Ingevity Q1 2024 net loss of $56M, sales down 13%; reiterates full-year guidance

Ingevity Corp

2024-Q1 EPS reported -$1.54 revenue$340,100,000

Net sales $340.1M, down 13% YoY; net loss $56.0M ($1.54 diluted EPS loss).
Adjusted earnings $19.1M, adjusted EPS $0.52; adjusted EBITDA $76.9M (22.6% margin).
Operating cash flow negative $12.1M, free cash flow negative $28.7M, including $19.8M cash losses on CTO resales.
Realized $20M cost savings in Q1; targeting $65-75M for full year 2024.
Full-year 2024 guidance reaffirmed: sales $1.40B-$1.55B, adjusted EBITDA $365M-$390M.

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 0.95

Ingevity Corp reported the three months ended March 31, 2024 results: revenue $340.1 million, net income Net loss of $56.0 million and diluted loss per share (EPS) of $1.54; adjusted earnings of $19.1 million and diluted adju. Guidance reaffirmed.

Period: the three months ended March 31, 2024
Revenue: $340.1 million
Net income: Net loss of $56.0 million and diluted loss per share (EPS) of $1.54; adjusted earnings of $19.1 million and diluted adju
Guidance: reaffirmed
Result: preliminary results

Exact text from the filing

John E. Nypaver, Jr. 843-740-2002 investors@ingevity.com Ingevity reports first quarter 2024 financial results HIGHLIGHTS : (comparisons versus prior year period) • Net sales of $340.1 million, down 13% primarily as a result of the repositioning of Performance Chemicals • Net loss of $56.0 million and diluted loss per share (EPS) of $1.54; adjusted earnings of $19.1

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Source: SEC EDGAR

accession 0001653477-24-000055

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