Ecovyst Reports Fourth Quarter and Full Year 2024 Results

Core Insights - Ecovyst Inc. reported solid financial results for Q4 2024, with a sales increase of 5% year-over-year, reaching $182.0 million, despite a net loss of $30.5 million [3][10] - The company achieved an Adjusted EBITDA of $75.9 million for Q4 2024, reflecting an 8.7% increase compared to the same quarter in 2023, with an Adjusted EBITDA margin of 35.3% [3][10] - For the full year 2024, Ecovyst's sales totaled $704.5 million, a 1.9% increase from 2023, while the net loss for the year was $6.7 million [10][28] Full Year 2024 Results & Highlights - Sales for the full year 2024 were $704.5 million, compared to $691.1 million in 2023, driven by higher sales volume [10][5] - Adjusted EBITDA for the year was $238.2 million, with an Adjusted EBITDA margin of 29.0% [10][20] - The company reported a net loss of $6.7 million for the year, with a diluted net loss per share of $0.06 [10][25] Fourth Quarter 2024 Results & Highlights - In Q4 2024, the company experienced a net loss of $30.5 million, with a diluted net loss per share of $0.26 [3][10] - Adjusted net income for Q4 was $33.0 million, with an Adjusted diluted income per share of $0.28 [10][29] - The fourth quarter Adjusted EBITDA was $75.9 million, up 8.7% from Q4 2023, with a margin of 35.3% [3][10] Segment Results and Business Trends - Ecoservices segment sales in Q4 2024 were $148.9 million, up from $141.4 million in Q4 2023, driven by higher sales volume and favorable pricing [4][10] - Advanced Materials & Catalysts segment saw Q4 sales of $33.1 million, an increase from the previous year, primarily due to higher sales of advanced silicas [6][10] - The Zeolyst Joint Venture reported a decline in sales to $33.1 million in Q4 2024, down from $52.8 million in the prior year, due to timing issues with catalyst sales [6][10] Cash Flows and Balance Sheet - Cash flows from operating activities for the year were $149.9 million, an increase from $137.6 million in 2023 [8][10] - As of December 31, 2024, the company had cash and cash equivalents of $146.0 million and total gross debt of $870.8 million [8][26] - The net debt leverage ratio at year-end was 3.0x, reflecting the net loss for the year [8][10] 2025 Financial Outlook - The company anticipates positive demand for its regeneration services and virgin sulfuric acid sales in 2025, despite a cautious near-term outlook for global macroeconomic activity [9][10] - Ecovyst expects to capitalize on growth opportunities in advanced plastics recycling, bio-catalysis, and carbon capture [9][10] - The company plans to complete the expansion of its polyethylene catalyst production capacity by the end of 2025 [2][10]