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Jun 30, 2022
Ecovyst Q2 2022 Earnings Report
Reported strong financial performance and solid operational execution with continued progress in implementing long-term strategies.
Key Takeaways
Ecovyst Inc. reported a strong second quarter in 2022, with sales up 53% to $225 million and net income of $19 million. The company's adjusted EBITDA increased by 38% year-over-year to $73 million, driven by higher sales volumes and pricing. Due to this strong performance, Ecovyst is raising its prior 2022 guidance.
Sales of $225 million, up 53% compared to the second quarter of 2021
Net income of $19 million with diluted earnings per share of $0.14; Adjusted net income of $30 million with Adjusted diluted earnings per share of $0.22
Adjusted EBITDA of $73 million, up 38% year-over-year with adjusted EBITDA margins of 28%
Repurchased 893,123 shares at an average price of $9.88, for total cost of $8.8 million.
Revenue by Segment
Forward Guidance
The Company is adjusting its 2022 guidance as follows:
Positive Outlook
- Sales of $830 million to $850 million (increased from $810 million to $830 million, including the expected impact of the pass-through of higher sulfur costs)
- Sales of $135 million to $145 million (change from $150 million to $160 million) for proportionate 50% share of Zeolyst Joint Venture, which is excluded from GAAP Sales
- Adjusted EBITDA of $265 million to $275 million (increased from $260 million to $270 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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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