Ingevity reports Q1 adjusted EPS $1.35, consensus $1.13

Reports Q1 revenue $392.6M, consensus $411.22M. "The first quarter started slow, especially in January and February, due to the delayed recovery in China which negatively impacted both Performance Materials and Advanced Polymer Technologies segments. We also saw continued destocking in certain product lines, particularly adhesives in Performance Chemicals’ Industrial Specialties business, and pressure on margins from rising crude tall oil costs," said John Fortson, president and CEO. "I’m extremely proud of the team for continuing to execute well on what they can control and deliver solid results in this challenging environment."