Ingevity: Q1 Earnings Snapshot
By AP News
Published - May 03, 2023, 07:12 PM ET
Last Updated - Jun 21, 2023, 11:09 PM EDT
NORTH CHARLESTON, S.C. (AP) — NORTH CHARLESTON, S.C. (AP) — Ingevity Corporation (NGVT) on Wednesday reported first-quarter profit of $50.7 million.
The North Charleston, South Carolina-based company said it had net income of $1.35 per share. Earnings, adjusted for one-time gains and costs, were $1.09 per share.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.26 per share.
The company posted revenue of $392.6 million in the period, also falling short of Street forecasts. Three analysts surveyed by Zacks expected $410.2 million.
