MALVERN, PA — Ecovyst Inc. (NYSE: ECVT) has reported financial results for the fourth quarter and full year of 2024, showcasing solid operational performance amid a challenging global economic environment. The company also outlined its strategic initiatives, focusing on advanced plastics recycling, carbon capture, and bio-catalysis, as well as calculated growth in 2025.
2024 Financial Highlights
- Full-year sales reached $704.5 million, a marginal increase from $691.1 million in 2023.
- Net loss for the year totaled $6.7 million, driven in part by a $65 million non-cash impairment charge in the Zeolyst Joint Venture. Adjusted net income was $68.6 million, and Adjusted EBITDA stood at $238.2 million, with a margin of 29.0%.
- Fourth-quarter sales rose 5% to $182.0 million, with Adjusted EBITDA increasing 8.7% year over year to $75.9 million.
“Ecovyst delivered solid results for the fourth quarter of 2024, demonstrating the resilience of our core and industrial businesses,” said Kurt J. Bitting, CEO of Ecovyst.
Segment Performance
Ecoservices: Fourth-quarter sales rose to $148.9 million, reflecting higher sales volumes and improved contract pricing. Adjusted EBITDA for the segment was $54.0 million, up nearly 12% from the same period in 2023.
Advanced Materials & Catalysts: This segment saw mixed results, with fourth-quarter sales for Advanced Silicas increasing by $1.7 million year-over-year. However, Zeolyst Joint Venture sales declined due to the timing of hydrocracking catalyst sales. Adjusted EBITDA for the segment reached $27.9 million, driven by higher Advanced Silicas volumes and cost savings.
Strategic Highlights
Ecovyst made significant strides in operational efficiency, achieving improved uptime in its Ecoservices segment. The company also advanced expansion projects at its Kansas City and Chem32 sites to support anticipated growth in polyethylene catalyst production and catalyst activation capacity.
A partial impairment in the Zeolyst Joint Venture’s goodwill and trade name, amounting to $65 million, was noted as a reflection of reduced demand for certain catalysts.
2025 Outlook
For 2025, Ecovyst projects sales between $755 million and $815 million and Adjusted EBITDA of $238 million to $258 million. It expects growth in regeneration services, virgin sulfuric acid sales, and Chem32 catalyst activation. However, near-term uncertainty remains for polyethylene catalysts due to global demand softness.
The company anticipates Adjusted Net Income of $58 million to $85 million, with Adjusted Diluted Income per Share of $0.50 to $0.70, while capital expenditures are projected between $80 million and $90 million.
With investments in sustainability-focused initiatives, such as bio-catalysis, carbon capture, and advanced plastics recycling, Ecovyst remains confident in its ability to address emerging growth opportunities and deliver value for stakeholders.
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