NYSE$ECVT
Ecovyst Inc · Q4 2022 earnings
Q4 2022 earnings · · Investor relations
Briefing
Ecovyst reported solid financial performance driven by positive demand trends and strategic initiatives.
Ecovyst reported a 7.4% increase in sales and a 176% increase in net income for Q4 2022. The company's Adjusted EBITDA also increased by 9.4% compared to the same period in 2021. Strong cash generation allowed for significant debt reduction and increased shareholder value through share repurchases.
- Sales increased by 7.4% compared to Q4 2021, primarily driven by higher average selling prices in Ecoservices.
- Net income increased by 176% compared to Q4 2021, driven by higher operating income, additional equity in net income from affiliates, and lower provision for income taxes.
- Adjusted EBITDA increased by 9.4% compared to Q4 2021, driven by higher pricing and higher sales volume.
- The company repurchased 8,000,000 shares at an average price of $7.88, for a total cost of $63.0 million in connection with a secondary offering.
Headline financials
Revenue & EPS history
Ecovyst · Revenue · Quarterly
$183M
Revenue by segment
Ecovyst · $160M total across 1 segment · Q4 2022
- Ecoservices$160M+12.5%100.0%
Forward guidance
Ecovyst provided full year 2023 guidance with sales between $760 million and $790 million and Adjusted EBITDA between $285 million and $300 million.
Tailwinds
- Sales of $760 million to $790 million
- Sales of $145 million to $155 million for proportionate 50% share of Zeolyst Joint Venture, which is excluded from GAAP Sales
- Adjusted EBITDA of $285 million to $300 million, up 6% from 2022 at the mid-point of the range, and inclusive of impacts from Winter Storm Elliott
- Adjusted Free Cash Flow of $115 million to $130 million
- Capital expenditures of $60 million to $70 million
Headwinds
- Interest expense of $45 million to $50 million
- Depreciation & Amortization Ecovyst - $80 million to $90 million
- Zeolyst J.V. Depreciation & Amortization - $14 million to $16 million
- Sales outlook for 2023 assumes lower average sulfur prices, compared to 2022, and lower projected pass-through of sulfur costs of approximately $95 million.
- In reliance upon the unreasonable efforts exemption provided under Item 10(e)(1)(i)(B) of Regulation S-K, the Company is not able to provide a reconciliation of its non-GAAP financial guidance to the corresponding GAAP measures without unreasonable effort
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 Q4 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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