Ingevity Corporation (NYSE:NGVT) Q4 2016 Earnings Conference Call - Final Transcript

Feb 23, 2017 • 10:00 am ET


Ingevity Corporation (NYSE:NGVT) Q4 2016 Earnings Conference Call - Final Transcript


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Welcome to the Ingevity Fourth Quarter Earnings Conference Call. At this time all participants are in a listen only mode. Later we will conduct a question and answer session. [Operator Instructions]. Also as a reminder today's teleconference is being recorded. At this time I will turn the conference over to your host, Director of Investor Relations, Mr. Dan Gallagher. Please go ahead, sir.

Dan Gallagher

Thank you, Tony. Good morning, everyone. Welcome to Ingevity's fourth quarter earnings conference call. Earlier this morning we posted a presentation on the investor section of our website that we will be speaking to on today's call. If you haven't already done so, I would encourage you to download this file in order to follow along on the call. You can find it by visiting under Events and Presentations.

On slide number two of that deck you'll see our disclaimer that today's earnings call may contain forward-looking statements. Relevant factors that could cause actual results to differ materially from these forward-looking statements are contained in our earnings release and our SEC filings, including the Form 10 and our most recent Form 10-Q. Ingevity undertakes no obligation to publicly release any revision to the projections and forward-looking statements made during this call or to update them to reflect the events or circumstances occurring after the date of this call. Please note the company has made certain revisions to previously issued financial statements. A description of these revisions can be found in our news release issued yesterday afternoon.

Throughout this call we may refer to non-GAAP financial measures which are intended to supplement, not substitute for, comparable GAAP measures. Definitions of these non-GAAP financial measures and reconciliations to comparable GAAP financial measures are included in our earnings release and can be found on the investor relations section of our website. For purposes of this earnings call, 2016 non-GAAP financial measures are compared to the equivalent 2015 pro forma non-GAAP measures. Our agenda is on slide three.

With me today are Michael Wilson, President and CEO and John Fortson, Executive Vice President and CFO. As you can see by our agenda on slide three, Michael will provide some commentary on the highlights in the quarter and full year, review performance for our two segments and make some remarks about our outlook going forward. John will discuss our current financial status, our guidance for 2017 and our new share repurchase program. Then Michael will make some brief closing remarks before we open up the lines for Q&A. Joining Michael and John during the Q&A portion of the call will be Mike Smith, President of Performance Chemicals and Ed Woodcock, President of Performance Materials.

With that, I'll turn the call over to our President and CEO, Michael Wilson.

Michael Wilson

Thank you, Dan. Good morning, everyone. Thank you for joining us this morning and for your continued interest in Ingevity.

If you turn to slide number four, you'll note some highlights for the quarter. Ingevity's revenues overall were in line with our expectations and