Recap: Ingevity Q4 Earnings
Portfolio Pulse from Benzinga Insights
Ingevity (NYSE:NGVT) reported Q4 earnings with an EPS of $0.21, significantly beating the estimated -$0.19, marking a 210.53% beat. However, revenue declined by $11.90 million compared to the same period last year. Despite a miss in the previous quarter's EPS estimate, the share price increased by 7.75% the following day. The report provides a detailed comparison of past quarters' estimated and actual EPS and revenues.
February 21, 2024 | 9:25 pm
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Ingevity reported a significant beat on Q4 earnings with an EPS of $0.21 against an estimated -$0.19, but saw a decrease in revenue compared to last year.
The substantial beat on the EPS estimate is likely to positively impact investor sentiment and potentially lead to a short-term increase in NGVT's stock price, similar to the previous quarter's performance post-earnings announcement. However, the decline in revenue could temper some of the positive momentum.
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