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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.
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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.
Ecovyst Inc. (NYSE: ECVT) announced the upsizing of an underwritten public offering from 12,000,000 to 13,000,000 shares at $8.75 each, expected to close on August 8, 2022. All proceeds will benefit the Selling Stockholders, with no shares being sold by the company. Simultaneously, Ecovyst intends to repurchase 6,500,000 shares at the same offering price, funded by cash on hand and operations. This strategic move aims to enhance shareholder value, demonstrating confidence in the company's future.
Ecovyst Inc. (NYSE: ECVT) announced the sale of 12,000,000 shares of common stock by funds affiliated with CCMP Capital Advisors, with an option for underwriters to purchase an additional 1,800,000 shares. The selling stockholders will receive all net proceeds, while Ecovyst plans to repurchase 6,000,000 shares at the offering price using cash on hand. The offering is subject to market conditions and there is no assurance of its completion. This step aims to enhance shareholder value and reflects confidence in the company’s operations.
Ecovyst Inc. (NYSE: ECVT) has appointed Anna C. Catalano to its Board of Directors, bringing over 20 years of experience in business and board service. CEO Kurt J. Bitting expressed confidence in her contributions towards the company's growth strategies. Alongside this positive addition, the company announced the retirements of Greg Brenneman and Martin Craighead from the board, effective July 27, 2022. Their tenure has seen significant transformation within Ecovyst. The company's commitment to providing sustainable specialty catalysts remains a priority.
Ecovyst reported a strong second quarter for 2022, with sales of $225 million, up 53% year-over-year. Net income reached $19 million with diluted earnings per share of $0.14, while adjusted diluted EPS was $0.22. Adjusted EBITDA rose 38% to $73 million, but margins fell to 28% due to increased sulfur costs. The company has revised its 2022 sales guidance to between $830 million and $850 million, citing robust demand and effective pricing strategies. Year-to-date cash from operations is $53 million.
Ecovyst Inc. (NYSE: ECVT) will host a conference call on July 29, 2022, at 11:00 a.m. Eastern Time to discuss its Q2 2022 financial results. Investors can join the call by dialing 1 (800) 343-4849 for domestic or 1 (203) 518-9765 for international access, using participant code ECVTQ222. An audio-only webcast will also be available, with a replay accessible later through the company's investor relations page. Ecovyst is recognized for its contributions to environmental sustainability through specialty catalysts and services.
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