Company: NGVT
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001653477-25-000127
Chunk: 159

Company: Ingevity Corp
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 2
Chunk 159
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 and technical expenses, other (income) expense, net, excluding depreciation and amortization). We have excluded the following items from segment EBITDA: interest expense associated with corporate debt facilities, interest income, income taxes, depreciation, amortization, restructuring and other income (charges), net, goodwill impairment charges, acquisition and other-related income (costs), gain (loss) on strategic investments, proxy contest charges, portfolio review expenses, pension and postretirement settlement and curtailment income (charges), net, and indirect costs allocated to Divestiture.

In general, the accounting policies of the segments are the same as those described in the Summary of Significant Accounting Policies in the Annual Consolidated Financial Statements included in our 2024 Annual Report.

Performance Materials

Q3 2025 Performance Summary

Performance Materials Net sales increased three percent compared to the prior year quarter reflecting improved global automobile production. Segment EBITDA for Performance Materials decreased $0.7 million or one percent, and Segment EBITDA margin declined to 51.5 percent. The margin was lower due to higher variable compensation and foreign currency exchange, which offset the benefits from increased volumes and price.

In millionsThree Months Ended September 30,Nine Months Ended September 30,2025202420252024Total Performance Materials - Net sales$155.0 $151.1 $455.7 $453.4 Segment EBITDA$79.9 $80.6 $236.1 $240.8 

Net Sales Comparison of Three and Nine Months Ended September 30, 2025 and September 30, 2024:Change vs. prior yearIn millionsPrior year Net salesVolumePrice/MixCurrency effectCurrent year Net salesThree months ended September 30, 2025 vs. 2024$151.1 4.6 (0.7)— $155.0 Nine months ended September 30, 2025 vs. 2024$453.4 (1.1)3.4 — $455.7 

Three Months Ended September 30, 2025 vs. 2024

Segment net sales. The increase of $3.9 million in 2025 was driven by volume growth of $4.6 million (three percent), partially offset by unfavorable pricing and sales mix of $0.7 million (zero percent).

Segment EBITDA. The decrease of $0.7 million in 2025 was driven by increased