Ecovyst Q2 net income falls 68% to $8.3M; cuts FY2024 Adj EBITDA guidance by ~10%

Ecovyst Inc.

2024-Q2 EPS reported $0.08 revenue$343,357,000

Q2 sales $182.8M vs $184.1M YoY; net income $8.3M vs $26.1M; diluted EPS $0.07.
Adjusted EBITDA $56.9M, down 28% YoY; margin 26.8%.
FY2024 Adj EBITDA guidance cut to $230-245M from $255-275M; sales guidance to $700-740M.
Zeolyst JV sales decline: Q2 proportionate share $29.0M vs $44.7M; full-year JV sales guidance cut to $115-135M.
Repurchased 552,081 shares at avg $9.05 for $5.0M; amended term loan to June 2031.

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