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Mar 31, 2020
Ecovyst Q1 2020 Earnings Report
PQ Group reported solid results, driven by volume growth in Catalysts, Performance Materials, and Refining Services. However, the company withdrew its previously announced annual 2020 financial outlook due to COVID-19 uncertainty.
Key Takeaways
PQ Group Holdings Inc. reported a slight increase in sales for Q1 2020, with a rise of 0.7% to $361.6 million. Net income was $0.2 million, resulting in diluted EPS of $0.00. Adjusted EBITDA increased by 2.1% to $103.1 million, with an Adjusted EBITDA margin of 26.2%. The company has withdrawn its 2020 financial outlook due to the uncertainty caused by the COVID-19 pandemic.
Sales increased by 0.7%, or 2.3% on a constant currency basis, reaching $361.6 million.
Net income was $0.2 million, with diluted EPS at $0.00; adjusted net income was $21.7 million, with adjusted diluted EPS at $0.16.
Adjusted EBITDA increased by 2.1%, or 3.3% on a constant currency basis, amounting to $103.1 million; adjusted EBITDA margin was 26.2%.
Liquidity stood at $236.3 million, including cash on hand of $107.7 million as of March 31, 2020.
Forward Guidance
Due to the uncertainty of COVID-19 related impact on near term demand trends, the company is withdrawing its previously announced annual 2020 financial outlook except for the below:
Historical Earnings Impact
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Avg. Return Before/After Earnings
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