Ingevity Corporation NGVT logged profits of $48.7 million or $1.20 per share in first-quarter 2021, up around 8% from $45.3 million or $1.08 per share a year ago.Adjusted earnings per share for the reported quarter were $1.27, surpassing the Zacks Consensus Estimate of $1.07.The company’s revenues rose around 11% year over year to $320.3 million in the quarter. The top line also beat the Zacks Consensus Estimate of $293 million. The company benefited, in the first quarter, from higher demand across its businesses. It saw a strong rise in automotive-based activated carbon sales and a significant growth in engineered polymers across several applications.Adjusted EBITDA went up around 14% year over year to $105.4 million in the quarter. Ingevity Corporation Price, Consensus and EPS Surprise Ingevity Corporation price-consensus-eps-surprise-chart | Ingevity Corporation Quote Segment ReviewRevenues from the Performance Chemicals division rose around 8% year over year to $179.6 million in the quarter under review. The company witnessed strong sales growth in engineered polymers and modest rise in industrial specialties and pavement technologies sales.Revenues from the Performance Materials unit climbed 16% year over year to $140.7 million. Strong global automotive sales drove growth for the company’s activated carbon products used in gasoline vapor emission control systems.Balance SheetIngevity ended the quarter with cash and cash equivalents of $237.8 million, down roughly 21% year over year. Long-term debt was $1,263.1 million, down around 14% year over year.OutlookThe company raised its outlook for sales for 2021 to $1.275-$1.325 billion from $1.25-$1.30 billion expected earlier. It also now anticipates adjusted EBITDA of $410-$430 million, up from the prior view of $400-$420 million.Price PerformanceShares of Ingevity have gained 68.8% in the past year against the industry’s growth of 32.4%. Zacks Rank & Key PicksIngevity currently carries a Zacks Rank #2 (Buy).Other top-ranked stocks worth considering in the basic materials space include Nucor Corporation NUE, Dow Inc. DOW and Impala Platinum Holdings Limited IMPUY.Nucor has a projected earnings growth rate of 228.4% for the current year. The company’s shares have rallied around 92% in a year. It currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Dow has a projected earnings growth rate of 261.5% for the current year. The company’s shares have shot up around 69% in a year. It currently sports a Zacks Rank #1.Impala Platinum has an expected earnings growth rate of 197.6% for the current fiscal. The company’s shares have surged around 225% in the past year. It currently carries a Zacks Rank #1.These Stocks Are Poised to Soar Past the PandemicThe COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.See the 5 high-tech stocks now>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Nucor Corporation (NUE): Free Stock Analysis Report Dow Inc. (DOW): Free Stock Analysis Report Impala Platinum Holdings Ltd. (IMPUY): Free Stock Analysis Report Ingevity Corporation (NGVT): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research