Ecovyst Inc Stock Price, News & Analysis

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.

Ecovyst Inc. (NYSE: ECVT) announced that Gene Shiels, Director of Investor Relations, will present at the Bank of America 2022 Leveraged Finance Conference on Tuesday, November 29, 2022, at 10:10 a.m. EST. The presentation will be available via a simultaneous webcast, accessible to the media, investors, and the public through the company's website. The archived webcast will remain available for 90 days post-event. Ecovyst specializes in innovative specialty catalysts and services aimed at enhancing environmental sustainability.

Ecovyst Inc. (NYSE: ECVT) announced the pricing of an upsized public offering of 17.5 million shares at $8.25 each, set to close on November 17, 2022. The proceeds will go to selling stockholders, with the company planning to repurchase 8 million shares from underwriters simultaneously. The share repurchase will be financed through cash on hand and operational cash flow. Goldman Sachs & Co., Deutsche Bank Securities, and Credit Suisse lead the offering. This transaction may enhance shareholder value through stock buyback.

Ecovyst Inc. (NYSE: ECVT) announced the sale of 16 million shares by funds associated with CCMP Capital Advisors. The Selling Stockholders have granted a 30-day option for underwriters to buy an additional 2.4 million shares. The company plans to repurchase 8 million shares from the underwriters at the offering price, funded by cash on hand and operations. This transaction is expected to close simultaneously with the offering, subject to market conditions. The total offering is part of a shelf registration statement filed with the SEC.

Ecovyst reported third-quarter 2022 results with sales of $233 million, a 39% increase from the same quarter in 2021. Net income rose to $21 million, yielding diluted earnings per share of $0.16. Adjusted EBITDA reached $75 million, up 9% year-over-year. The company affirmed its guidance, lowering sales expectations to $810 million to $830 million due to anticipated lower sulfur costs. Year-to-date cash from operations was $109 million, with reduced net leverage at 2.8x. Share buybacks totaled 7,577,640 shares in Q3 at an average price of $8.56.

Ecovyst Inc. (NYSE: ECVT) will conduct a conference call on November 1, 2022, at 11:00 a.m. ET to discuss its Q3 2022 financial results. Investors can listen via phone or access a live audio-only webcast at investor.ecovyst.com. The company operates two main segments: Ecoservices, focusing on sulfuric acid recycling, and Catalyst Technologies, providing silica catalysts and zeolites for emissions control. Ecovyst aims to enhance environmental sustainability through its innovative products.