Company: NGVT
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001653477-25-000127
Chunk: 56

Company: Ingevity Corp
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 56
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 million in Research and technical expenses, respectively. All cash savings have been realized as of September 30, 2025.

These cash savings have been derived from headcount reductions, plant operating efficiencies, and reduced supply chain costs. Collectively, these savings have been realized in the following financial statement captions: approximately 70-80 percent in Cost of sales, approximately 15-25 percent in Selling, general, and administrative expenses, and approximately 5 percent in Research and technical expenses, all presented on our condensed consolidated statements of operations. 

In addition to the cash savings, we have realized savings of approximately $12 million in lower full year depreciation and intangible amortization expenses, respectively. All savings have been realized as of September 30, 2025.

The charges we currently expect to incur in connection with these actions are subject to a number of assumptions and risks, and actual results may differ materially. We may also incur other material charges not currently contemplated due to events that may occur as a result of, or in connection with, these actions. 

36

Results of Operations

Three Months Ended September 30,Nine Months Ended September 30,In millions2025202420252024Net sales$333.1 $333.8 $912.5 $936.8 Cost of sales199.2 202.2 538.8 571.9 Gross profit133.9 131.6 373.7 364.9 Selling, general, and administrative expenses44.1 37.9 129.6 119.5 Research and technical expenses7.0 6.2 21.0 18.0 Restructuring and other (income) charges, net1.0 3.3 10.1 8.3 Goodwill impairment charge— — 183.8 306.6 Acquisition-related costs— (0.1)— — Other (income) expense, net1.2 6.5 9.5 7.8 Interest expense, net18.4 23.8 56.4 69.3 Income (loss) from continuing operations before income taxes62.2 54.0 (36.7)(164.6)Provision (benefit) for income taxes on continuing operations21.4 6.5 34.8 (23.6)Net income (loss) from continuing operations40.8