Ingevity (NYSE: NGVT) reported Q1 EPS of $1.27, $0.24 better than the analyst estimate of $1.03. Revenue for the quarter came in at $320.3 million versus the consensus estimate of $291.82 million.

GUIDANCE:

Ingevity sees Q2 2021 revenue of $1.28-1.33 billion, versus the consensus of $1.29 billion.

• Ingevity announced that it has increased its fiscal year 2021 guidance for sales from between $1.25 billion and $1.30 billion to sales between $1.275 billion to $1.325 billion, and for adjusted EBITDA from between $400 million and $420 million to adjusted EBITDA between $410 million to $430 million.
• “We continue to make progress in the implementation of our Ingevity 2.0 growth strategy, as evidenced by the recent announcement of our strategic partnership with GreenGasUSA Holdings, LLC,” said Fortson.
• “While our performance continues to improve, we are carefully watching issues related to transportation and logistics, raw material inflation, and automotive raw materials disruptions that could become stronger headwinds throughout the rest of the year,” said Fortson. “Based on our strong first quarter and continued optimism, we feel confident raising our guidance.”

For earnings history and earnings-related data on Ingevity (NGVT) click here.