Ingevity Corporation reported fourth quarter 2024 net sales of $298.8 million, a 20% decrease year-over-year, primarily due to the strategic repositioning of the Performance Chemicals segment. Despite this, adjusted EBITDA for the quarter increased by 91% to $80.6 million, reflecting the benefits of repositioning actions and driving a $20.4 million improvement in Performance Chemicals segment EBITDA.
For the full year 2024, net sales were $1.4 billion, down 17%, but adjusted EBITDA was $362.7 million, a 4% decrease, with an adjusted EBITDA margin of 25.8%, an increase of 350 basis points. The company reported a full-year net loss of $430.3 million, which included a $349.1 million goodwill impairment and $338.9 million in special charges related to repositioning actions, such as plant closures and a $100.0 million CTO supply agreement termination fee.
Ingevity announced its full-year 2025 guidance, projecting sales between $1.3 billion and $1.4 billion, adjusted EBITDA between $400 million and $415 million, and free cash flow between $220 million and $260 million. The company also aims to reduce its net leverage ratio to below 2.8 times by the fourth quarter of 2025, demonstrating confidence in its strategic actions and improved profitability.
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