I've now written up Ecovyst ( ECVT ) a number of times since the middle of 2024 and have been bullish-to-date. I wanted to take a break and skip a quarter, but then Q4 earnings resultedAnalyst’s Disclosure: I/we have a beneficial long position in the shares of ECVT either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company ...

Financial Data and Key Metrics Changes - For Q4 2024, adjusted EBITDA was $76 million, an increase of 8.7% compared to Q4 2023, driven by higher sales volume and favorable contract pricing in Eco Services [5][23][24] - Full-year adjusted EBITDA for 2024 was $238 million, down from $260 million in 2023, primarily due to lower sales volume in the Zeolus joint venture [24][30] - The net debt leverage ratio at year-end was three times, down from 3.2 times at the end of Q3 2024 [6][29] Business Line Data and Key Metrics Changes - Eco Services segment sales were $150 million, up 5% year-over-year, with adjusted EBITDA of $54 million, reflecting a nearly 12% increase [26] - Advanced Silicas sales increased by 5% to $33 million, driven by higher sales of advanced silicas used in polyethylene production [27] - Sales from the Zeolus joint venture were lower due to the timing of hydrocracking catalyst sales, with a non-cash impairment charge of $65 million recognized [21][22] Market Data and Key Metrics Changes - The demand for virgin sulfuric acid in the mining sector showed robust growth, while uncertainty in the nylon precursor market was noted due to global industrial demand fluctuations [10][11] - The U.S. and Middle East markets benefited from cost-advantage feedstocks, leading to higher capacity utilization rates [14] Company Strategy and Development Direction - The company is focused on capacity increases to support core and industrial businesses, with expansions underway for polyethylene catalyst capacity [7][14] - A strategic review of the Advanced Materials and Catalyst business is ongoing, expected to be completed by mid-2025 [42][70] - The company aims to capture growth through enhanced reliability, debottlenecking, and organic expansions across its core and industrial businesses [41] Management's Comments on Operating Environment and Future Outlook - Management maintains a cautious outlook for near-term demand due to global macroeconomic uncertainties but remains positive about long-term demand trends [8][9] - The company expects Eco Services to see growth driven by favorable contract pricing and higher volume, projecting sales to be up on a low double-digit percentage basis [32] - For 2025, total sales are projected to be between $870 million and $945 million, including the proportionate share of the Zeolus joint venture [31] Other Important Information - The company reported a full-year adjusted free cash flow of over $85 million, up $13 million compared to 2023 [27] - Capital expenditures for 2025 are anticipated to be in the range of $80 to $90 million, primarily for growth-driven projects [35][114] Q&A Session Summary Question: Can you help us frame what this means from a volume decline perspective across each business? - The turnaround costs incurred are a few million dollars, with additional costs from customer turnarounds impacting financials [47][48] Question: Is there anything to call out in terms of the timing of price cost on the virgin sulfuric side? - The timing of fixed cost absorption and virgin sulfuric acid pricing is a factor, but the primary impact is from lower volumes due to turnaround activities [48][49] Question: Can you discuss the strategic review of the Advanced Materials and Catalyst business? - The board is exploring ways to maximize shareholder value and assess if there are alternative setups that could enhance value [72][73] Question: What would need to happen for Ecovyst not to grow EBITDA in 2025? - The timing of large hydrocracking orders and potential economic disruptions are key factors that could impact growth [75][76] Question: Can you clarify the timing issues specific to the Zeolus joint venture? - The timing of orders for hydrocracking catalysts can vary significantly, leading to fluctuations in sales [81][82] Question: Are you still expecting sales from emerging technologies this year? - The company is on track for sales from biocatalysis and advanced recycling technologies, with expectations for sales to commence in late 2025 [86][87] Question: What percentage of sales or EBITDA is tied to heavy-duty and sustainable jet fuel categories? - Sustainable fuels account for around 10% of overall Advanced Materials and Catalyst sales [92] Question: Can you provide more color on your CapEx budget? - The CapEx budget includes growth-driven projects primarily for expansions in Kansas City and Chem 32, with some costs rolling over from 2024 [114][115]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION 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. (State or other jurisdiction of incorporation or organization) 300 Lindenwood Drive Malvern, Pennsylvania 19355 (Address of principal executive offices) (Zip Code) Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT O ...

Core Insights - Ecovyst (ECVT) reported quarterly earnings of $0.28 per share, exceeding the Zacks Consensus Estimate of $0.25 per share, and showing an increase from $0.22 per share a year ago, representing a 12% earnings surprise [1] - The company posted revenues of $182 million for the quarter ended December 2024, which was 5.37% below the Zacks Consensus Estimate and an increase from $172.8 million year-over-year [2] - Ecovyst has surpassed consensus EPS estimates only once in the last four quarters and has consistently missed revenue estimates during the same period [2] Earnings Outlook - The immediate price movement of Ecovyst's stock will largely depend on management's commentary during the earnings call and future earnings expectations [3][4] - The current consensus EPS estimate for the upcoming quarter is $0.09 on revenues of $171.25 million, and for the current fiscal year, it is $0.90 on revenues of $745.41 million [7] Industry Context - The Chemical - Specialty industry, to which Ecovyst belongs, is currently ranked in the bottom 23% of over 250 Zacks industries, indicating potential challenges for stock performance [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact investor sentiment and stock performance [5][6]

Financial Performance - Full year 2024 sales reached $704.5 million, a 1.9% increase from $691.1 million in 2023[4] - The company reported a net loss of $6.7 million for the full year 2024, with a net loss margin of 1.0% and diluted net loss per share of $0.06[4] - Sales for Q4 2024 were $182.0 million, a 5.3% increase from $172.8 million in Q4 2023[25] - Ecoservices segment sales for the fourth quarter were $148.9 million, a 5% increase from $141.4 million in the same quarter of 2023[6] - Advanced Silicas sales in the fourth quarter were $33.1 million, an increase of $1.7 million compared to the prior year[8] - Ecoservices segment sales increased by 5.3% to $598.3 million in 2024, while Advanced Materials & Catalysts sales remained relatively flat[37] - The company experienced a significant decline in Zeolyst Joint Venture sales, which fell by 25.6% to $116.5 million in 2024[37] Adjusted EBITDA and Cash Flow - Adjusted EBITDA for the fourth quarter was $75.9 million, up 8.7% compared to the fourth quarter of 2023, with an Adjusted EBITDA margin of 35.3%[4] - Adjusted EBITDA for 2024 was $238.2 million, down 8.3% from $259.9 million in 2023[37] - The company expects 2025 sales to range from $755 million to $815 million, with Adjusted EBITDA projected between $238 million and $258 million[13] - Full year 2024 net cash from operations was $149.9 million, compared to $137.6 million in 2023[10] - Adjusted Free Cash Flow for 2024 was $85.5 million, up from $72.3 million in 2023[38] Net Loss and Income - The net loss for the year 2024 was $6.7 million, a significant decline from a net income of $71.2 million in 2023[29] - For the three months ended December 31, 2024, the net loss was $30.5 million compared to a net income of $30.0 million for the same period in 2023[30] - Adjusted Net Income for 2024 was $86.1 million, a decrease from $117.2 million in 2023, reflecting a 26.6% decline[34] - The adjusted net income for Q4 2024 was $38.3 million, compared to $30.5 million in Q4 2023, representing a year-over-year increase of 25.7%[33] Assets and Liabilities - Cash and cash equivalents increased to $146.0 million in 2024 from $88.4 million in 2023[27] - Total assets decreased to $1,802.3 million in 2024 from $1,837.8 million in 2023[27] - Total liabilities decreased to $1,101.8 million in 2024 from $1,132.3 million in 2023[27] - The total debt as of December 31, 2024, was $870.8 million, slightly down from $877.5 million in 2023[40] - The Net Debt Leverage Ratio remained stable at 3.0x for both 2024 and 2023[40] Impairments and Expenses - The company reported an impairment of investment in affiliated companies amounting to $65.0 million in 2024[29] - The company recognized an impairment charge of $65.0 million on its investment in affiliated companies during the year ended December 31, 2024[33] - Interest expense decreased by 15.1% to $11.8 million in Q4 2024 from $13.9 million in Q4 2023[25] - Interest expense for Q4 2024 was $11.8 million, down from $13.9 million in Q4 2023, reflecting a decrease of approximately 15.1%[30] - The company reported depreciation and amortization expenses of $22.6 million for Q4 2024, slightly up from $22.1 million in Q4 2023[30] - Equity-based compensation expenses were $3.5 million for Q4 2024, compared to $3.4 million in Q4 2023, indicating a marginal increase[33] Strategic Initiatives - A strategic review of the Advanced Materials & Catalysts segment is underway, expected to be completed by mid-2025[12] - The company plans to continue focusing on its Advanced Materials & Catalysts segment, which includes its 50% share of the Zeolyst Joint Venture[32]

MALVERN, Pa., Feb. 27, 2025 /PRNewswire/ -- 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, 2024.Full Year 2024 Results & Highlights Sales of $704.5 million, compared to $691.1 million in 2023 Net loss of $6.7 million. Net loss margin of 1.0%, with diluted net loss per share of $0.06 Adjusted net income of $68.6 mi ...

Company Overview - Ecovyst Inc. is a leading integrated and innovative global provider of advanced materials, specialty catalysts, sulfuric acid, and regeneration services [3] - The company supports customers globally through a strategically located network of manufacturing facilities [3] Business Segments - The company operates two specialty businesses: Advanced Materials & Catalysts and Ecoservices [4] - Advanced Materials & Catalysts provides finished silica catalysts, catalyst supports, and functionalized silicas for high-performing plastics and sustainable chemistry [4] - The Zeolyst joint venture supplies specialty zeolites used in catalysts for sustainable fuel production and emission reduction [4] - Ecoservices offers sulfuric acid recycling for the North American refining industry and provides high-quality virgin sulfuric acid for industrial and mining applications [4] Upcoming Events - Ecovyst Inc. will conduct a conference call and audio-only webcast on February 27, 2025, at 11:00 a.m. Eastern Time to review its fourth quarter 2024 financial results [1] - Investors can access the live conference call via telephone or through an audio-only live webcast [2]

Ecovyst (NYSE: ECVT ) reported what I thought was a fine quarter in Q3 with some end-market results largely stabilizing, which is good to see and mostly confirms the temporal weakness from earlier this year. ButAnalyst’s Disclosure: I/we have a beneficial long position in the shares of ECVT either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business rel ...

MALVERN, Pa., Dec. 2, 2024 /PRNewswire/ -- Ecovyst Inc. (NYSE: ECVT), a leading integrated and innovative global provider of advanced materials, specialty catalysts, sulfuric acid and regeneration services, today announced that its Board of Directors has initiated a strategic review process for its Advanced Materials & Catalysts business ("AM&C"). This announcement is an extension of the Board's ongoing evaluation and review of the business, aimed at maximizing shareholder value.AM&C is comprised of two bus ...

MALVERN, Pa., Nov. 20, 2024 /PRNewswire/ -- Ecovyst Inc. (NYSE: ECVT) ("Ecovyst"), a leading integrated and innovative provider of specialty catalysts and services today announced that Nate Connor, Vice President of Finance & Treasurer, will present at the Bank of America Leveraged Finance Conference at 3:30 p.m. Eastern on Tuesday, December 3, 2024.The presentation will be broadcast simultaneously via webcast and will be available to members of the news media, investors and the general public. A link to th ...