Ingevity Corp reports results for the quarter ended in June - Earnings Summary

Ingevity

01/08/2024 01:08

* Ingevity Corp  NGVT.N  reported quarterly adjusted
earnings of
$1.01​​ per share for the quarter ended in June, lower than the
same quarter last year, when the company reported EPS of $1.41. 
The mean expectation of five analysts for the quarter was
for earnings of $1.05 per share. Wall Street expected results to
range from $1.00  to $1.11 per share.
    * Revenue fell 18.9% to $390.60 million from a year ago;
analysts
expected $407.58 million. 
    * Ingevity Corp's reported EPS for the quarter was a loss of
$7.81​.
    * The company reported a quarterly loss of $283.7 million.
    * Ingevity Corp shares had risen by 5.5% this quarter and
lost 2.4% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 3.9%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 2 "strong buy" or "buy," 3
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the diversified
chemicals peer group is also "buy"

Wall Street's median 12-month price target for Ingevity Corp is
$58.00 
This summary was machine generated from LSEG data August 1 at
12:08 a.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      1.05           1.01           Missed
 Mar. 31 2024      0.32           0.52           Beat
 Dec. 31 2023                     0.21           
 Sep. 30 2023      1.22           1.21           Missed