Ingevity Corporation (NYSE:NGVT). Q2 2023 Earnings Conference Call August 3, 2023 10:00 AM ET

Company Participants

John Nypaver - Vice President, Investor Relations and Treasurer

John Fortson - President and CEO

Mary Hall - Chief Financial Officer

Ed Woodcock - President, Performance Materials

Rich White - President, Performance Chemicals

Conference Call Participants

Vincent Anderson - Stifel

John McNulty - BMO Capital Markets

Jon Tanwanteng - CJS Securities

Ian Zaffino - Oppenheimer

Daniel Rizzo - Jefferies

Mike Sison - Wells Fargo

Operator

Good morning or good afternoon, all. And welcome to the Ingevity Second Quarter 2023 Earnings Call and Webcast. My name is Adam, and I will be your operator for today. [Operator Instructions]

I will now hand the floor over to John Nypaver to begin. So, John, please go ahead when you are ready

John Nypaver

Thank you, Adam. Good morning. And welcome to Ingevity’s second quarter 2023 earnings call. Earlier this morning, we posted a presentation on our Investor site that you can use to follow today’s discussion. It can be found on ir.Ingevity.com under Events and Presentations.

Also throughout this call, we may refer to non-GAAP financial measures, which are intended to supplement not substitute for comparable GAAP measures. Definitions of these non-GAAP financial measures and reconciliations to comparable GAAP measures are included in our earnings release and are also in our Form 10-K.

We may also make forward-looking statements regarding future events and future financial performance of the company during this call and we caution you that these statements are just projections and actual results or events may differ materially from those projections as further described in our earnings release.

Our agenda is on slide three. Our speakers today are John Fortson, our President and CEO; and Mary Hall, our CFO. Our business leads Ed Woodcock, President of Performance Materials; and Rich White, President of Performance Chemicals are available for questions and comments. Steve Hulme, President of Advanced Polymer Technologies is away on business travel. So John will field any APT questions.

John will start us off with some highlights for the quarter. Mary will follow with a review of our consolidated financial performance and the business segment results for the second quarter. John will then provide an update on guidance, followed by closing comments.

With that, over to you, John.

John Fortson

Thanks, John, and hello, everyone. On slide four you can see our highlights for Q2. The team delivered double-digit revenue growth, while maintaining mid-20s EBITDA margins, a great outcome in this environment. Three of our four business lines performed well. Performance Materials had double-digit growth from last year and we saw sequential growth as well.