NYSE$ECVT

Ecovyst Inc · Q1 2021 earnings

Q1 2021 earnings · · Investor relations

Briefing

Reported solid results from continuing operations and reiterated 2021 outlook.

PQ Group Holdings Inc. reported first quarter 2021 results with sales of $126.6 million, a net loss of $2.8 million, and adjusted EBITDA of $42.3 million. The company reiterated its full-year 2021 financial outlook and is on track to close the sale of Performance Chemicals in the second half of 2021.

  • Sales of $126.6 million and net loss of $2.8 million with diluted loss per share of $0.02; Adjusted net income of $6.1 million with Adjusted diluted EPS of $0.04.
  • Adjusted EBITDA of $42.3 million impacted by $9 million related to historic winter storm Uri; Adjusted EBITDA margin of 27.2%.
  • Reiterated full year 2021 financial outlook.
  • On track for closing the sale of Performance Chemicals planned for the second half of 2021.

Headline financials

Total Revenue

$127M

Previous: $362M-65.0%
EPS (adj)

$0.04

Previous: $0.16-75.0%
Adjusted EBITDA

$42.3M

Previous: $103M-59.0%
Adjusted EBITDA Margin

27.2%

Previous: 26.2%+3.8%
Capital Expenditures

-$12.6M

Previous: -$28.1M+55.3%
Free Cash Flow

-$105M

Previous: -$27.9M-277.3%
Net Income

-$92.6M

Previous: $224K-41454.9%
Operating Income

$2.48M

Previous: $23.4M-89.4%
Gross Profit

$30.1M

Previous: $88.6M-66.0%
Cash & Equivalents

$55.2M

Previous: $108M-48.8%
Total Assets

$3.06B

Previous: $4.3B-28.7%
Stock-Based Comp

$6.31M

No prior period

Revenue & EPS history

Ecovyst · Revenue · Quarterly

$127M

Q1 2021-65%vs Q1 2020
Beat estimate in 13 of 16 quarters(81%)
ActualEstimate

Revenue by segment

Ecovyst · $148M total across 1 segment · Q3 2023

  • Ecoservices
    $148M-24.6%

Forward guidance

The Company is reiterating its 2021 guidance from continuing operations based on the expected recovery in demand for many of its end uses to pre-pandemic levels.

Tailwinds

  • Sales of $555 million to $565 million
  • Adjusted EBITDA of $215 million to $225 million
  • Adjusted free cash flow of $75 million to $85 million
  • Improving recovery trends in traditional fuels
  • Incremental growth in renewable fuels

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2021

Historical avgQ1 2021

-1.5%

Avg return

Earnings day

-1.9%

Avg return

5 days after

+0.2%

Avg return

30 days after

49%

20 / 41 earnings

Positive

+19.6%

Q3 2024

Best reaction

-29.9%

Q2 2024

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+4.3%+0.1%-8.5%
Q4 2025+1.1%+1.3%+13.4%
Q3 2025-1.3%-5.5%+10.8%
Q1 2025+3.5%+13.0%+24.6%
Q4 2024-14.4%-18.6%-22.2%
Q3 2024+19.6%+22.1%+24.8%
Q2 2024-29.9%-34.8%-24.7%
Q1 2024+3.0%+2.6%-2.2%
Q4 2023-1.3%-7.6%+14.0%
Q3 2023+4.4%+2.0%+9.0%
Q2 2023-17.2%-18.3%-14.4%
Q1 2023-7.1%-10.3%-8.5%
Q4 2022-1.4%+6.6%+4.8%
Q3 2022-5.3%-2.8%-7.4%
Q2 2022+5.2%+4.5%-4.6%
Q1 2022-10.2%-13.2%-7.5%
Q4 2021+9.4%+10.3%+19.8%
Q1 2016-16.5%-24.4%-24.2%
Q3 2021+3.6%+5.1%-22.1%
Q2 2021+0.8%+7.0%-15.7%
Q1 2021+1.9%+5.3%+9.5%
Q4 2020+0.3%+0.3%-6.4%
Q3 2020-3.4%-5.3%+9.2%
Q2 2020-8.2%-8.9%-11.2%
Q1 2020-1.1%+4.5%+19.7%
Q4 2019+0.5%-9.2%-37.9%
Q3 2019-0.2%-0.2%-3.3%
Q2 2019+7.5%+10.3%+9.2%
Q1 2019-0.1%-2.0%-1.0%
Q4 2018-2.2%-2.5%-9.4%
Q3 2018+1.9%-4.8%-6.4%
Q2 2017-3.0%-1.9%-2.2%
Q2 2018+0.2%-0.1%-0.8%
Q1 2017-0.1%+3.8%+27.6%
Q1 2018-2.6%-1.0%+25.3%
Q2 2016-4.3%-3.8%+3.2%
Q4 2015-4.3%-3.8%+3.2%
Q4 2017+3.5%+4.1%+8.7%
Q3 2016+0.7%-0.3%+4.4%
Q4 2016+0.7%-0.3%+4.4%
Q3 2017+1.3%-0.6%+3.3%

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