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Ingevity Reports 1Q 2021 Financial Results

Net sales of $320.3 million were up 11.1%, with net income of $48.7 million up 7.5%.

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By: DAVID SAVASTANO

Editor, Ink World Magazine

Ingevity delivered strong first quarter 2021 results based on demand improvement across its businesses, with net sales of $320.3 million, up 11.1%, and net income of $48.7 million up 7.5%. Adjusted earnings of $51.9 million were up 10% versus the prior year quarter. Adjusted EBITDA of $105.4 million was up 14.3% versus the first quarter 2020. Adjusted EBITDA margin of 32.9% was up 90 basis points from the prior year’s first quarter. Operating cash flow of $51.1 million was down 15.1%, while fr...

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