Ingevity Corporation (NYSE: NGVT) today reported third quarter net sales of $252.0 million and a net loss of $4.8 million, reflecting the impact of a $32.2 million non-cash restructuring charge associated with the closure of the company's Palmeira, Brazil, crude tall oil (CTO) refinery. Ingevity's third quarter net loss as a percentage of sales was 1.9 percent compared to prior year's net income as a percentage of sales of 9.6 percent. Sales were down 1.8 percent versus the prior year's third quarter. The third quarter diluted loss per share was $0.17. Excluding restructuring and other costs of $0.77 per share and separation costs of $0.04 per share, diluted adjusted earnings per share were $0.64. Diluted pro forma adjusted earnings per share were $0.62 in the previous year's quarter. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of $59.6 million were up 5.3 percent versus third quarter 2015 pro forma adjusted EBITDA of $56.6 million. Ingevity's third quarter adjusted EBITDA margin of 23.7 percent was up 160 basis points from the prior year's third quarter pro forma adjusted EBITDA margin of 22.1 percent. "Ingevity delivered higher adjusted earnings and adjusted EBITDA margins in the third quarter despite slightly lower sales," said Michael Wilson, Ingevity's president and CEO. "The diversity of our businesses, in combination with effective execution in our cost-reduction programs, enabled us to post a strong quarter in line with our expectations." Wilson said the company's Performance Materials segment continued its outstanding performance. "We are continuing to benefit from ongoing adoption of more stringent automotive gasoline vapor emission regulations, particularly in North America. In combination with the trend toward larger vehicles - which positively affected our product mix - our business is growing far in excess of vehicle demand. These revenue impacts, along with strong operational performance, spurred excellent earnings growth."