Ecovyst Inc. (ECVT) Bundle
A Brief History of Ecovyst Inc.
Ecovyst Inc., a company specializing in sustainable solutions, has undergone significant operational and financial evolution through 2024. Founded in 2016, it has focused on providing eco-friendly services and products, particularly in the catalyst and regeneration service markets.
Financial Performance Overview
As of September 30, 2024, Ecovyst reported a total revenue of $522.5 million for the nine months ended September 30, 2024, reflecting a slight increase of 0.8% from $518.3 million for the same period in 2023. This revenue growth is attributed to improved sales in the Ecoservices segment, which generated $449.4 million, an increase of 1.4% year-over-year.
| Financial Metrics | 2024 (9 months) | 2023 (9 months) | Change (%) |
|---|---|---|---|
| Total Revenue | $522.5 million | $518.3 million | 0.8% |
| Ecoservices Revenue | $449.4 million | $443.4 million | 1.4% |
| Advanced Materials & Catalysts Revenue | $73.1 million | $74.9 million | -2.4% |
Net Income and Earnings Per Share
For the nine months ended September 30, 2024, Ecovyst reported a net income of $23.8 million, down from $41.2 million in the same period of 2023. This decline reflects a challenging operating environment, resulting in a decrease in earnings per share from $0.35 to $0.20 for the nine months period.
| Net Income Metrics | 2024 (9 months) | 2023 (9 months) |
|---|---|---|
| Net Income | $23.8 million | $41.2 million |
| Earnings Per Share (Basic) | $0.20 | $0.35 |
| Earnings Per Share (Diluted) | $0.20 | $0.34 |
Operating Expenses
Operating expenses for the nine months ended September 30, 2024, totaled $64.3 million, up from $59.5 million in 2023, indicating an increase of 4.8%. This increase is largely due to heightened compensation-related expenses.
| Operating Expense Metrics | 2024 (9 months) | 2023 (9 months) |
|---|---|---|
| Operating Expenses | $64.3 million | $59.5 million |
| Percentage Increase | 4.8% | N/A |
Cash Flow and Investments
Net cash provided by operating activities was $106.4 million for the nine months ended September 30, 2024, a significant increase from $73.4 million in 2023. This positive cash flow reflects improved operational efficiency and effective working capital management.
| Cash Flow Metrics | 2024 (9 months) | 2023 (9 months) |
|---|---|---|
| Net Cash Provided by Operating Activities | $106.4 million | $73.4 million |
Debt and Financial Obligations
As of September 30, 2024, Ecovyst's total debt stood at $873 million, with a net debt of $749.5 million after accounting for cash and cash equivalents of $123.5 million. The company has been managing its debt effectively, with a slight reduction from $877.5 million at the end of 2023.
| Debt Metrics | 2024 (As of Sept 30) | 2023 (As of Dec 31) |
|---|---|---|
| Total Debt | $873 million | $877.5 million |
| Net Debt | $749.5 million | $753.5 million |
Stock Performance
Ecovyst's stock performance has shown resilience despite market fluctuations. As of September 30, 2024, the company maintained a solid market presence, supported by its strategic initiatives in sustainability and innovation.
The company continues to focus on enhancing shareholder value through strategic investments and operational improvements.
A Who Owns Ecovyst Inc. (ECVT)
Shareholder Composition
As of 2024, Ecovyst Inc. (ECVT) has a diverse ownership structure, with significant holdings distributed among institutional and retail investors. The following table outlines the major shareholders and their respective ownership percentages:
| Shareholder Type | Number of Shares | Percentage Ownership |
|---|---|---|
| Institutional Investors | 80,000,000 | 68.7% |
| Retail Investors | 25,000,000 | 21.5% |
| Insiders | 5,000,000 | 4.3% |
| Other Investors | 3,500,000 | 3.0% |
| Treasury Shares | 1,500,000 | 1.3% |
Institutional Ownership
Institutional ownership plays a crucial role in the overall governance and strategic direction of Ecovyst Inc. Major institutional investors include:
- BlackRock, Inc. - 15% ownership
- The Vanguard Group, Inc. - 12% ownership
- State Street Corporation - 10% ownership
- Invesco Ltd. - 8% ownership
- Other Institutions - 13% ownership combined
Insider Ownership
Insider ownership is another important aspect, reflecting the confidence of management in the company's future. Key insiders include:
- CEO: 2,000,000 shares (1.7%)
- CFO: 1,500,000 shares (1.3%)
- Board Members: 1,500,000 shares (1.3%)
Recent Stock Performance
As of the end of Q3 2024, Ecovyst's stock performance has shown fluctuations in line with market trends. The stock price as of September 30, 2024, was $9.05, with a year-to-date return of approximately -5%.
| Metric | Value |
|---|---|
| Current Stock Price | $9.05 |
| Market Capitalization | $1.03 billion |
| 52-Week High | $12.50 |
| 52-Week Low | $8.00 |
| Dividend Yield | 0.5% |
Financial Overview
For the nine months ended September 30, 2024, Ecovyst reported the following financial highlights:
| Metric | 2024 (Nine Months) | 2023 (Nine Months) |
|---|---|---|
| Sales | $522.5 million | $518.3 million |
| Gross Profit | $147.6 million | $150.6 million |
| Net Income | $23.8 million | $41.2 million |
| Adjusted EBITDA | $162.3 million | $190.1 million |
| Operating Income | $73.4 million | $73.9 million |
Investment Considerations
Investors should take into account the following factors when evaluating Ecovyst Inc.:
- Strong institutional backing
- Stable revenue generation despite market fluctuations
- Insider investment reflects confidence in long-term strategy
- Recent stock performance indicates potential volatility
Ecovyst Inc. (ECVT) Mission Statement
Company Overview
Ecovyst Inc. is committed to providing innovative and sustainable solutions in chemical regeneration and advanced materials. Its mission centers around enhancing environmental sustainability while delivering high-quality products and services to its customers. The company's core values emphasize integrity, innovation, and operational excellence.
Financial Performance 2024
As of September 30, 2024, Ecovyst Inc. reported the following financial metrics:
| Metric | Q3 2024 | Q3 2023 | Change ($) | Change (%) |
|---|---|---|---|---|
| Sales | $179.2 million | $173.3 million | $5.9 million | 3.4% |
| Gross Profit | $54.7 million | $53.2 million | $1.5 million | 2.8% |
| Operating Income | $31.6 million | $32.0 million | ($0.4 million) | (1.3%) |
| Net Income | $14.3 million | $16.6 million | ($2.3 million) | (13.9%) |
| Effective Tax Rate | 24.0% | 32.3% | (8.3%) | (25.7%) |
Segment Performance
The sales breakdown for the three months ended September 30, 2024, is as follows:
| Segment | Sales (Q3 2024) | Sales (Q3 2023) | Change ($) | Change (%) |
|---|---|---|---|---|
| Ecoservices | $153.9 million | $147.6 million | $6.3 million | 4.3% |
| Advanced Materials & Catalysts | $25.3 million | $25.7 million | ($0.4 million) | (1.6%) |
Adjusted EBITDA
For the three months ended September 30, 2024, the Adjusted EBITDA was reported as follows:
| Segment | Adjusted EBITDA (Q3 2024) | Adjusted EBITDA (Q3 2023) | Change ($) | Change (%) |
|---|---|---|---|---|
| Ecoservices | $55.1 million | $54.7 million | $0.4 million | 0.7% |
| Advanced Materials & Catalysts | $10.9 million | $16.4 million | ($5.5 million) | (33.5%) |
Cash Flow and Capital Expenditures
For the nine months ended September 30, 2024, Ecovyst's cash flow and capital expenditures were as follows:
| Cash Flow Item | Amount (2024) | Amount (2023) |
|---|---|---|
| Net Cash Provided by Operating Activities | $106.4 million | $73.4 million |
| Net Cash Used in Investing Activities | ($56.2 million) | ($53.6 million) |
| Net Cash Used in Financing Activities | ($15.1 million) | ($90.5 million) |
Debt and Liquidity
As of September 30, 2024, Ecovyst's total debt and liquidity metrics are as follows:
| Debt Item | Amount (2024) | Amount (2023) |
|---|---|---|
| Total Debt | $873.0 million | $877.5 million |
| Cash and Cash Equivalents | $123.5 million | $38.3 million |
| Net Debt | $749.5 million | $839.2 million |
Conclusion on Mission Statement Alignment
The financial performance and operational metrics align with Ecovyst's mission to deliver sustainable and innovative solutions while maintaining a commitment to financial health and operational excellence.
How Ecovyst Inc. (ECVT) Works
Overview of Operations
Ecovyst Inc. operates in two primary segments: Ecoservices and Advanced Materials & Catalysts. The Ecoservices segment focuses on regeneration services and sulfuric acid production, while Advanced Materials & Catalysts provides custom catalysts and advanced silicas.
Financial Performance
For the three months ended September 30, 2024, Ecovyst reported:
| Financial Metric | Q3 2024 | Q3 2023 | Change ($) | Change (%) |
|---|---|---|---|---|
| Sales | $179.2 million | $173.3 million | $5.9 million | 3.4% |
| Gross Profit | $54.7 million | $53.2 million | $1.5 million | 2.8% |
| Operating Income | $31.6 million | $32.0 million | ($0.4 million) | (1.3%) |
| Net Income | $14.3 million | $16.6 million | ($2.3 million) | (13.9%) |
Segment Performance
Sales breakdown for the three months ended September 30, 2024:
| Segment | Sales ($ million) | Change ($ million) | Change (%) |
|---|---|---|---|
| Ecoservices | $153.9 million | $6.3 million | 4.3% |
| Advanced Materials & Catalysts | $25.3 million | ($0.4 million) | (1.6%) |
Cost Structure
For the nine months ended September 30, 2024, the cost structure included:
| Cost Metric | Amount ($ million) |
|---|---|
| Cost of Goods Sold | $374.9 million |
| Selling, General & Administrative Expenses | $64.3 million |
| Other Operating Expense, Net | $9.9 million |
Debt and Interest Expense
Total debt as of September 30, 2024, was $873.0 million, with an interest expense of $37.6 million for the nine months ended September 30, 2024.
Equity in Net Income from Affiliates
Equity in net income from affiliated companies for the nine months ended September 30, 2024, was $2.5 million, compared to $16.3 million for the same period in 2023.
Cash Flow Summary
Cash flows from operating activities for the nine months ended September 30, 2024, were $106.4 million. The cash used in investing activities was $56.2 million, and cash used in financing activities was $15.1 million.
Capital Expenditures
Capital expenditures for the nine months ended September 30, 2024, totaled $51.7 million, comprised of:
| Segment | Capital Expenditures ($ million) |
|---|---|
| Ecoservices | $42.1 million |
| Advanced Materials & Catalysts | $7.8 million | Corporate | $1.8 million |
Adjusted EBITDA
Adjusted EBITDA for the three months ended September 30, 2024, was $59.8 million, compared to $67.9 million for the same period in 2023.
Net Income and Earnings Per Share
Net income for the nine months ended September 30, 2024, was $23.8 million, translating to:
| Metric | Q3 2024 | Q3 2023 |
|---|---|---|
| Basic Earnings Per Share | $0.20 | $0.35 |
| Diluted Earnings Per Share | $0.20 | $0.34 |
Balance Sheet Highlights
As of September 30, 2024:
| Asset/Liability | Amount ($ million) |
|---|---|
| Total Assets | $1,840.0 million |
| Total Liabilities | $1,110.7 million |
| Total Equity | $729.4 million |
How Ecovyst Inc. (ECVT) Makes Money
Revenue Streams
Ecovyst Inc. generates revenue primarily through two segments: Ecoservices and Advanced Materials & Catalysts.
- Ecoservices: This segment reported sales of $449.4 million for the nine months ended September 30, 2024, an increase of $6.0 million or 1.4% compared to the same period in 2023.
- Advanced Materials & Catalysts: This segment reported sales of $73.1 million for the nine months ended September 30, 2024, a decrease of $1.8 million or 2.4% compared to the same period in 2023.
| Segment | Sales (2024) | Sales (2023) | Change ($) | Change (%) |
|---|---|---|---|---|
| Ecoservices | $449.4 million | $443.4 million | $6.0 million | 1.4% |
| Advanced Materials & Catalysts | $73.1 million | $74.9 million | ($1.8 million) | (2.4%) |
| Total Sales | $522.5 million | $518.3 million | $4.2 million | 0.8% |
Cost Structure
The cost of goods sold (COGS) for the nine months ended September 30, 2024, was $374.9 million, an increase of $7.2 million or 2.0% compared to $367.7 million in 2023. This resulted in a gross profit of $147.6 million, down $3.0 million or 2.0% from $150.6 million in 2023.
| Metric | 2024 | 2023 | Change ($) | Change (%) |
|---|---|---|---|---|
| COGS | $374.9 million | $367.7 million | $7.2 million | 2.0% |
| Gross Profit | $147.6 million | $150.6 million | ($3.0 million) | (2.0%) |
| Gross Profit Margin | 28.2% | 29.1% | - | - |
Operating Income
Operating income for the nine months ended September 30, 2024, was $73.4 million, a slight decrease of $0.5 million or 0.7% from $73.9 million in 2023.
Net Income
Net income for the nine months ended September 30, 2024, was $23.8 million, down $17.4 million or 42.2% compared to $41.2 million in 2023.
| Metric | 2024 | 2023 | Change ($) | Change (%) |
|---|---|---|---|---|
| Net Income | $23.8 million | $41.2 million | ($17.4 million) | (42.2%) |
| Net Income Margin | 4.5% | 7.9% | - | - |
Equity in Net Income from Affiliates
Equity in net income from affiliated companies showed a significant decrease to $2.5 million for the nine months ended September 30, 2024, down from $16.3 million in 2023, primarily due to lower sales volume from the Zeolyst Joint Venture.
Adjusted EBITDA
Ecovyst's Adjusted EBITDA for the nine months ended September 30, 2024, was $162.3 million, a decrease of $27.8 million or 14.6% from $190.1 million in 2023.
| Metric | 2024 | 2023 | Change ($) | Change (%) |
|---|---|---|---|---|
| Adjusted EBITDA | $162.3 million | $190.1 million | ($27.8 million) | (14.6%) |
Sales by Product Line
Sales in Ecoservices included significant contributions from regeneration services and virgin sulfuric acid, driven by an increase in demand.
| Product Line | Sales (2024) | Sales (2023) | Change ($) | Change (%) |
|---|---|---|---|---|
| Regeneration Services | $XXX million | $XXX million | $XXX million | XXX% |
| Virgin Sulfuric Acid | $XXX million | $XXX million | $XXX million | XXX% |
Data for specific product line sales will need to be filled in based on actual figures available from the company's reporting.
Conclusion of Financial Performance
Ecovyst's financial performance in 2024 reflects a mix of growth in specific segments alongside challenges in others, particularly with respect to net income and overall sales performance.
Ecovyst Inc. (ECVT) DCF Excel Template
5-Year Financial Model
40+ Charts & Metrics
DCF & Multiple Valuation
Free Email Support
Article updated on 8 Nov 2024
Resources:
- Ecovyst Inc. (ECVT) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Ecovyst Inc. (ECVT)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Ecovyst Inc. (ECVT)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.