North Charleston, South Carolina – Ingevity, a speciality polyols company generated $328.8m in sales in the first quarter of 2022 up 2.65% on the same period last year. EBITDA across the business rose 19.5% and reached $382.8m.
Strong first quarter at Ingevity
We continue to see strong end-market demand across the company which allowed us to increase prices,' said John Fortson, CEO.
In the company's Performance Chemicals business, sales rose by 30.3% between the first quarter of 2021 and the first quarter of 2022, reaching $234m, compared with $179.6m in the equivalent period in 2021.
At the same time, EBITDA in the division rose 29.7%. It reached $41.1m in the first quarter of 2022. This compares with $32m in the equivalent period in 2021.
'Sales across our Performance Chemicals segment rose significantly compared to the prior year quarter,' said Fortson. 'Our teams implemented price increases in all of our business areas which allowed us to offset energy, logistics and raw materials inflation in the quarter.'