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) will hold a conference call and audio-only webcast on May 4, 2023 at 11:00 a.m. Eastern Time to discuss its first quarter 2023 financial results. Investors can join by calling 1 (800) 267-6316 domestically or 1 (203) 518-9848 internationally, using the participant code ECVTQ123. The live webcast will be available at Ecovyst Investor Relations, with a replay accessible shortly after the event. Ecovyst is recognized for its specialty catalysts and services, aiming to enhance sustainability through its operations. The company operates two main businesses: Ecoservices, focusing on sulfuric acid recycling, and Catalyst Technologies, which provides essential catalysts for various industrial applications.
Ecovyst Inc. (NYSE: ECVT) announced the sale of 11,490,444 shares of its common stock by funds affiliated with CCMP Capital Advisors. This sale will occur under a shelf registration statement with the SEC. The Selling Stockholders will receive all proceeds from the offering, while the Company plans to repurchase 3,000,000 shares at the same price per share as the offering, using cash on hand and operational cash flow. The completion of the buyback is contingent on the offering's closure, which depends on market conditions. Jefferies is the underwriter for this offering.
Ecovyst reported strong financial results for the fourth quarter and full year 2022, with sales of $820.2 million, up 34.2% year-over-year. The company achieved a net income of $69.8 million and an Adjusted EBITDA of $276.8 million, reflecting a 21.6% increase. The fourth quarter sales reached $182.8 million, up 7.4%, with a net income margin of 11.8%. The company repurchased 16.5 million shares totaling $136.7 million. Ecovyst maintained a net debt leverage ratio of 2.8x as of year-end 2022. Looking ahead, the company expects sales between $760 million to $790 million for 2023.
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