Ingevity Corporation (NYSE: NGVT) reported its financial results for the second quarter of 2025, revealing a 7% decline in net sales to $365.1 million, primarily attributed to lower sales in the performance chemicals segment.
The company reported a net loss of $146.5 million and diluted loss per share of $4.02, which included an advanced polymer technologies pre-tax non-cash goodwill impairment charge of $183.8 million. However, adjusted earnings increased by 39% to $51.1 million, with diluted adjusted earnings per share rising by 38% to $1.39. Adjusted EBITDA also improved by 9% to $110.0 million, with a margin of 30.1%.
In the Performance Materials segment, sales were down 2% to $153.9 million, while in the Advanced Polymer Technologies segment, sales decreased by 10% to $43.3 million. The Performance Chemicals segment saw a 10% decline in sales to $167.9 million, with segment EBITDA improving to $32.0 million, reflecting the successful execution of repositioning actions.
The operating cash flow was reported at $79.0 million, with free cash flow at $66.8 million. The company also announced that it has raised the low-end of its adjusted EBITDA guidance, with updated guidance now between $390 million and $415 million, while maintaining its sales guidance between $1.25 billion and $1.40 billion for the full year 2025.
Ingevity will host a live webcast on Tuesday, August 5th, at 10:00 a.m. (Eastern) to discuss its first-quarter fiscal results.
The company operates in three reporting segments: Performance Materials, which includes activated carbon; Advanced Polymer Technologies, which includes caprolactone polymers; and Performance Chemicals, which includes specialty chemicals and road technologies. It operates from 24 locations around the world and employs approximately 1,600 people. Today the company's shares have moved 1.04% to a price of $40.82. For the full picture, make sure to review Ingevity Corp's 8-K report.
