Ingevity reports second quarter 2020 financial results

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Go back to Ingevity reports second quarter 2020 financial results

Ingevity (NGVT) Tops Q2 EPS by 3c, Revenues Beat; Offers FY20 Revenue Guidance

July 29, 2020 4:52 PM EDT

Ingevity (NYSE: NGVT) reported Q2 EPS of $0.63, $0.03 better than the analyst estimate of $0.60. Revenue for the quarter came in at $270.6 million versus the consensus estimate of $256.3 million.

Ingevity delivers results in line with special, one-time second quarter guidance driven by cost reduction actions and strong executionCompany reaffirms fiscal year 2020 guidance of sales between $1.10 billion and $1.20 billion and adjusted EBITDA between $310 million and $350 millionCost reduction initiatives bolster second quarter profitability, and will save the company $35 million in 2020... More