NORTH CHARLESTON, S.C. (AP) — NORTH CHARLESTON, S.C. (AP) — Ingevity Corporation (NGVT) on Wednesday reported a loss of $56 million in its first quarter.
The North Charleston, South Carolina-based company said it had a loss of $1.54 per share. Earnings, adjusted for one-time gains and costs, were 52 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 37 cents per share.
The company posted revenue of $340.1 million in the period.
Ingevity expects full-year revenue in the range of $1.4 billion to $1.55 billion.
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