Company: NGVT
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001653477-25-000091
Chunk: 103

Company: Ingevity Corp
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 8
Chunk 103
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 net sales decline was primarily due to a slower start to the road paving season, and weakness in industrial demand within our industrial specialties product line. Segment EBITDA improved $10.3 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. 

Three Months Ended March 31,In millions20252024Total Performance Chemicals - Net sales$95.0 $147.0 Road Technologies product line44.3 45.7 Industrial Specialties product line50.7 101.3 Segment EBITDA$(0.3)$(10.6)

Net Sales Comparison of Three Months Ended March 31, 2025 and March 31, 2024:Change vs. prior yearIn millionsPrior year Net salesVolumePrice/MixCurrency effectCurrent year Net SalesThree months ended March 31, 2025 vs. 2024$147.0 (52.2)0.2 — $95.0 Road Technologies product line45.7 (2.3)0.9 — 44.3 Industrial Specialties product line101.3 (49.9)(0.7)— 50.7 

Three Months Ended March 31, 2025 vs. 2024

Segment net sales. The decrease of $52.0 million in 2025 was driven by a volume decline of $52.2 million (35 percent), as a result of a decrease in industrial specialties ($49.9 million) and road technologies ($2.3 million). This was partially offset by favorable pricing and sales mix of $0.2 million (zero percent), attributable to an increase in road technologies ($0.9 million), partially offset by a decrease in industrial specialties ($0.7 million).

Segment EBITDA. The increase of $10.3 million in 2025 was driven by lower manufacturing costs of $6.5 million, primarily due to lower cost CTO, LIFO liquidation benefit of $6.5 million, lower SG&A of $1.9 million, which benefited from the Performance Chemicals repositioning, decreased foreign currency exchange and other charges of $1.9 million, and favorable pricing and sales mix of $0.2 million. The increase was partially offset by a volume decline of $6.7 million. 

35

Advanced Polymer Technologies

Q1 2025 Performance Summary

Advanced