Compared to Estimates, Ingevity (NGVT) Q3 Earnings: A Look at Key Metrics
Ingevity (NGVT) reported $446 million in revenue for the quarter ended September 2023, representing a year-over-year decline of 7.5%. EPS of $1.21 for the same period compares to $2.09 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $466.36 million, representing a surprise of -4.37%. The company delivered an EPS surprise of -0.82%, with the consensus EPS estimate being $1.22.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Ingevity performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net Sales- Performance Chemicals: $256 million compared to the $263.68 million average estimate based on three analysts. The reported number represents a change of -24.1% year over year.
Net Sales- Performance Materials: $147.20 million versus $141.94 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +1.6% change.
Net Sales- Advanced Polymer Technologies: $42.80 million versus $60.76 million estimated by three analysts on average.
Net Sales- Performance Chemicals- Industrial Specialties product line: $126.30 million compared to the $135.77 million average estimate based on three analysts. The reported number represents a change of -29.6% year over year.
Net Sales- Performance Chemicals- Pavement Technologies product line: $129.70 million versus $127.90 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +46.9% change.
Performance Materials- Segment EBITDA (Non-GAAP): $74.50 million versus the three-analyst average estimate of $62.14 million.
Advanced Polymer Technologies- Segment EBITDA (Non-GAAP): $11.20 million compared to the $11.64 million average estimate based on three analysts.
Performance Chemicals- Segment EBITDA (Non-GAAP): $24.70 million versus $39.75 million estimated by three analysts on average.
View all Key Company Metrics for Ingevity here>>>
Shares of Ingevity have returned -6.6% over the past month versus the Zacks S&P 500 composite's -2.2% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Ingevity Corporation (NGVT) : Free Stock Analysis Report
