Ingevity Corp (NGVT) Q4 2019 Earnings Call Transcript

Ingevity Corp (NGVT) Q4 2019 Earnings Call Transcript

Michael will comment on the highlights of the quarter and full year and review the performance of our two segments.. As expected, we finished the year with strong performance in the fourth quarter.. Overall, revenues in the fourth quarter were $303 million, up approximately 9% when compared to the previous year's quarter.. Adjusted EBITDA were $91 million, up $18 million from the previous year's quarter.. For the fourth consecutive quarter we achieved adjusted EBITDA margin of 30% or more, up 370 basis points versus the prior year.. For the full year, sales were up 14%, including the addition of the engineered polymers business.. Adjusted EBITDA were $397 million, up 24%, above the midpoint of our most recent guidance and within the less than 1% of the midpoint of the guidance we gave at the beginning of the year.. On a pro forma basis, which assumes we had owned the engineered polymer business for the full year in 2018 and 2019, sales were down 0.8% and adjusted EBITDA were up 4%.. If you'll turn to slide number 5, you'll see the fourth quarter results for Performance Chemicals.. Sales in the Performance Chemicals segment were negatively impacted by weak market conditions, especially