Ecovyst promotes Kurt Bitting to CEO, Q1 sales up 42%, starts share buyback

Ecovyst Inc.

Kurt Bitting promoted to CEO; Kevin Fogarty appointed Chairman; two new independent directors added.
Q1 sales $180M (+42% YoY); net income $8M (diluted EPS $0.06); adj. net income $20M (adj. EPS $0.15).
Adjusted EBITDA $59M (+40% YoY); margin 28% (+120 bps) despite sulfur cost pass-through.
Entered interest rate caps on $250M at 1.00% in January.
Affirmed 2022 financial outlook; announced multi-year share repurchase program.

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