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 ...

Financial Data and Key Metrics Changes - Fourth quarter sales, including the proportionate share from the Zeolyst joint venture, were $226 million, compared to $223 million in Q4 2022, reflecting higher sales volume and favorable pricing [35] - Adjusted EBITDA for Q4 was $70 million, up 1% from the prior year, with a consolidated adjusted EBITDA margin of 31%, consistent with Q4 2022 [36] - Full year 2023 adjusted EBITDA was $260 million, down 6% from $277 million in 2022, driven by lower sales volume and higher unplanned repair costs [37] Business Line Data and Key Metrics Changes - Ecoservices sales for Q4 were $141 million, down from $160 million in Q4 2022, primarily due to lower pricing and the pass-through of lower sulfur costs [50] - Advanced Materials and Catalyst sales for Q4 were $84 million, up 34% year-over-year, with advanced silicas sales increasing by 37% [51] - Adjusted EBITDA for Ecoservices was $48 million in Q4, down from $54 million in the prior year, while Advanced Materials and Catalyst adjusted EBITDA was $27 million, up 34% [39][40] Market Data and Key Metrics Changes - The company expects a modest recovery in virgin sulfuric acid sales in 2024, particularly for nylon intermediates, while industrial demand remains uncertain due to surplus capacity in Asia [20][21] - Polyethylene demand is projected to increase by 2% to 3% in 2024, but excess global capacity may weigh on operating rates [26] - The North American and Middle Eastern markets are expected to benefit from favorable production economics due to lower energy costs [27] Company Strategy and Development Direction - The company is focusing on enhancing operational reliability and expanding capacity in advanced silicas and polyethylene catalysts, supported by customer commitments [15][68] - Investments in emerging technologies, such as advanced recycling and sustainable fuels, are prioritized to drive long-term sales growth [78] - The company aims to reduce its net debt leverage ratio to below 2.5x, with a target cash conversion ratio of approximately 75% [41][60] Management's Comments on Operating Environment and Future Outlook - Management expressed caution regarding near-term demand trends due to economic uncertainties, including inflation and geopolitical tensions, but remains optimistic about long-term growth opportunities [18][65] - The company anticipates stronger demand fundamentals in the second half of 2024, particularly for regeneration services and virgin sulfuric acid sales [19][66] - Management highlighted the importance of maintaining customer relationships and leveraging cost advantages in key markets to support growth [67] Other Important Information - The company achieved platinum status with EcoVadis for sustainability efforts, placing it in the top 1% of its peer group [16] - Full year 2024 sales are expected to be between $860 million and $920 million, reflecting a 5% increase at the midpoint compared to 2023 [54] - Capital expenditures for 2024 are projected to be between $70 million and $80 million, primarily for expanding advanced silicas capacity [60] Q&A Session Summary Question: What is driving the higher pricing through key catalysts? - Management indicated that long-term contracts account for 90% of their customers, allowing for successful price increases, while short-term contracts face pricing pressure [76] Question: Can you quantify the magnitude of pricing pressure in virgin sulfuric acid sales? - Management estimated that pricing pressure in the industrial space could amount to $5 million to $10 million, primarily affecting short-term contracts [77] Question: What are the expectations for polyethylene catalyst demand? - Management expects a mix of core industry growth and account wins, with a recovery anticipated particularly in North America and the Middle East [99]

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 ...

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].

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 ...

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 ...

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 ...

MALVERN, Pa., Feb. 13, 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 Wednesday, February 28, 2024 at 11:00 a.m. Eastern Time to review its fourth quarter 2023 financial results.Investors may listen to the conference call live via telephone by dialing 1 (800) 267-6316 (domestic) or 1 (203) 518-9848 (international) and u ...

Ecovyst Inc. (NYSE:ECVT) Q3 2023 Earnings Conference Call November 2, 2023 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 John McNulty - BMO Capital Markets Aleksey Yefremov - KeyBanc Capital Hamed Khorsand - BWS Financial Daniel Rizzo - Jefferies David Silver - CL King Operator Good morning. My name is Travis and I will be your conference operator today. Welcome to the ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-38221 Ecovyst Inc. Delaware 81-3406833 (State or other jurisdiction of incorporation or organization) 300 ...