NYSE$ECVT
Ecovyst Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Ecovyst's fourth quarter and full year results for 2023 were reported.
Ecovyst reported Q4 2023 sales of $172.8 million and net income of $30.0 million. Adjusted EBITDA increased by 0.9% to $69.8 million compared to Q4 2022, driven primarily by higher sales volume. The company's diverse end-use exposures and stable demand fundamentals contributed to the solid financial results.
- Sales were $172.8 million, a decrease from $182.8 million in Q4 2022, primarily due to lower sulfur costs.
- Net income from continuing operations was $30.0 million, with diluted income per share of $0.26.
- Adjusted EBITDA increased 0.9% year-over-year to $69.8 million, with an Adjusted EBITDA margin of 30.9%.
- Ecovyst advanced strategic objectives, positioning for growth in sustainable fuels, advanced recycling, and low-carbon technologies.
Headline financials
Revenue & EPS history
Ecovyst · Revenue · Quarterly
$173M
Revenue by segment
Ecovyst · $148M total across 1 segment · Q3 2023
- Ecoservices$148M-24.6%100.0%
Forward guidance
Ecovyst provided full year 2024 guidance, anticipating solid performance in regeneration services offset by timing-related factors for hydrocracking catalysts and cautiousness regarding economic conditions moderating demand recovery.
Tailwinds
- Sales of $715 million to $755 million
- Sales of $145 million to $165 million for proportionate 50% share of Zeolyst Joint Venture
- Adjusted EBITDA of $255 million to $275 million
- Adjusted Free Cash Flow of $85 million to $105 million
- Ecovyst is firmly committed to executing the strategy that we presented at our November 2023 investor day that we believe will deliver long-term value for our shareholders.
Headwinds
- We believe that our regeneration services business will experience another solid year in 2024, which will be somewhat offset by a timing related off-cycle year for hydrocracking catalysts.
- We are also cautious about the continuing uncertain economic conditions moderating demand recovery for virgin sulfuric acid and polyethylene catalysts.
- Capital expenditures of $70 million to $80 million
- Interest expense of $45 million to $55 million
- Effective tax rate in the mid 20% range
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 2023
-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% |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro