Ingevity Q1 net sales $392.6M (+2.6%), adj EPS $1.09; FY23 guidance reaffirmed

Ingevity Corp

2023-Q1 EPS reported $1.35 revenue$392,600,000

Net sales $392.6M (+2.6% YoY), net income $50.7M, diluted EPS $1.35; adjusted EPS $1.09.
Adjusted EBITDA $103.9M (26.5% margin); operating cash flow $5.2M, free cash flow -$20.2M on seasonal inventory build.
Share repurchases of $33.4M in Q1.
Converting Crossett, AR plant to 100% non-CTO feedstocks for oleo-based alternate fatty acids.
FY23 guidance: sales $1.75-1.95B, adj EBITDA $450-480M.

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 0.96

Ingevity Corp updated its for the three months ended March 31, 2023 guidance (reaffirmed).

Period: for the three months ended March 31, 2023
Guidance: reaffirmed
Result: preliminary results

Exact text from the filing

On May 3, 2023, Ingevity Corporation ("Ingevity") announced its preliminary financial results for the three months ended March 31, 2023

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Source: SEC EDGAR

accession 0001653477-23-000033

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