The adjusted EPS beat and reaffirmed guidance support a positive near-term bias, but the GAAP loss and BASF cash outflow temper enthusiasm. Watch for margin recovery in Performance Chemicals after Road Markings divestiture and further leverage reduction progress.
Price Chart
Executive Summary
Ingevity reported Q1 2026 adjusted EPS of $1.15, beating consensus of $0.84 by 37%, with net sales up 4% to $258.0M. GAAP EPS fell to $0.65 from $0.79 due to $22.7M in pre-tax special charges including litigation costs. The company reaffirmed full-year guidance adjusted for the Road Markings divestiture, signaling confidence in ongoing operations.
Key Financial Metrics
Key Facts
- Q1 2026 net sales $258.0M, +4% YoY
- GAAP diluted EPS $0.65 vs $0.79 YoY
- Adjusted diluted EPS $1.15 vs $1.01 YoY, beat consensus $0.84
- Adjusted EBITDA $91.5M, flat YoY, margin 35.5% vs 36.8%
- Completed sale of Industrial Specialties and Road Markings product lines for ~$158M total
- Reaffirmed FY2026 guidance: net sales $1.05-$1.15B, adjusted EBITDA $370-$395M, adjusted EPS $4.70-$5.20
- Share repurchases of $52M in Q1; net leverage 2.6x
- Paid $113.2M pre-tax litigation settlement to BASF in Q1
Financial Impact
Adjusted EPS beat by $0.31 (37%) vs consensus; GAAP EPS miss due to one-time charges
Risk Factors
- Integration risks from divestitures and ongoing restructuring
- BASF litigation cash outflow pressures free cash flow
- Macroeconomic headwinds and tariff uncertainty impacting demand
- Competitive pricing pressure in Road Markings and Advanced Polymer Technologies
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001653477-26-000031 |
| Document: ngvt-20260506.htm | 0001653477-26-000031 |
| Document: 0001653477-26-000031-index-headers.html | 0001653477-26-000031 |
| Document: 0001653477-26-000031-index.html | 0001653477-26-000031 |
| Document: 0001653477-26-000031.txt | 0001653477-26-000031 |
| 8-K Data (Synthetic) | 0001653477-26-000031 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
May 6, 2026 24w ago | 8-K | $74.07 $66.97 | ▼ −9.59% | ▼ −12.72% | $71.03 (−4.10%) |
May 4, 2026 25w ago | 8-K | $77.10 $67.17 | ▼ −12.88% | ▼ −17.83% | $71.03 (−7.87%) |
Apr 15, 2026 27w ago | 8-K | $73.74 $71.26 | ▼ −3.36% | ▼ −9.18% | $71.03 (−3.68%) |
Mar 17, 2026 31w ago | DEFA14A | $65.69 $73.74 | ▲ +12.25% | ▲ +6.21% | $71.03 (+8.13%) |
Feb 25, 2026 34w ago | 8-K | $70.52 $71.35 | ▲ +1.18% | ▲ +7.58% | $71.03 (+0.72%) |
US Market Status
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