Ingevity reports Q2 adjusted EPS $1.41, consensus $1.37

Reports Q2 revenue $481.8M, consensus $486.43M. “This quarter we delivered double-digit revenue growth and maintained strong adjusted EBITDA margins in a challenging economic environment. Sales in our Performance Materials segment and Pavement Technologies business line were up due to an improved automotive market and a strong paving season, which more than offset weakness in the Industrial Specialties business line, particularly in our rosin end markets. In Advanced Polymer Technologies, EBITDA more than tripled as we implemented margin improvement initiatives and benefited from lower input costs,” said John Fortson, president and CEO. “Our strong results in this environment reflect our broad portfolio of products that serve diverse end markets across all regions. In addition, we began to take actions to better align our cost structure with current economic conditions and the continuing margin pressure on crude tall oil (CTO) based products. We remain disciplined in managing costs while delivering specialty products and technologies that purify, protect, and enhance the world around us.”