Page 1

News ● ● ingevity ● ● Ingevity reports second quarter 2021 financial results and increases full year 2021 guidance HIGHLIGHTS : ( comparisons versus prior year period ) Ingevity delivers strong second quarter results driven by higher volumes and supported by price increases across both segments Exhibit 99.1 Ingevity Corporation 4920 O'Hear Avenue Suite 400 North Charleston , SC 29405 USA www.ingevity.com Contact : Caroline Monahan 843-740-2068 media@ingevity.com Investors : Bill Hamilton 843-746-2138 investors@ingevity.com Net sales of $ 358.4 million up 32.4 % Net income of $ 44.3 million rose 119.3 % ; net income margin of 12.4 % , up 490 basis points Adjusted EBITDA of $ 117.7 million rose 75.1 % ; adjusted EBITDA margin of 32.8 % , up 800 basis points Operating cash flow of $ 65.8 million drove free cash flow up 23.6 % to $ 41.9 million Company increases full year 2021 guidance to sales between $ 1.320 billion and $ 1.360 billion and adjusted EBITDA between $ 425 million and $ 440 million The results and guidance in this release include non - GAAP financial measures . Refer to the section entitled " Use of non - GAAP financial measures " within this release . NORTH CHARLESTON , S.C. , July 28 , 2021 – Ingevity Corporation ( NYSE : NGVT ) today reported its second quarter 2021 financial results . Second quarter net sales of $ 358.4 million rose 32.4 % versus the prior year second quarter . Net income of $ 44.3 million increased 119.3 % and net income margin of 12.4 % rose from 7.5 % in the prior year . Second quarter diluted earnings per share ( EPS ) were $ 1.10 compared to $ 0.49 in the prior year period . Operating cash flow of $ 65.8 million drove free cash flow that was up 23.6 % to $ 41.9 million . Adjusted earnings of $ 62.3 million rose 138.7 % versus the prior year quarter . Diluted adjusted EPS were $ 1.55 , which exclude , net of tax , $ 0.09 related to restructuring , acquisition and other charges , net , and $ 0.36 related to certain discrete tax items recognized during the quarter . This compares to diluted adjusted EPS of $ 0.63 in the prior year quarter . Adjusted EBITDA of $ 117.7 million rose 75.1 % versus the second quarter 2020. Adjusted EBITDA margin of 32.8 % rose 800 basis points from the prior year's second quarter . " Our strong second quarter financial results were driven by higher volumes and were supported by price increases across both segments , " said John Fortson , president and CEO . " In Performance Materials , automotive - based activated carbon sales were up sharply compared to the second quarter of 2020 that was affected by industry shutdowns in North America and Europe , even though this quarter's results were tempered by the ongoing negative impact of the global microchip shortage . In Performance Chemicals , we saw significant growth across all businesses . " Our second quarter adjusted EBITDA and adjusted EBITDA margin both rebounded strongly from second quarter last year , " continued Fortson , “ and our healthy free cash flow allowed us to reduce our net debt ratio while repurchasing $ 29 million of shares in the quarter . "