Company: NGVT
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001653477-25-000091
Chunk: 11

Company: Ingevity Corp
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 1
Chunk 11
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ITEM 1. FINANCIAL STATEMENTS

INGEVITY CORPORATION

Condensed Consolidated Statements of Operations (Unaudited)

Three Months Ended March 31,In millions, except per share data20252024Net sales$284.0 $340.1 Cost of sales170.6 240.4 Gross profit113.4 99.7 Selling, general, and administrative expenses43.1 47.2 Research and technical expenses7.7 6.8 Restructuring and other (income) charges, net12.3 62.8 Acquisition-related costs— 0.3 Other (income) expense, net4.1 32.2 Interest expense, net19.4 22.3 Income (loss) before income taxes26.8 (71.9)Provision (benefit) for income taxes6.3 (15.9)Net income (loss)$20.5 $(56.0)Per share dataBasic earnings (loss) per share $0.56 $(1.54)Diluted earnings (loss) per share 0.56 (1.54)

The accompanying notes are an integral part of these financial statements.

3

INGEVITY CORPORATION

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited)

Three Months Ended March 31,In millions20252024Net income (loss)$20.5 $(56.0)Other comprehensive income (loss), net of tax:Foreign currency adjustments:Foreign currency translation adjustment 17.2 (9.1)Total foreign currency adjustments, net of tax provision (benefit) of zero for all periods17.2 (9.1)Derivative instruments:Unrealized gain (loss), net of tax provision (benefit) of zero and $(0.1)0.1 (0.3)Reclassifications of deferred derivative instruments (gain) loss, included in net income (loss), net of tax (provision) benefit of $0.1 and $0.20.1 0.5 Total derivative instruments, net of tax provision (benefit) of $0.1 and $0.10.2 0.2 Other comprehensive income (loss), net of tax provision (benefit) of $0.1 and $0.117.4 (8.9)Comprehensive income (loss)$