Company: NGVT
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001653477-25-000108
Chunk: 157

Company: Ingevity Corp
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 2
Chunk 157
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 June 30, 2024:Change vs. prior yearIn millionsPrior year Net salesVolumePrice/MixCurrency effectCurrent year Net salesThree months ended June 30, 2025 vs. 2024$47.9 (4.7)(0.9)1.0 $43.3 Six months ended June 30, 2025 vs. 2024$95.9 (8.7)(2.0)0.3 $85.5 

Three Months Ended June 30, 2025 vs. 2024

Segment net sales. The decrease of $4.6 million in 2025 was driven by a volume decline of $4.7 million (10 percent), and unfavorable pricing and sales mix of $0.9 million (two percent). The decrease was partially offset by favorable foreign currency exchange of $1.0 million (two percent).

Segment EBITDA. The decrease of $8.9 million in 2025 was driven by increased manufacturing costs of $5.0 million, a volume decline of $1.8 million, increased SG&A of $1.0 million, unfavorable pricing and sales mix of $0.9 million, and increased foreign currency exchange and other charges of $0.2 million.

Six Months Ended June 30, 2025 vs. 2024

Segment net sales. The decrease of $10.4 million in 2025 was driven by a volume decline of $8.7 million (nine percent), and unfavorable pricing and sales mix of $2.0 million (two percent). The decrease was partially offset by favorable foreign currency exchange of $0.3 million (zero percent).

Segment EBITDA. The decrease of $5.9 million in 2025 was driven by a volume decline of $3.3 million, unfavorable pricing and sales mix of $2.0 million, increased SG&A of $1.2 million, and increased foreign currency exchange and other charges of $0.5 million. The decrease was partially offset by decreased manufacturing costs of $1.1 million. 

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Use of Non-GAAP Financial Measure - Adjusted EBITDA

Ingevity has presented the financial measure, Adjusted EBITDA, defined below, which has not been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and has provided a reconciliation to net income, the most directly comparable financial measure calculated in accordance with GAAP. Adjust