Ecovyst Q2 sales $184.1M (-18% YoY); net income +36% to $26.1M, adj EPS $0.29; guidance lowered

Ecovyst Inc.

2023-Q2 EPS reported $0.20 revenue$344,984,000

Sales of $184.1M, down 18% YoY from $225.2M, primarily due to ~$32M lower pass-through of sulfur costs.
Net income $26.1M ($0.22 diluted EPS) up 36%; adjusted net income $34.6M ($0.29 adjusted diluted EPS) up 32%.
Adjusted EBITDA $79.3M (+9% YoY) with margin of 34.7%; driven by pricing, mix, and renewable fuels/emission control sales.
Repurchased 4M shares at avg $10.88 for $43.5M; formalized strategic cooperation with Valoregen for plastic recycling tech.
Fiscal 2023 guidance updated to reflect softer demand in select end uses and an unforeseen outage/production restriction at one site.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Ecovyst Inc. reported second quarter ended June 30, 2023 results: revenue $184.1 million, net income $26.1 million, EPS $0.22. Guidance lowered.

Period: second quarter ended June 30, 2023
Revenue: $184.1 million
Net income: $26.1 million
EPS: $0.22
Guidance: lowered
Result: reported results

Exact text from the filing

Ecovyst Reports Second Quarter 2023 Results MALVERN, PA, August 3, 2023 -- Ecovyst Inc. (NYSE: ECVT) (“Ecovyst” or the “Company”), a leading integrated and innovative global provider of specialty catalysts and services, today reported results for the second quarter ended June 30, 2023 and updated fiscal 2023 guidance. Second Quarter 2023 Results & Highlights ▪ Sales of $184.1 million, compared to $225.2 million in the second quarter of 2022, the reduction driven primarily by lower pass-through of sulfur costs of approximately $32 million. ▪ Net income of $26.1 million, up 36% year-over-year, with a net income margin of 14.2% and with diluted net income per share of $0.22, up 57% year-over-year; Adjusted net income of $34.6 million, up 15% year-over-year, with Adjusted diluted earnings per share of $0.29, up 32% year-over-year. ▪ Adjusted EBITDA of $79.3 million, up 9% year-over-year, with an Adjusted EBITDA margin of 34.7%.

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Source: SEC EDGAR

accession 0001708035-23-000026

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