Ecovyst backs FY24 adjusted EPS view 45c-63c, consensus 56c

Backs FY24 revenue view $700M-$740M, consensus $718.77M. Backs FY24 adjusted EBITDA view $230M-$245M. Backs FY24 capital expenditures view $70M-$80M. “I am pleased with the focus and performance of my Ecovyst (ECVT) colleagues in the face of the near-term challenges in some of our product groups. Based upon our current expectations for the remainder of the year, which include continued positive momentum in our Ecoservices business, and an expectation for higher polyethylene catalyst sales and anticipated timing associated with hydrocracking and niche custom catalyst sales, we are maintaining our guidance for full-year 2024 Adjusted EBITDA of $230 million $245 million. While we remain cautious about the uncertainty in the global macroeconomic environment and its potential impact on industrial activity over the balance of the year, we believe the continued resilience and cash generation of our core businesses will allow Ecovyst to remain intently focused on achieving our long-term growth objectives and on value creation for our shareholders,” Bitting said.