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) 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.
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.
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