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 dynamic catalyst and services company with a robust history spanning over 200 years under the umbrella of PQ Corporation. Ecovyst operates through two core business segments: Ecoservices and Advanced Materials & Catalysts, both committed to fostering ecological health and driving customer growth.
Ecoservices specializes in sulfuric acid recycling for North American refineries, crucial for producing high-value alkylate used in gasoline. They also supply on-purpose virgin sulfuric acid for various industrial applications, including mining, water treatment, and agriculture. Their regeneration services support stringent gasoline standards and high-octane premium fuel production, ensuring higher fuel efficiency and cleaner emissions.
Advanced Materials & Catalysts focuses on providing proprietary and customized catalysts that improve fuel efficiency and reduce emissions. This segment includes their joint venture, Zeolyst, which innovates in the production of zeolites used in renewable fuels, refining, and emissions control systems. Their silica catalysts are essential in producing high-strength plastics and other sustainable materials.
Recent achievements include the launch of Zeolyst's branded product portfolio, highlighting their innovative approach to sustainable catalysis and adsorption for a greener future. Financially, Ecovyst reported a stable outlook despite macroeconomic challenges, reflecting strong demand fundamentals and strategic investments aimed at enhancing production capabilities and environmental performance.
Looking ahead, Ecovyst plans to further its commitment to sustainability with initiatives like the installation of an advanced emission control system at their Orange, Texas site, aimed at meeting regulatory standards and expanding production capacity to meet growing demand for cleaner fuels.
With a strong commitment to innovation, strategic partnerships, and sustainable practices, Ecovyst Inc. continues to play a pivotal role in advancing clean energy solutions and ecological health.
Ecovyst Inc. (NYSE: ECVT), a specialty catalysts and services provider, has announced its participation in the Bank of America 2024 Leveraged Finance Conference. Nate Connor, Vice President of Finance & Treasurer, will deliver a presentation on Tuesday, December 3, 2024, at 3:30 p.m. Eastern.
The presentation will be accessible through a live webcast available to investors, media, and the public. Interested parties can access the webcast through Ecovyst's website under the Investors section or directly via the Bank of America conference link. The webcast recording will remain available for replay for at least 90 days following the event.
Ecovyst (NYSE: ECVT) has launched AlphaCat® advanced silica products for biocatalysis applications, following investments in research and testing capabilities at their Conshohocken, PA R&D site. The company will offer both functionalized silica supports for enzyme immobilization and ready-made biocatalysts with pre-immobilized enzymes. The initiative includes a new testing kit for customers to evaluate different silica functionalities, with manufacturing and quality processes established at their Kansas City, Kansas facility. This product launch targets emerging applications in food, fuels, and chemical production, focusing on enzyme-based processes.
Ecovyst (NYSE: ECVT) reported Q3 2024 results with sales of $179.2 million, up from $173.3 million in Q3 2023. Net income was $14.3 million ($0.12 per share), down from $16.6 million year-over-year. Adjusted EBITDA decreased 12% to $59.8 million with a 28.5% margin. Operating cash flow improved to $106.4 million for the nine months ended September 30, 2024. The company maintained its full-year 2024 guidance with Adjusted EBITDA of $230-245 million and sales of $700-740 million. Ecoservices segment showed resilience with favorable pricing, while Advanced Materials & Catalysts segment saw timing shifts in orders.
Ecovyst Inc. (NYSE: ECVT), a leading provider of advanced materials, specialty catalysts, and services, has announced its upcoming third quarter 2024 earnings conference call and webcast. The event is scheduled for Thursday, October 31, 2024, at 11:00 a.m. Eastern Time.
Investors can participate in the conference call by dialing 1 (800) 267-6316 (domestic) or 1 (203) 518-9783 (international) and using the participant code ECVTQ324. An audio-only live webcast and presentation materials will be available at https://investor.ecovyst.com. A replay of the conference call and webcast will also be accessible on the company's investor relations website.
Ecovyst Inc. (NYSE: ECVT), a provider of advanced materials, specialty catalysts, and services, has announced its participation in CL King's 22nd Annual Best Ideas Conference 2024. Kurt Bitting and Mike Feehan, both Chief Financial Officers of Ecovyst, will present on Monday, September 16, 2024, from 12:30 to 1:05 p.m. Eastern.
The presentation will be broadcast live via webcast, accessible to investors, media, and the public. A link to the webcast will be available on Ecovyst's website under the 'Investors/Events & Presentations' section, or directly at https://wsw.com/webcast/clk24/ecvt/1661440. The webcast will remain archived and available for replay for at least 90 days after the event, providing an opportunity for those unable to attend live to access the information.
Ecovyst Inc. (NYSE: ECVT) reported Q2 2024 results with sales of $182.8 million, down slightly from $184.1 million in Q2 2023. Net income was $8.3 million, compared to $26.1 million in the year-ago quarter. Adjusted EBITDA was $56.9 million, down 28% year-over-year. The company updated its 2024 guidance, lowering full-year Adjusted EBITDA expectations to $230-$245 million from $255-$275 million previously. Ecovyst cited softening demand in sustainable fuel production and emission control end uses, as well as a more cautious outlook for industrial demand for virgin sulfuric acid. The company repurchased 552,081 shares at an average price of $9.05 per share during Q2 2024.
Ecovyst Inc. (ECVT) has announced a $4.5 million equity investment in Pajarito Powder, a company specializing in supports and catalysts for electrolyzers and fuel cells. This strategic move aligns with Ecovyst's goal to expand its Advanced Materials & Catalysts capabilities into emerging markets, particularly the hydrogen economy.
The investment is based on Ecovyst's belief in the growth potential of green hydrogen, with market projections suggesting a 20-fold increase by 2030. Pajarito Powder plans to use the funds to advance its technology, strengthen customer partnerships, and grow its business. The companies also intend to engage in joint development efforts, leveraging their respective strengths in material science and manufacturing.
As part of the deal, Ecovyst will appoint a representative to Pajarito Powder's Board of Directors. The collaboration aims to explore new applications for mesoporous carbon and accelerate growth in supports and catalysts for electrolyzers and fuel cells.
Ecovyst Inc. (NYSE: ECVT), a global provider of advanced materials, specialty catalysts, and services, has announced its upcoming second quarter 2024 earnings conference call and webcast. The event is scheduled for Thursday, August 1, 2024, at 11:00 a.m. Eastern Time. Investors can participate via telephone by dialing 1 (800) 343-5419 (domestic) or 1 (203) 518-9731 (international) using the participant code ECVTQ224. Additionally, an audio-only live webcast and presentation materials will be accessible at https://investor.ecovyst.com. A replay of the conference call and webcast will be made available on the company's investor relations website.
Ecovyst (NYSE: ECVT) released its 2023 Sustainability Report titled 'Advancing the Global Shift Toward Sustainability' on June 25, 2024. The report highlights data on health, safety, environmental sustainability (HSES), greenhouse gas emissions, energy consumption, water usage, and waste management for the year 2023.
CEO Kurt J. Bitting emphasized the company's progress towards sustainability goals through innovative research and development, focusing on reducing greenhouse gas intensity and optimizing energy use with AI and software technology. Ecovyst aims for best-in-class HSES performance and professional development to benefit employees and stakeholders. The report outlines the company's sustainability objectives for 2025 and 2030, reinforcing its commitment to fostering a sustainable economy.
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.
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