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) 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.
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.
FAQ
What is the current stock price of Ecovyst (ECVT)?
What is the market cap of Ecovyst (ECVT)?
What are the main business segments of Ecovyst Inc.?
What recent achievements has Ecovyst Inc. made?
What role does Ecovyst play in sustainability?
How does Ecovyst support ecological health?
What strategic investments is Ecovyst currently making?
How does Ecovyst's Ecoservices segment contribute to the refining industry?
What are the key products offered by Ecovyst's Advanced Materials & Catalysts segment?
What financial outlook has Ecovyst provided for the coming year?
How does Ecovyst plan to manage its capital allocation in the future?
What are some of Ecovyst's key sustainability initiatives?
