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.
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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.
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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.
Ecovyst Inc. (NYSE: ECVT) will host a conference call on February 28, 2023, at 11:00 a.m. ET to discuss its fourth quarter 2022 financial results. Investors can participate by calling 1 (800) 579-2543 domestically or 1 (203) 518-9708 internationally, using the code ECVTQ422. An audio-only webcast will also be available on the company's investor website. Ecovyst specializes in providing specialty catalysts and services, with a focus on sustainability through products and services in the refining and industrial sectors.