Ingevity reports Q4 adjusted EPS 21c vs 57c last year

Reports Q4 revenue $371.7M, consensus $332.3M. “2023 was a record year for Performance Materials driven by increased global auto production and the growing popularity of hybrid electric vehicles, and the Road Technologies business line posted another strong year as the team’s strategic focus on expanding technology adoption keeps driving steady growth,” said John Fortson, President and CEO. “The global industrial slowdown negatively impacted volumes in Advanced Polymer Technologies and the Industrial Specialties business line, which also faced unprecedented increases in CTO costs. I remain confident that as we execute the growth strategy we shared last year, the strength we delivered in Performance Materials and Road Technologies will continue and our APT segment and Industrial Specialties business line are positioned for more profitable growth in less cyclical end markets.”