Ingevity (NGVT) Misses Q4 EPS by 30c; Offers FY23 Guidance

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Go back to Ingevity (NGVT) Misses Q4 EPS by 30c; Offers FY23 Guidance

Ingevity reports fourth quarter and full year 2022 financial results

February 27, 2023 4:15 PM EST

Highlights:

Full year 2022 was a record year for both net sales and EBITDA, driven by growth across all business segments; fourth quarter results were negatively impacted primarily by significant customer destocking in the second half of the quarter.

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; adjusted earnings of $21.5 million and diluted adjusted EPS of $0.57 Adjusted EBITDA of $74.3 million and adjusted EBITDA margin of 19.4% Share repurchases of $6.0 million

Full Year... More