyuru • Jan 14
Ingevity Corporation Appoints Stacy Cozad as Executive Vice President, General Counsel and Secretary, Effective February 1, 2021 Ingevity Corporation announced that it has named Stacy Lancaster Cozad as executive vice president, general counsel and secretary, effective February 1, 2021. The general counsel role became vacant with the retirement of Katherine C. Burgeson on August 1, 2020. Cozad joins Ingevity from Spirit AeroSystems Holdings Inc., where she served as senior vice president, general counsel, chief compliance officer and corporate secretary since January 2016. Her responsibilities included the company’s ethics and compliance program, contracts management, export compliance, business continuity and corporate governance. Prior to joining Spirit, Cozad was with Southwest Airlines Co., first as senior attorney from 2006 to 2009 and then as associate general counsel – litigation from 2009 to 2015. Is New 90 Day High Low • Dec 29
New 90-day high: €60.50 The company is up 42% from its price of €42.60 on 30 September 2020. The German market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 18% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €77.24 per share. Valuation Update With 7 Day Price Move • Nov 16
Market bids up stock over the past week After last week's 17% share price gain to US$58.50, the stock is trading at a trailing P/E ratio of 15.6x, up from the previous P/E ratio of 13.3x. This compares to an average P/E of 26x in the Chemicals industry in Germany. Total return to shareholders over the past three years is a loss of 6.5%. Is New 90 Day High Low • Nov 11
New 90-day high: €59.00 The company is up 10.0% from its price of €53.50 on 12 August 2020. The German market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €72.54 per share. Valuation Update With 7 Day Price Move • Nov 11
Market bids up stock over the past week After last week's 19% share price gain to US$59.00, the stock is trading at a trailing P/E ratio of 15.9x, up from the previous P/E ratio of 13.3x. This compares to an average P/E of 25x in the Chemicals industry in Germany. Total return to shareholders over the past three years is a loss of 7.0%. Reported Earnings • Oct 30
Third quarter earnings released Over the last 12 months the company has reported total profits of US$179.7m, down 1.0% from the prior year. Total revenue was US$1.19b over the last 12 months, down 5.9% from the prior year. Analyst Estimate Surprise Post Earnings • Oct 30
Third-quarter earnings released: Revenue beats expectations Third-quarter revenue exceeded analyst estimates by 5.9% at US$332.0m. Revenue is forecast to grow 4.1% over the next year, compared to a 2.3% growth forecast for the Chemicals industry in Germany. Duyuru • Oct 08
Ingevity Names Erik Ripple as Chief Growth and Innovation Officer Ingevity Corporation named Erik Ripple as the company’s chief growth and innovation officer and as such will join the company’s leadership team, effective October 1. Ripple had previously served as president, Asia /Pacific for Ingevity, and will continue to hold those responsibilities on an interim basis until a permanent replacement is named. Ripple joined Ingevity in April 2010 as director, corporate development leading strategic acquisition initiatives. Prior to joining Ingevity, Ripple spent 18 years with Eastman Chemical Company, rising through positions of increasing responsibility including business and regional leadership roles. His two most recent assignments at Eastman were as corporate development manager from 2005 to 2008 and as innovation leader from 2008 to 2010.