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Lower volumes due to weak industrial demand hurt Ingevity's (NGVT) Advanced Polymer Technologies and the Industrial Specialties business lines in Q3.
While the top- and bottom-line numbers for Ingevity (NGVT) give a sense of how the business performed in the quarter ended September 2023, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
NORTH CHARLESTON, S.C.--(BUSINESS WIRE)--Ingevity announced today that it will release its third-quarter 2023 earnings after the stock market close on Wednesday, November 1, 2023.
Ingevity Corporation has seen declines in price due to recent earnings and balance sheet risks. Despite the leveraged balance sheet, Ingevity's diversification strategy and undervaluation make it a favorable investment. Analysts rate Ingevity as a "buy" with a 55.89% upside potential, indicating a positive risk-reward ratio.
Ingevity (NGVT) reported earnings 30 days ago. What's next for the stock?
Ingevity (NGVT) will receive 85 megawatts of capacity at a new NextEra Energy Resources solar site constructed in North Texas as part of the agreement.
Ingevity's (NGVT) Q2 revenues gain from higher prices across its segments, and increased volumes in the Performance Materials segment and the pavement technologies business line.
The headline numbers for Ingevity (NGVT) give insight into how the company performed in the quarter ended June 2023, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Net sales have recently increased thanks to product price raises, but volumes remain weak. Profit margins are depressed due to inflationary pressures, but cash from operations is high enough to cover interest expenses and capital expenditures. The company's long-term debt is manageable despite rising interest expenses, but the management should materialize its intentions to reduce it.
The SOIL certification is Ingevity's (NGVT) fifth TUV Austria OK certification for Capa thermoplastics products.