Ingevity Corporation reported second quarter 2025 net sales of $365.1 million, a 7% decline compared to the same period in 2024, primarily due to lower sales in the Performance Chemicals segment. The company recorded a net loss of $146.5 million, or $4.02 diluted loss per share, which included a pre-tax non-cash goodwill impairment charge of $183.8 million for the Advanced Polymer Technologies segment.
This goodwill impairment was a result of reevaluating assumptions regarding industrial demand recovery due to heightened global trade uncertainty and tariff announcements during the quarter. Despite this, adjusted earnings increased by 39% to $51.1 million, with adjusted diluted EPS rising 38% to $1.39, driven by the successful repositioning of the Performance Chemicals segment.
Adjusted EBITDA for the quarter was $110.0 million, an increase of 9%, achieving a 30.1% margin, primarily due to reduced raw material costs and improved product mix in Performance Chemicals. Ingevity raised the low-end of its full-year 2025 adjusted EBITDA guidance to a range of $390 million to $415 million, while maintaining sales guidance between $1.25 billion and $1.40 billion, reflecting solid first-half results and improved North American auto production forecasts.
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