Company: NGVT
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001653477-25-000108
Chunk: 62

Company: Ingevity Corp
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 62
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. The decrease was partially offset by favorable pricing and sales mix of $4.1 million.

Six Months Ended June 30, 2025 vs. 2024

Segment net sales. The decrease of $1.6 million in 2025 was driven by a volume decline of $5.7 million (two percent), partially offset by favorable pricing and sales mix of $4.1 million (one percent).

Segment EBITDA. The decrease of $4.0 million in 2025 was driven by increased SG&A and research and technical expenses of $4.4 million, volume decline of $3.5 million, and LIFO charges of $2.2 million. The decrease was partially offset by favorable pricing and sales mix of $3.4 million, favorable foreign currency exchange and other charges of $1.5 million, and decreased manufacturing costs of $1.2 million.

36

Performance Chemicals

Q2 2025 Performance Summary

Performance Chemicals Net sales decreased $17.6 million (nine percent) compared to the prior year quarter, primarily as a result of our repositioning actions. Approximately $5 million of the decline in net sales reflects the exit of lower-margin end markets in our industrial specialties product line as we continue to focus on maximizing profitability. The remaining Net sales decline was primarily due to wet weather across much of the U.S. that delayed road construction projects, impacting our road technologies product line, and weakness in industrial demand within our industrial specialties product line. Segment EBITDA improved $22.7 million compared to the prior year quarter, reflecting the positive impact of repositioning actions, including benefits from cost savings actions and lower raw material costs, primarily CTO. 

Three Months Ended June 30,Six Months Ended June 30,In millions2025202420252024Total Performance Chemicals - Net sales$167.9 $185.5 $262.9 $332.5 Road Technologies product line119.5 129.1 163.8 174.8 Industrial Specialties product line48.4 56.4 99.1 157.7 Segment EBITDA$32.0 $9.3 $31.7 $(1.3)

Net Sales Comparison of Three and Six Months Ended June 30, 2025 and June 30, 2024:Change vs. prior yearIn millionsPrior year Net salesVolumePrice/MixCurrency effectCurrent year Net salesThree