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Ecovyst (ECVT) - 2024 Q1 - Quarterly Results
2024-05-02 10:10
Exhibit 99.1 Ecovyst Reports First Quarter 2024 Results MALVERN, PA, May 2, 2024 -- Ecovyst Inc. (NYSE: ECVT) ("Ecovyst" or the "Company"), a leading integrated and innovative global provider of advanced materials, specialty catalysts and services, today reported results for the first quarter ended March 31, 2024. First Quarter 2024 Results & Highlights "Ecovyst delivered solid results and year-over-year growth for the first quarter of 2024, reflecting positive demand fundamentals across the majority of our ...
Ecovyst (ECVT) Earnings Expected to Grow: Should You Buy?
Zacks Investment Research· 2024-04-25 15:07
The market expects Ecovyst (ECVT) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended March 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on May 2, 2024, might help the stock move higher if these key numbers are better t ...
Ecovyst to Host First Quarter 2024 Earnings Conference Call and Webcast on Thursday, May 2, 2024 at 11:00 a.m. ET
Prnewswire· 2024-04-15 20:00
MALVERN, Pa., April 15, 2024 /PRNewswire/ -- Ecovyst Inc. (NYSE: ECVT), a leading integrated and innovative global provider of advanced materials, specialty catalysts and services, announced today that it will conduct a conference call and audio-only webcast on Thursday, May 2, 2024 at 11:00 a.m. Eastern Time to review its first quarter 2024 financial results. Investors may listen to the conference call live via telephone by dialing 1 (800) 343-5419 (domestic) or 1 (203) 518-9731 (international) and use the ...
Ecovyst Announces Winners of its 2023 Sustainability Leadership Awards
Prnewswire· 2024-04-02 22:00
MALVERN, Pa., April 2, 2024 /PRNewswire/ -- Ecovyst Inc. (NYSE: ECVT) ("Ecovyst" or the "Company"), a leading integrated and innovative global provider of advanced materials, specialty catalysts and services, today announced that it has recognized three outstanding teams with the Company's 2023 Sustainability Leadership Awards. The award winners, which were selected by Chief Executive Officer Kurt J. Bitting and members of the executive management team, are the Ecoservices Hammond, Indiana site for the most ...
Ecovyst (ECVT) - 2023 Q4 - Earnings Call Transcript
2024-02-28 20:37
Ecovyst Inc. (NYSE:ECVT) Q4 2023 Earnings Conference Call February 28, 2024 11:00 AM ET Company Participants Gene Shiels - Director of Investor Relations Kurt Bitting - Chief Executive Officer Michael Feehan - Chief Financial Officer Conference Call Participants Eric Zhang - Citi Aleksey Yefremov - KeyBanc Capital David Begleiter - Deutsche Bank Hamed Khorsand - BWS Financial David Silver - CL King Operator Good morning. My name is Bove [ph] and I will be your conference operator today. Welcome to Ecovyst F ...
Ecovyst (ECVT) - 2023 Q4 - Earnings Call Presentation
2024-02-28 17:06
Fourth Quarter 2023 February 28, 2024 —11 a.m. ET YOUR CATALYST FOR POSITIVE CHANGE™ Legal Discussion Continuing Operations Financial results are presented on a continuing operations basis, which excludes the Performance Materials business and Performance Chemicals business unless otherwise indicated. Forward-Looking Statements Some of the information contained in this presentation, the conference call during which this presentation is reviewed and any discussions that follow constitutes "forward-looking st ...
Ecovyst (ECVT) - 2023 Q4 - Annual Report
2024-02-28 16:00
Financial Performance - Total sales for the year ended December 31, 2023, were $691.1 million, with $156.5 million attributable to the Zeolyst Joint Venture, representing 50% of its total sales[33]. - The Ecoservices segment generated $584.8 million in sales, accounting for 70.9% of total adjusted EBITDA of $259.9 million[52]. - The Advanced Materials & Catalysts segment reported sales of $106.3 million, contributing 29.1% to total adjusted EBITDA[52]. - The Regeneration and Treatment Services category within Ecoservices accounted for 52.0% of total sales, with $354.6 million reported[33]. - Approximately 20% of the sulfuric acid volume for the year ended December 31, 2023, was under contracts expiring at the end of 2024 or beyond, indicating potential revenue risks from contract renewals[140]. - For the year ended December 31, 2023, the top ten customers represented approximately 60% of the company's sales, with one single customer accounting for 13% or $91.5 million of sales in both Ecoservices and Advanced Materials & Catalysts[138]. - The company generated 6% of its sales in currencies other than U.S. dollars, exposing it to currency transaction risks, particularly with the Euro and British pound[124]. Market Position and Competitive Advantage - The company has a strong competitive advantage with a leading supply position for products generating over 90% of its sales in 2023[37]. - The company is positioned to benefit from increased global demand for polyethylene production and capacity expansions due to regulatory and consumer trends[37]. - The company faces substantial competition in the petrochemicals and refining industries, competing with major players like Grace, BASF, and UOP[135]. - The company relies on a limited number of customers, which increases the risk of significant adverse effects on profitability if any major customer is lost[138]. Sustainability and Corporate Responsibility - The company was awarded a 2024 Platinum Sustainability Score from EcoVadis, placing it in the top 1% (99th percentile) of all assessed companies[84]. - The company has established a corporate-wide sustainability software platform for real-time sustainability performance analytics[92]. - The company published its 2022 Sustainability Report in July 2023, which included third-party assured sustainability metrics from 2018 to 2022[90]. - The company actively engages in community support initiatives, including food drives and donations to local schools and organizations[100]. Research and Development - The company operates two R&D facilities aimed at developing new products and processes, ensuring alignment with customer needs and manufacturing capabilities[78]. - As of December 31, 2023, the company owned 21 patented inventions in the U.S. and had 175 patents issued worldwide, along with 61 pending patent applications[81]. - The company has developed zeolite-based catalysts that help reduce pollutants from diesel engines, aiding customers in meeting stringent emission standards[40]. Operational Risks and Challenges - The company faces risks related to product liability claims and recalls, which could result in unexpected expenditures and impact customer confidence[143][144]. - The company is subject to extensive environmental regulations, and non-compliance could result in significant fines or penalties[149][151]. - Current and proposed regulations addressing climate change may lead to increased operating and capital expenses, impacting business operations[156]. - Disruptions in production and distribution due to various hazards could expose the company to significant losses or liabilities[159][161]. - The company has faced operational disruptions, such as those caused by Winter Storm Elliot, affecting facilities in Houston and Hammond[162]. Financial Health and Debt - The company has substantial indebtedness totaling approximately $877.5 million as of December 31, 2023, which may adversely affect its financial condition and operational flexibility[193]. - As of December 31, 2023, the assets available to fund pension obligations were approximately $61.6 million, which is about $4.9 million less than the measured pension benefit obligation on a GAAP basis[191]. - The company may not be able to obtain adequate insurance coverage in the future, which could lead to increased premiums and financial risks[163]. Employee and Labor Relations - As of December 31, 2023, the company had 911 employees worldwide, with approximately 44% represented by a union or employee representative body[214]. - 137 of the U.S. unionized employees are covered under collective bargaining agreements expiring on or before December 30, 2024, which may lead to labor disputes if agreements are not reached[214]. - Approximately 24% of U.S.-based executives, managers, and professionals were female, and 21% were non-white males as of December 31, 2023[98]. Compliance and Regulatory Risks - The company is subject to examination by local tax authorities, and adverse outcomes could increase effective tax rates, negatively impacting operating results and cash flows[190]. - Compliance with regulations related to conflict minerals may increase costs and affect the sourcing and pricing of materials used in products[219]. - Effective internal control over financial reporting is required, and any material weaknesses identified could negatively affect investor confidence and the market price of common stock[216][217].
Ecovyst Announces Changes to Board of Directors
Prnewswire· 2024-02-28 01:37
MALVERN, Pa., Feb. 27, 2024 /PRNewswire/ -- Ecovyst Inc. (NYSE: ECVT) ("Ecovyst" or the "Company"), a leading integrated and innovative global provider of advanced materials, specialty catalysts and services, today announced that its Board of Directors (the "Board") has appointed Sarah Lorance as a director effective March 1, 2024, expanding the size of Ecovyst's Board from eight to nine members. In addition, the Board has nominated Don Althoff for election at the 2024 annual meeting of stockholders, which ...
Ecovyst Achieves EcoVadis Platinum Level Sustainability Rating
Prnewswire· 2024-02-28 00:00
MALVERN, Pa., Feb. 27, 2024 /PRNewswire/ -- Ecovyst Inc. (NYSE: ECVT) ("Ecovyst" or the "Company"), a leading integrated and innovative global provider of advanced materials, specialty catalysts and services, today announced that it has achieved a Platinum sustainability rating from EcoVadis. The Platinum rating score places Ecovyst in the top one percent of companies EcoVadis rated in its peer group, and it recognizes the Company's incremental progress in incorporating the principles of sustainability and ...
Ecovyst (ECVT) - 2023 Q4 - Annual Results
2024-02-27 16:00
Exhibit 99.1 Ecovyst Reports Fourth Quarter and Full Year 2023 Results MALVERN, PA, February 28, 2024 -- Ecovyst Inc. (NYSE:ECVT) ("Ecovyst" or the "Company"), a leading integrated and innovative global provider of advanced materials, specialty catalysts and services, today reported results for the fourth quarter and full year ended December 31, 2023. Full Year 2023 Results & Highlights Fourth Quarter 2023 Results & Highlights Ecovyst results reflect continuing operations for the Ecoservices and Advanced Ma ...