Welcome to our dedicated page for Ecovyst news (Ticker: ECVT), a resource for investors and traders seeking the latest updates and insights on Ecovyst stock.
Ecovyst Inc. (NYSE: ECVT) is a specialty chemicals company that reports on developments across sulfuric acid services, catalyst technologies and corporate finance. News about Ecovyst often highlights its position as a provider of virgin sulfuric acid, sulfuric acid recycling and regeneration services, chemical waste handling and treatment, and ex-situ catalyst activation services, as well as its historical activities in advanced materials and specialty catalysts.
Investors following ECVT news can expect regular earnings releases covering sales, net income or loss, Adjusted EBITDA and other non-GAAP financial measures. These updates frequently distinguish between continuing operations and discontinued operations, particularly in relation to the Advanced Materials & Catalysts business. Guidance updates for sales, Adjusted EBITDA, Adjusted Free Cash Flow, capital expenditures and leverage metrics are also common topics in the company’s news flow.
Ecovyst’s news includes coverage of strategic actions such as the acquisition of sulfuric acid production assets in Waggaman, Louisiana, and the agreement and subsequent completion of the sale of its Advanced Materials & Catalysts segment to Technip Energies. Releases have described how these transactions relate to Ecovyst’s sulfuric acid network, supply reliability, capacity expansion and balance sheet structure, including targeted net debt leverage ratios.
Other recurring themes in Ecovyst news are amendments to its ABL facility and term loan, stock repurchase activity under its authorized program, and conference call and webcast announcements for quarterly results. For readers tracking ECVT, the news stream provides insight into demand trends for sulfuric acid in refining and mining, developments in catalyst-related businesses through the Zeolyst Joint Venture, and the company’s capital allocation priorities. Bookmarking this page allows for convenient access to Ecovyst’s latest press releases and event notifications as they are reported.
Ecovyst (NYSE: ECVT) reported Q3 2024 results with sales of $179.2 million, up from $173.3 million in Q3 2023. Net income was $14.3 million ($0.12 per share), down from $16.6 million year-over-year. Adjusted EBITDA decreased 12% to $59.8 million with a 28.5% margin. Operating cash flow improved to $106.4 million for the nine months ended September 30, 2024. The company maintained its full-year 2024 guidance with Adjusted EBITDA of $230-245 million and sales of $700-740 million. Ecoservices segment showed resilience with favorable pricing, while Advanced Materials & Catalysts segment saw timing shifts in orders.
Ecovyst Inc. (NYSE: ECVT), a leading provider of advanced materials, specialty catalysts, and services, has announced its upcoming third quarter 2024 earnings conference call and webcast. The event is scheduled for Thursday, October 31, 2024, at 11:00 a.m. Eastern Time.
Investors can participate in the conference call by dialing 1 (800) 267-6316 (domestic) or 1 (203) 518-9783 (international) and using the participant code ECVTQ324. An audio-only live webcast and presentation materials will be available at https://investor.ecovyst.com. A replay of the conference call and webcast will also be accessible on the company's investor relations website.
Ecovyst Inc. (NYSE: ECVT), a provider of advanced materials, specialty catalysts, and services, has announced its participation in CL King's 22nd Annual Best Ideas Conference 2024. Kurt Bitting and Mike Feehan, both Chief Financial Officers of Ecovyst, will present on Monday, September 16, 2024, from 12:30 to 1:05 p.m. Eastern.
The presentation will be broadcast live via webcast, accessible to investors, media, and the public. A link to the webcast will be available on Ecovyst's website under the 'Investors/Events & Presentations' section, or directly at https://wsw.com/webcast/clk24/ecvt/1661440. The webcast will remain archived and available for replay for at least 90 days after the event, providing an opportunity for those unable to attend live to access the information.
Ecovyst Inc. (NYSE: ECVT) reported Q2 2024 results with sales of $182.8 million, down slightly from $184.1 million in Q2 2023. Net income was $8.3 million, compared to $26.1 million in the year-ago quarter. Adjusted EBITDA was $56.9 million, down 28% year-over-year. The company updated its 2024 guidance, lowering full-year Adjusted EBITDA expectations to $230-$245 million from $255-$275 million previously. Ecovyst cited softening demand in sustainable fuel production and emission control end uses, as well as a more cautious outlook for industrial demand for virgin sulfuric acid. The company repurchased 552,081 shares at an average price of $9.05 per share during Q2 2024.
Ecovyst Inc. (ECVT) has announced a $4.5 million equity investment in Pajarito Powder, a company specializing in supports and catalysts for electrolyzers and fuel cells. This strategic move aligns with Ecovyst's goal to expand its Advanced Materials & Catalysts capabilities into emerging markets, particularly the hydrogen economy.
The investment is based on Ecovyst's belief in the growth potential of green hydrogen, with market projections suggesting a 20-fold increase by 2030. Pajarito Powder plans to use the funds to advance its technology, strengthen customer partnerships, and grow its business. The companies also intend to engage in joint development efforts, leveraging their respective strengths in material science and manufacturing.
As part of the deal, Ecovyst will appoint a representative to Pajarito Powder's Board of Directors. The collaboration aims to explore new applications for mesoporous carbon and accelerate growth in supports and catalysts for electrolyzers and fuel cells.
Ecovyst Inc. (NYSE: ECVT), a global provider of advanced materials, specialty catalysts, and services, has announced its upcoming second quarter 2024 earnings conference call and webcast. The event is scheduled for Thursday, August 1, 2024, at 11:00 a.m. Eastern Time. Investors can participate via telephone by dialing 1 (800) 343-5419 (domestic) or 1 (203) 518-9731 (international) using the participant code ECVTQ224. Additionally, an audio-only live webcast and presentation materials will be accessible at https://investor.ecovyst.com. A replay of the conference call and webcast will be made available on the company's investor relations website.
Ecovyst (NYSE: ECVT) released its 2023 Sustainability Report titled 'Advancing the Global Shift Toward Sustainability' on June 25, 2024. The report highlights data on health, safety, environmental sustainability (HSES), greenhouse gas emissions, energy consumption, water usage, and waste management for the year 2023.
CEO Kurt J. Bitting emphasized the company's progress towards sustainability goals through innovative research and development, focusing on reducing greenhouse gas intensity and optimizing energy use with AI and software technology. Ecovyst aims for best-in-class HSES performance and professional development to benefit employees and stakeholders. The report outlines the company's sustainability objectives for 2025 and 2030, reinforcing its commitment to fostering a sustainable economy.
Ecovyst Inc. (NYSE: ECVT) announced the successful amendment and extension of its senior secured term loan facility, now totaling $873 million. The new terms reduce the interest rate margin to SOFR plus 2.25% from the previous SOFR plus 2.75% and extend the loan maturity to June 2031. Additionally, the Credit Spread Adjustment of 10 basis points has been eliminated. Ecovyst expects to save approximately $3 million annually in cash interest due to these favorable changes. This adjustment provides the company with greater financial flexibility to pursue growth opportunities.
Zeolyst International, a joint venture of Ecovyst (NYSE: ECVT), has commissioned a new laboratory scale thermal pyrolysis reactor for advanced recycling of plastic waste. Located at Ecovyst's technical center in Conshohocken, PA, the reactor aims to optimize zeolite-based materials to enhance plastic recycling efficiency. Zeolyst's Opal Infinity™ zeolite products were introduced during Ecovyst's investor day in November 2023, highlighting their commitment to plastic circularity. This initiative involves approximately 45 scientists and technicians, focusing on developing advanced materials and catalysts. This new investment supports the development of sustainable solutions and improves the efficiency of thermal processes in plastic recycling.
Ecovyst Inc. reported first-quarter results for 2024, with sales of $160.5 million and net income of $1.2 million. The company delivered solid results with growth in Ecoservices and Zeolyst Joint Venture. Adjusted EBITDA increased by 6% to $45.5 million. Cash generation was strong, leading to a reduction in net debt leverage ratio to 2.9x. The company provided a positive outlook for 2024, expecting sales of $715-$755 million, Adjusted EBITDA of $255-$275 million, and Free Cash Flow of $85-$105 million.
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