Ingevity (NGVT) stock is soaring 6.12% in Tuesday's pre-market trading session following the release of its impressive first-quarter earnings report. The specialty chemicals company significantly outperformed analyst expectations on the bottom line, despite a slight miss on revenue.

Late Monday, Ingevity reported adjusted earnings of $0.99 per diluted share for Q1 2025, more than doubling from $0.47 in the same period last year. This figure handily beat the consensus estimate of $0.74 per share from four analysts polled by FactSet. The substantial earnings beat appears to be the primary driver behind the stock's surge.

However, it wasn't all positive news. Ingevity's Q1 revenue came in at $284 million, down from $340.1 million a year earlier and slightly below the $285.5 million expected by analysts. Despite this, investors seem to be focusing on the company's profitability improvements. Additionally, Ingevity adjusted its full-year 2025 sales guidance, widening the bottom end of its range to $1.25 billion - $1.40 billion, compared to the previous range of $1.30 billion - $1.40 billion set in February. This adjustment suggests the company is taking a more cautious stance on its lower-end revenue expectations for the year.