Ecovyst (US:ECVT)2025-11-04 11:02Financial Performance - Sales from continuing operations for Q3 2025 were $204.9 million, a 33.1% increase from $153.9 million in Q3 2024[7]. - Adjusted EBITDA for Ecoservices in Q3 2025 was $63.6 million, up 15% year-over-year, with an Adjusted EBITDA margin of 31.0%[6]. - Net income from continuing operations was $0.4 million, down from $14.8 million in the year-ago quarter, resulting in a net income margin of 0.2%[7]. - Adjusted EBITDA from continuing operations increased by 18.1% to $57.5 million in Q3 2025, compared to $48.7 million in Q3 2024[34]. - Adjusted Net Income for Q3 2025 was $28.6 million, compared to $22.0 million in Q3 2024, marking a 30% increase[38]. - Adjusted EBITDA from continuing operations for the nine months ended September 30, 2025, was $120.7 million, a decrease of 3.4% from $124.9 million in 2024[35]. - Total sales for the nine months ended September 30, 2025, were $524.1 million, reflecting a 16.6% increase from $449.4 million in 2024[35]. - The Adjusted EBITDA margin from continuing operations for Q3 2025 was 28.1%, down from 31.6% in Q3 2024[34]. - Ecoservices Adjusted EBITDA margin for Q3 2025 was 31.0%, a decrease from 35.8% in Q3 2024[34]. Cash Flow and Debt - Cash flows from operating activities for the nine months ended September 30, 2025, were $77.5 million, compared to $66.0 million for the same period in 2024[9]. - Adjusted Free Cash Flow for 2025 is expected to be between $75 million and $85 million[13]. - Total cash and cash equivalents as of September 30, 2025, were $99.1 million, with total gross debt of $864.3 million[10]. - Net cash provided by operating activities for the nine months ended September 30, 2025, was $98.5 million, down from $106.4 million in 2024[32]. - Free Cash Flow for the nine months ended September 30, 2025, was $31.4 million, down from $54.7 million in 2024, indicating a decrease of 42.5%[41]. - Cash and cash equivalents at the end of the period were $82.0 million, down from $131.4 million at the end of December 31, 2024[29]. - Total gross debt as of September 30, 2025, remained stable at $864 million, with expected net debt projected at $214 million[42]. - Expected Remaining Cash as of September 30, 2025, is $150 million, which includes cash and cash equivalents of $99 million and expected net cash generation of $21 million in Q4 2025[42]. - The Expected Net Debt Leverage Ratio is projected to be 1.3x, consistent with the previous year[42]. Sales and Market Outlook - The revised sales outlook for Ecoservices in 2025 is projected to be between $700 million and $740 million, reflecting higher average sulfur prices[13]. - The company anticipates a continuation of positive demand for virgin sulfuric acid sales, particularly in mining applications, supported by copper mine expansion projects[12]. - Sales for Q3 2025 reached $204.9 million, representing a 33.1% increase from $153.9 million in Q3 2024[34]. Investment Activities - The company repurchased $5.5 million of common stock during Q3 2025, with plans to repurchase up to $20 million in Q4 2025[5]. - The company reported a net cash used in investing activities of $(108.4) million for the nine months ended September 30, 2025, compared to $(56.2) million in 2024[32]. - Cash paid for costs related to the Waggaman acquisition amounted to $4.1 million, while cash paid for costs related to segment disposal was $5.9 million[41]. Assets and Liabilities - Total assets decreased to $1,734.8 million as of September 30, 2025, from $1,802.3 million as of December 31, 2024[29]. - Total liabilities increased to $1,127.0 million as of September 30, 2025, compared to $1,101.8 million at the end of 2024[29]. Taxation - The effective tax rate for the three months ended September 30, 2025, was 98.2%, significantly higher than 23.7% in the same period of 2024[27].