Ingevity Q2 Adj EPS $1.41 Beats $1.37 Estimate, Sales $481.80M Miss $486.43M Estimate
Portfolio Pulse from Benzinga Newsdesk
Ingevity (NYSE:NGVT) reported Q2 adjusted earnings of $1.41 per share, beating the analyst consensus estimate of $1.37 by 2.92%. However, this is an 18.5% decrease from the same period last year. The company's quarterly sales were $481.80 million, missing the analyst consensus estimate of $486.43 million by 0.95%, but marking a 14.74% increase from the same period last year.
August 04, 2023 | 12:14 pm
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Ingevity's Q2 earnings beat estimates but are down 18.5% YoY. Sales missed estimates but are up 14.74% YoY.
Ingevity's earnings beat estimates, which is positive for the stock. However, the YoY decrease in earnings and the missed sales estimates could negatively impact the stock. The YoY increase in sales is a positive factor. Overall, the impact on the stock is neutral.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100