Ingevity reports record FY2022 sales and EBITDA; Q4 impacted by destocking; guides FY2023 sales $1.9-2.1B

Ingevity Corp

2022-FY EPS reported $5.50 revenue$1,668,300,000

Q4 net sales $383.6M (+14.2% YoY); net income $15.6M ($0.41 diluted EPS); adjusted EPS $0.57.
Full year net sales $1.67B (+19.9%); net income $211.6M ($5.50 diluted EPS); adjusted EPS $6.01.
Full year adjusted EBITDA $452.6M (27.1% margin); operating cash flow $313.1M; free cash flow $170.6M.
FY2023 guidance: sales $1.9B-$2.1B, adjusted EBITDA $495M-$515M.
Q4 results negatively impacted by significant customer destocking in second half of quarter.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Ingevity Corp reported the three months ended December 31, 2022 results: revenue $383.6 million, net income $15.6 million, EPS $0.41.

Period: the three months ended December 31, 2022
Revenue: $383.6 million
Net income: $15.6 million
EPS: $0.41
Result: preliminary results

Exact text from the filing

Fourth Quarter (comparisons versus prior year period): • Net sales of $383.6 million increased 14.2%; • Net income of $15.6 million and diluted earnings per share (EPS) of $0.41

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Ingevity Corp reported the twelve months ended December 31, 2022 results: revenue $1.67 billion, net income $211.6 million, EPS $5.50.

Period: the twelve months ended December 31, 2022
Revenue: $1.67 billion
Net income: $211.6 million
EPS: $5.50
Result: preliminary results

Exact text from the filing

Full Year (comparisons versus prior year period): • Net sales of $1.67 billion increased 19.9% • Net income of $211.6 million and diluted EPS of $5.50

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Ingevity Corp reported full year 2023 results: revenue between $1.9 billion and $2.1 billion. Guidance initiated.

Period: full year 2023
Revenue: between $1.9 billion and $2.1 billion
Guidance: initiated
Result: guidance update

Exact text from the filing

Guidance: Company announces full year 2023 guidance for sales between $1.9 billion and $2.1 billion and adjusted EBITDA between $495 million and $515 million.

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Source: SEC EDGAR

accession 0001653477-23-000007

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