2023-08-02 16:53:03 ET
- Ingevity press release ( NYSE: NGVT ): Q2 Non-GAAP EPS of $1.41 beats by $0.03 .
- Revenue of $481.8M (+14.7% Y/Y) misses by $4.74M .
- Adjusted EBITDA of $120.7 million and adjusted EBITDA margin of 25.1%
- Operating cash flow of $48.4 million with free cash flow of $26.7 million
- Initiated cost reduction actions with anticipated annualized savings of approximately $35 million with $20 million expected to be realized in 2023
- Adjusted 2023 guidance for sales between $1.6 billion to $1.7 billion and adjusted EBITDA between $390 million to $420 million
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Ingevity Non-GAAP EPS of $1.41 beats by $0.03, revenue of $481.8M misses by $4.74M