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Jun 30, 2020
Ecovyst Q2 2020 Earnings Report
PQ Group reported second quarter results with net income of $16 million and Adjusted EBITDA of $113 million, demonstrating resilience and effective cost management amid macroeconomic challenges.
Key Takeaways
PQ Group Holdings Inc. reported a decrease in sales by 16.7% compared to the same period in 2019, primarily due to COVID-19 impacts. However, net income was $15.9 million, and Adjusted EBITDA was $113.0 million. The company is reinitiating 2020 financial guidance and raising expectations for annual Adjusted free cash flow.
Sales decreased by 16.7% year-over-year, mainly due to COVID-19 impacts.
Net income was $15.9 million with diluted EPS of $0.12.
Adjusted EBITDA was $113.0 million with a margin of 28.2%.
The company is reinitiating 2020 guidance and raising 2020 Adjusted Free Cash Flow expectations.
Forward Guidance
PQ Group provided full-year 2020 guidance which includes sales of $1,430 to $1,460 million, Adjusted EBITDA of $410 to $425 million, Adjusted EBITDA margin of ~27% in line with 2019 margins, Adjusted diluted EPS of $0.67 to $0.86 and Adjusted free cash flow in the range of $145 to $155 million.
Positive Outlook
- Sales of $1,430 to $1,460 million
- Adjusted EBITDA of $410 to $425 million
- Adjusted EBITDA margin of ~27% in line with 2019 margins
- Adjusted diluted EPS of $0.67 to $0.86
- Adjusted free cash flow in the range of $145 to $155 million
Historical Earnings Impact
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Avg. Return Before/After Earnings
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