Ingevity Corporation reported first quarter 2025 net sales of $284.0 million, a 17% decline compared to the same period in 2024. This decrease was primarily due to lower sales in the Industrial Specialties product line, a result of the strategic repositioning of the Performance Chemicals segment, and reduced sales in the Advanced Polymer Technologies segment.
Despite the sales decline, adjusted EBITDA increased by 23% to $91.3 million, achieving an adjusted EBITDA margin of 32.1%. This improvement was largely driven by the Performance Chemicals segment, which benefited from reduced raw material costs and an improved product mix due to successful repositioning actions.
The company revised its full-year 2025 guidance, maintaining sales between $1.25 billion and $1.40 billion, but widening the range for adjusted EBITDA to between $380 million and $415 million. This adjustment reflects lowered expectations for global auto production due to international trade relations, despite strong Q1 performance and improved net leverage to 3.3 times.
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