Ingevity (NGVT) Tops Q2 EPS by 23c; Raises Outlook
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Ingevity reports second quarter 2021 financial results and increases full year 2021 guidance
July 28, 2021 4:15 PM EDTHIGHLIGHTS: (comparisons versus prior year period)
Ingevity delivers strong second quarter results driven by higher volumes and supported by price increases across both segments Net sales of $358.4 million up 32.4% Net income of $44.3 million rose 119.3%; net income margin of 12.4%, up 490 basis points Adjusted EBITDA of $117.7 million rose 75.1%; adjusted EBITDA margin of 32.8%, up 800 basis points Operating cash flow of $65.8 million drove free cash flow up 23.6% to $41.9 million Company increases full year 2021 guidance to sales between $1.320 billion and $1.360 billion and adjusted EBITDA between $425 million and $440 million... More