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 (ECVT) delivers innovative specialty catalysts and sustainable chemistry solutions through its Ecoservices and Advanced Materials & Catalysts divisions. This page serves as the definitive source for official company announcements, providing stakeholders with timely updates on operational developments and strategic milestones.
Access curated press releases covering earnings reports, partnership agreements, product innovations, and environmental initiatives. Investors will find essential updates on sulfuric acid recycling advancements, catalyst technology breakthroughs, and market expansion efforts that shape Ecovyst's industry leadership.
All content is organized for efficient navigation, featuring verified updates on regulatory filings, manufacturing developments, and sustainability progress. Bookmark this resource to maintain informed perspectives on Ecovyst's contributions to cleaner industrial processes and advanced material science.
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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