Ingevity(NGVT) ZACKS·2024-10-01 16:06Product Launch and Innovation - Ingevity Corporation will launch Capa HS, a next-generation polycaprolactone polyol designed for enhanced hydrolytic resistance in polyurethanes, at the Polyurethanes Technical Conference in Atlanta [1] - Capa HS extends the life of polyurethane elastomers in tough, wet, and humid conditions, making it suitable for industries like offshore, mining, and petroleum [2] - The Capa HS series demonstrates superior performance in outdoor and maritime conditions, retaining integrity after simulating ten years of water ingress compared to traditional polyesters [3] Company Overview and Market Position - Ingevity is a global leader in caprolactone technology with a 50-year history of innovation, distributing Capa products across various industries to enhance durability, flexibility, and resistance [4] - The company's advanced polymer technologies business focuses on sustainable end-of-life solutions for its products [4] Financial Performance and Guidance - Ingevity's shares have declined 16% over the past year, compared to the industry's 2.5% decline [5] - Q2 2024 sales were impacted by the repositioning of the Performance Chemicals segment, though higher sales in Performance Materials partially offset the decline [5] - The company revised its 2024 sales guidance to 1.5 billion and adjusted EBITDA outlook to 360 million [6] Industry Context and Competitors - The Polyurethanes Technical Conference is North America's longest-running polyurethanes conference, offering industry networking and regulatory insights [5] - Carpenter Technology Corporation, Eldorado Gold Corporation, and Hawkins, Inc are better-ranked stocks in the basic materials space, with Carpenter Technology sporting a Zacks Rank 1 (Strong Buy) and significant share price gains over the past year [8][9][10]