$NGVT
Ingevity Corp
CIK:0001653477|SEC Filings
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||||||
|---|---|---|---|---|---|---|---|---|
Jun. 30, 2026 |
Jun. 30, 2025 |
Jun. 30, 2026 |
Jun. 30, 2025 |
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| Income Statement [Abstract] | ||||||||
| Net sales | $ 314.1 | $ 331.5 | $ 572.1 | $ 579.4 | ||||
| Cost of sales | 175.1 | 203.7 | 316.7 | 339.7 | ||||
| Gross profit | 139.0 | 127.8 | 255.4 | 239.7 | ||||
| Selling, general, and administrative expenses | 39.0 | 43.6 | 79.7 | 85.5 | ||||
| Research and technical expenses | 6.1 | 7.0 | 12.8 | 14.0 | ||||
| Restructuring and other (income) charges, net | 1.7 | 7.2 | 2.2 | 9.1 | ||||
| Goodwill impairment charge | 0.0 | 183.8 | 0.0 | 183.8 | ||||
| Long-lived asset impairment charge | 32.1 | 0.0 | 32.1 | [1] | 0.0 | [1] | ||
| Other (income) expense, net | (4.8) | 4.2 | 17.6 | 8.3 | ||||
| Interest expense, net | 14.2 | 18.6 | 30.1 | 38.0 | ||||
| Income (loss) from continuing operations before income taxes | 50.7 | (136.6) | 80.9 | (99.0) | ||||
| (Provision) benefit for income taxes on continuing operations | 10.9 | 4.8 | 17.7 | 13.3 | ||||
| Net income (loss) from continuing operations | 39.8 | (141.4) | 63.2 | (112.3) | ||||
| Income (loss) from discontinued operations, net of income taxes | (4.5) | (5.1) | 31.9 | (13.7) | ||||
| Net income (loss) | $ 35.3 | $ (146.5) | $ 95.1 | [1] | $ (126.0) | [1] | ||
| Per share data | ||||||||
| Basic earnings (loss) per share from continuing operations (usd per share) | $ 1.15 | $ (3.87) | $ 1.81 | $ (3.08) | ||||
| Basic earnings (loss) per share from discontinued operations (usd per share) | (0.13) | (0.15) | 0.91 | (0.38) | ||||
| Basic earnings (loss) per share (usd per share) | 1.02 | (4.02) | 2.72 | (3.46) | ||||
| Diluted earnings (loss) per share from continuing operations (usd per share) | 1.13 | (3.87) | 1.78 | (3.08) | ||||
| Diluted earnings (loss) per share from discontinued operations (usd per share) | (0.13) | (0.15) | 0.89 | (0.38) | ||||
| Diluted earnings (loss) per share (usd per share) | $ 1.00 | $ (4.02) | $ 2.67 | $ (3.46) | ||||
| ||||||||
Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions |
Jun. 30, 2026 |
Dec. 31, 2025 |
|---|---|---|
| Assets | ||
| Cash and cash equivalents | $ 97.4 | $ 78.1 |
| Accounts receivable, net of allowance of $1.1 and $1.5 | 155.8 | 127.2 |
| Inventories, net | 154.0 | 186.0 |
| Restricted investment, net of allowance of zero | 85.8 | 0.0 |
| Prepaid and other current assets | 50.8 | 47.0 |
| Current assets of discontinued operations | 0.0 | 15.9 |
| Current assets | 543.8 | 454.2 |
| Property, plant, and equipment, net | 575.0 | 608.1 |
| Operating lease assets, net | 33.0 | 29.5 |
| Goodwill | 4.3 | 4.3 |
| Other intangibles, net | 137.3 | 176.1 |
| Deferred income taxes | 87.0 | 117.0 |
| Restricted investment, net of allowance of $0.2 | 0.0 | 84.4 |
| Strategic investments | 83.4 | 83.1 |
| Other assets | 73.7 | 74.9 |
| Noncurrent assets of discontinued operations | 0.0 | 19.5 |
| Total Assets | 1,537.5 | 1,651.1 |
| Liabilities | ||
| Accounts payable | 88.0 | 92.0 |
| Accrued expenses | 60.3 | 148.0 |
| Accrued payroll and employee benefits | 24.9 | 34.6 |
| Current operating lease liabilities | 12.2 | 11.8 |
| Notes payable and current maturities of long-term debt | 144.0 | 47.1 |
| Income taxes payable | 8.2 | 4.7 |
| Current liabilities of discontinued operations | 0.0 | 3.1 |
| Current liabilities | 337.6 | 341.3 |
| Long-term debt including finance lease obligations | 1,056.2 | 1,161.4 |
| Noncurrent operating lease liabilities | 23.9 | 22.4 |
| Deferred income taxes | 44.2 | 55.1 |
| Other liabilities | 28.7 | 40.5 |
| Noncurrent liabilities of discontinued operations | 0.0 | 0.7 |
| Total Liabilities | 1,490.6 | 1,621.4 |
| Commitments and contingencies (Note 13) | ||
| Equity | ||
| Preferred stock (par value $0.01 per share; 50,000,000 shares authorized; zero issued and outstanding at 2026 and 2025) | 0.0 | 0.0 |
| Common stock (par value $0.01 per share; 300,000,000 shares authorized; 44,217,477 and 43,891,710 issued and 34,483,413 and 35,485,876 outstanding at 2026 and 2025, respectively) | 0.4 | 0.4 |
| Additional paid-in capital | 209.1 | 195.7 |
| Retained earnings | 500.0 | 404.9 |
| Accumulated other comprehensive income (loss) | 1.0 | 0.5 |
| Treasury stock, common stock, at cost (9,734,064 shares - 2026 and 8,405,834 shares - 2025) | (663.6) | (571.8) |
| Total Equity | 46.9 | 29.7 |
| Total Liabilities and Equity | $ 1,537.5 | $ 1,651.1 |