NYSE$ECVT
Ecovyst Inc · Q3 2022 earnings
Q3 2022 earnings · · Investor relations
Briefing
Reported strong results, driven by sales growth and favorable demand for its products and services. Continued strong pricing mitigated inflationary pressures.
Ecovyst Inc. reported a strong third quarter in 2022, with sales up 39% year-over-year to $233 million. Net income increased to $21 million, with diluted earnings per share of $0.16. Adjusted EBITDA rose by 9% to $75 million, with margins at 29%. The company affirmed its 2022 Adjusted EBITDA guidance.
- Sales of $233 million, up 39% compared to the third quarter of 2021
- Net income of $21 million with diluted earnings per share of $0.16; Adjusted net income of $31 million with Adjusted diluted earnings per share of $0.23
- Adjusted EBITDA of $75 million, up 9% year-over-year with Adjusted EBITDA margins of 29%
- Year-to-date net cash from operations of $109 million, Adjusted Free Cash Flow of $85 million, and reduced net leverage ratio to 2.8x, compared to 3.3x at year-end 2021
Headline financials
Revenue & EPS history
Ecovyst · Revenue · Quarterly
$233M
Revenue by segment
Ecovyst · $196M total across 1 segment · Q3 2022
- Ecoservices$196M+42.3%100.0%
Forward guidance
Ecovyst anticipates that full-year 2022 Adjusted EBITDA will be at the high end of its prior guidance of $265 million-$275 million.
Tailwinds
- Sales of $810 million to $830 million
- Sales of $135 million to $145 million for proportionate 50% share of Zeolyst Joint Venture
- Adjusted EBITDA of $265 million to $275 million, up 19% from 2021 at the mid-point of the range
- Adjusted Free Cash Flow of $115 million to $125 million
- Capital Expenditures of $55 million to $65 million
Headwinds
- Sales guidance was reduced to reflect lower anticipated sulfur costs
- Sales outlook for 2022 includes approximately $90 million of higher sales vs. 2021 due to the pass through of increased sulfur costs, which is expected to negatively impact Adjusted EBITDA margin by more than (400) basis points
- Impact of revaluing the reporting entity’s DTAs and DTLs are reflected in continuing operations
- Delay in planned turnarounds has impacted the timing of certain catalysts sales
- Supply chain constraints, including limited availability and higher costs for transportation and logistics, have remained a factor
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 Q3 2022
-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
| Quarter | Report date | Reaction (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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