EarningsQ2 2026 Earnings Report
MX:NGVT Q2 2026 EPS Results
Actual EPS$31.60
Consensus EPS$24.10
Beat/MissBeat by +$7.50
One Year Ago EPS$25.24
MX:NGVT Q2 2026 Revenue Results
Actual Revenue$5.70B
Expected Revenue$5.67B
Beat/MissBeat by +$34.51M
YoY Revenue Growth-14.02%
Earnings Announcement Details
QuarterQ2 2026
Date07/29/2026
TimeAfter Close
Conference CallWednesday, July 29, 2026
MX:NGVT Upcoming Earnings
Ingevity's next earnings date is estimated for November 4, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:NGVT Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed strong operational execution and financial improvement across core businesses: robust margin expansion, higher adjusted EBITDA and EPS, improved free cash flow (excluding a litigation payment), reduced leverage, ongoing share repurchases, and raised full-year guidance. These positives were tempered by divestiture-driven reported sales declines, localized demand weakness (notably China and South America), elevated asphalt prices impacting pavement projects, planned maintenance outages and expected softer North American auto production in the back half, and some benefits that may be temporary (competitor disruptions). Overall, the company is executing its portfolio strategy and investing in high-potential organic growth areas (filtration, warm-mix asphalt, energy storage), positioning it for durable earnings power despite manageable near-term headwinds.Company Guidance
Revenue Performance (Ex-Divestiture)
Reported Q2 sales were $314 million; sales excluding the Road Markings divestiture increased over 5% year-over-year with growth across all three segments.
Adjusted EBITDA and Margin Expansion
Adjusted EBITDA increased nearly 14% to $115 million and adjusted EBITDA margin expanded more than 600 basis points to 36.6%, driven by pricing, favorable mix, improved asset utilization and operational execution.
Adjusted EPS Improvement
Adjusted earnings per share rose to $1.74 in the quarter, benefiting from stronger operating performance, lower interest expense, and ongoing share repurchases.
Strong Free Cash Flow and Discipline
Free cash flow (excluding a litigation settlement payment) was approximately $89 million and free cash flow per share increased to $2.52; capital expenditures remained disciplined at about $10 million.
Balance Sheet Progress and Share Repurchases
Trailing 12-month adjusted EBITDA rose to about $403 million; net leverage improved to ~2.5x (at the upper end of target). The company repurchased $35 million of shares in the quarter, remains ahead of pace toward a $300 million program, and has ~$211 million available under the current authorization.
Performance Materials: Exceptional Profitability
Performance Materials sales were $161 million (up 4% year-over-year). Segment EBITDA rose 6% to $86 million and EBITDA margin expanded to 53.6% (mid-50s expected for full year), supported by higher volumes, favorable mix, annual pricing and structural demand for hybrid vehicles.
Pavement Technologies (Core Business) Improvement Excluding Divestiture
After renaming and divestiture impact, Pavement Technologies sales excluding Road Markings increased 3% and EBITDA margin expanded 300 basis points to 24.4%, driven by pricing and volume in the remaining business.
Advanced Polymer Technologies Turnaround
Advanced Polymer Technologies sales increased 14% to $49 million; segment EBITDA increased to $11 million (from $2 million prior year) and margin improved to 22.7%, aided by favorable mix, higher utilization and pricing surcharges.
Raised Full-Year Guidance
Company raised full-year guidance: adjusted EBITDA now $380M–$400M (midpoint ~5% increase vs. prior year) and adjusted EPS now $5.00–$5.45. Free cash flow guidance raised to $220M–$245M (higher low end).
Early Commercial Wins in High-Potential Growth Areas
Secured first municipal PFAS water treatment contract for filtration using advanced carbon technology (chosen for differentiation, drop-in capability and cost advantages). Continued progress in warm-mix asphalt technologies and energy storage initiatives.
Cost Reduction Progress from Portfolio Actions
Post-divestiture stranded costs were ~$20 million; management has eliminated $10 million through Q2 and expects at least $15 million of the stranded costs to be removed, improving long-term profitability.
MX:NGVT Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed