Ingevity announces proposed private offering of senior unsecured notes
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Ingevity (NGVT) reports selected preliminary Q3 results
October 20, 2020 6:48 AM EDTIngevity Corporation (NYSE: NGVT) today reported selected preliminary financial results for the third quarter.
Ingevitys results were driven by global automotive demand and production rebound versus weak second quarter, continued strong paving activity, cost reduction actions and strong executionThird quarter net sales of $332 million were down 7.8% versus the prior year quarter driven by the economic impacts of COVID-19Net income of $70 million was up 16.7% versus prior year quarter; net income as a percentage of sales was 21.1%, compared to 16.6% in the prior year quarterThird quarter adjusted EBITDA of $128 million... More