Ecovyst reported sales of $182.8 million, a slight decrease from the previous year, but net income significantly dropped to $8.3 million. Adjusted EBITDA was $56.9 million, reflecting lower net pricing in Ecoservices and reduced sales in the Zeolyst Joint Venture, partially offset by strong demand in Ecoservices and Advanced Silicas.
Sales reached $182.8 million, slightly below the $184.1 million reported in Q2 2023.
Net income decreased to $8.3 million, compared to $26.1 million in the same quarter last year.
Adjusted EBITDA declined by 28% to $56.9 million, with a margin of 26.8%.
The company updated its 2024 guidance, anticipating softening demand in sustainable fuel production and emission control end uses.
Ecovyst revised its full-year 2024 Adjusted EBITDA guidance to a range of $230 million to $245 million, reflecting lower expectations for sales of catalysts used in sustainable fuels and emission control applications, and a more conservative view of overall demand fundamentals.
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