Ingevity (NGVT) Tops Q1 EPS by 58c; Bumps Guidance
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Ingevity reports first quarter 2022 financial results
May 4, 2022 4:15 PM EDTHIGHLIGHTS: (comparisons versus prior year period)
Company delivered strong results driven by record sales of $382.8 million, up 19.5% Net income of $60.8 million and diluted earnings per share (EPS) of $1.55; adjusted earnings of $63.5 million and diluted adjusted EPS of $1.62 Record first quarter adjusted EBITDA of $119.0 million, up 12.9% and adjusted EBITDA margin of 31.1% Operating cash flow of $24.3 million and free cash flow of negative $3.3 million, reflecting working capital increases driven by the strong sales Company adjusts full year 2022 guidance increasing the top ends of the ranges to sales between $1.525 billion and $1.65 billion and adjusted... More