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Dec 31, 2021
Ecovyst Q4 2021 Earnings Report
Ecovyst reported strong fourth quarter and full year 2021 results, with growth momentum boosting profitability.
Key Takeaways
Ecovyst Inc. reported a strong fourth quarter with sales of $170.2 million, up 37% year-over-year, and adjusted EBITDA of $63.2 million, up 38% year-over-year. The company's performance was driven by higher pricing to cover increased costs and stronger volumes across most product categories. Net income for the quarter was $7.8 million, or $0.06 per diluted share, while adjusted net income was $22.9 million, or $0.17 per diluted share.
Sales of $170.2 million, up 37% year-over-year.
Net income of $7.8 million with diluted income per share of $0.06. Adjusted net income of $22.9 million with Adjusted diluted income per share of $0.17.
Adjusted EBITDA of $63.2 million, up 38% year-over-year.
Adjusted EBITDA margins of 30.6%, up 60 bps year-over-year as price more than offset higher costs, demonstrating resilient profitability.
Revenue by Segment
Forward Guidance
Ecovyst anticipates sales of $730 million to $750 million and Adjusted EBITDA of $260 million to $270 million.
Positive Outlook
- Sales of $730 million to $750 million, up 21% from 2021 at the mid-point of the range
- Sales of $150 million to $160 million for proportionate 50% share of Zeolyst Joint Venture, which is excluded from GAAP Sales
- Adjusted EBITDA of $260 million to $270 million, up 16% from 2021 at the mid-point of the range
- Adjusted Free Cash Flow of $115 million to $125 million
- Sales outlook for 2022 includes approximately $60 million of higher sales related to the pass through of higher sulfur costs, which negatively impact Adjusted EBITDA margin by over 200 basis points, but do not negatively impact Adjusted EBITDA.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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