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Dec 31, 2020
Ecovyst Q4 2020 Earnings Report
PQ Group reported results driven by demand recovery and strategic transformation.
Key Takeaways
PQ Group's Q4 2020 sales matched Q4 2019, reflecting a rebound in demand. The company reported a net loss of $182.8 million, or $1.35 diluted loss per share, and an Adjusted net income of $82.5 million, or Adjusted diluted EPS of $0.61 per share. Adjusted EBITDA totaled $81.8 million.
Solid quarter performance driven by demand recovery across many end uses and benefit of Performance Chemicals business transformation plan.
Year results reflect lower volumes from global pandemic, offset by cost actions undertaken at all businesses.
Net cash provided by operating activities of $223.6 million and Adjusted free cash flow of $152.5 million for the year.
Portfolio transformation accelerated with agreement for the sale of the Performance Chemicals business for $1.1 billion and the completed sale of Performance Materials for $650 million.
Forward Guidance
PQ provided 2021 guidance from continuing operations for Target PQ, which reflects the Refining Services and Catalyst businesses and excludes Performance Chemicals.
Positive Outlook
- Sales of $555 to $565 million
- Adjusted EBITDA of $215 to $225 million
- Adjusted free cash flow of $75 to $85 million
Historical Earnings Impact
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Avg. Return Before/After Earnings
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