Company: NGVT
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001653477-25-000108
Chunk: 116

Company: Ingevity Corp
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 8
Chunk 116
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3 15.5 14.1 Restructuring and other (income) charges, net21.9 13.1 34.2 75.9 Goodwill impairment charge183.8 349.1 183.8 349.1 Acquisition-related costs— (0.2)— 0.1 Other (income) expense, net4.3 23.9 8.4 56.1 Interest expense, net18.6 23.2 38.0 45.5 Income (loss) before income taxes(142.7)(334.6)(115.9)(406.5)Provision (benefit) for income taxes3.8 (50.9)10.1 (66.8)Net income (loss)$(146.5)$(283.7)$(126.0)$(339.7)

Q2 2025 Performance Summary

Net sales declined primarily due to reduced performance in the Performance Chemicals segment, specifically within the road technologies and industrial specialties product lines. The decrease in industrial specialties sales was largely driven by strategic repositioning efforts aimed at reducing exposure to lower-margin end-use markets, resulting in an estimated $5 million reduction in quarterly sales. Additionally, unusually wet weather across much of the U.S. delayed road construction projects, negatively impacting the road technologies line. Further contributing factors included weaker customer demand, that accelerated toward the end of the quarter as a result of indirect tariff impacts within the Advanced Polymer Technologies reportable segment.

Net sales

The table below shows the 2025 Net sales and variances from 2024:Change vs. prior yearIn millionsPrior year Net salesVolumePrice/MixCurrency effectCurrent year Net salesThree months ended June 30, 2025 vs. 2024$390.6 (37.6)10.5 1.6 $365.1 Six months ended June 30, 2025 vs. 2024$730.7 (93.0)10.5 0.9 $649.1 

Three Months Ended June 30, 2025 vs 2024

The Net sales decrease of $25.5 million in 2025 was driven by a volume decline of $37.6 million (10 percent). This decline was partially offset by favorable pricing and sales mix of $10.5 million (three percent) and favorable foreign currency exchange of $