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 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.
Ecovyst Inc. (NYSE: ECVT) announced that CEO Kurt Bitting will present at the Deutsche Bank 13th Annual Global Materials Conference on June 9 at 2:15 p.m. Eastern. The presentation will be live-streamed and accessible to media, investors, and the public via Ecovyst’s website. The archived webcast will be available for playback for 90 days post-event. Ecovyst is a leading provider of specialty catalysts focusing on sustainability, with businesses in sulfuric acid recycling and catalyst technologies. For more details, visit www.ecovyst.com.
Ecovyst (NYSE: ECVT) has appointed Gene Shiels as its new Director of Investor Relations, effective immediately. With over 18 years of experience, Shiels previously served as the Director of Investor Relations at Kraton Corporation until its sale in March 2022. He has held various roles at Baker Hughes, enhancing his expertise. Shiels will report to CFO Mike Feehan, aiming to strengthen investor relations and support the company’s innovative catalyst and services offerings globally, focusing on sustainability.
Ecovyst Inc. (NYSE:ECVT) appointed Kurt J. Bitting as CEO and Kevin M. Fogarty as Chairman of the Board while announcing a $450 million stock repurchase program. The company reported Q1 2022 sales of $180 million, a 42% increase year-over-year, with net income of $8 million. Adjusted EBITDA rose 40% to $59 million, reflecting strong demand and pricing power, despite cost pressures from inflation. Ecovyst reiterated its 2022 guidance, projecting sales of $810-$830 million. The addition of independent directors aims to enhance strategic leadership for sustainable growth.
Ecovyst Inc. (NYSE: ECVT) announced a live conference call on April 28, 2022, at 5:00 p.m. Eastern Time to discuss its first-quarter financial results. Investors can join via phone at 1 (800) 909-7113 (domestic) or 1 (785) 830-1914 (international) using the code ECVTQ122. An audio-only webcast is also available at investor.ecovyst.com, with a replay option following the event. Ecovyst focuses on specialty catalysts and services that support global sustainability efforts.
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?
