Ingevity (NGVT) Tops Q2 EPS by 8c, Beats on Revenues; Raises FY17 Sales Outlook

Ingevity (NYSE: NGVT) reported Q2 EPS of $0.78, $0.08 better than the analyst estimate of $0.70. Revenue for the quarter came in at $260.3 million versus the consensus estimate of $259.56 million.

Outlook

Ingevity raised its fiscal year 2017 guidance for sales from between $930 million and $950 million to $940 million and $955 million. The company also raised its guidance for adjusted EBITDA from between $215 million and $225 million to between $220 million and $230 million.

“Six months in, we have much better visibility into our full-year performance,” said Wilson. “The growth in our Performance Materials business and the strong execution of the turnaround in Performance Chemicals support our confidence in reaching our revised year-end targets.”

GUIDANCE:

Ingevity sees Q3 2017 revenue of $940-955 million.

For earnings history and earnings-related data on Ingevity (NGVT) click here.

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