2023-08-03 06:44:01 ET
- Ecovyst press release ( NYSE: ECVT ): Q2 Non-GAAP EPS of $0.29 beats by $0.01 .
- Revenue of $184.1M (-18.3% Y/Y) misses by $12.91M .
- Sales of $184.1 million, compared to $225.2 million in the second quarter of 2022, the reduction driven primarily by lower pass-through of sulfur costs of approximately $32 million.
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Based upon business trends and conditions as of today, the Company’s full year 2023 guidance is as follows:
- Sales of $685 million to $715 million 1 (changed from $730 million to $760 million to reflect lower expected virgin sulfuric acid volume and lower expected volume of polyethylene catalysts)
- Sales of $155 million to $165 million for proportionate 50% share of Zeolyst Joint Venture, which is excluded from GAAP sales (increased from $145 million to $155 million)
- Adjusted EBITDA 2 of $260 million to $275 million (change from $285 million to $300 million)
- Adjusted Free Cash Flow 2 of $100 million to $115 million (change from $115 million to $130 million)
- Capital expenditures of $50 million to $60 million (change from $60 million to $70 million)
- Interest expense of $45 million to $50 million (no change)
- Depreciation & amortization (no change)
- Ecovyst - $80 million to $90 million
- Zeolyst J.V. - $14 million to $16 million
For further details see:
Ecovyst Non-GAAP EPS of $0.29 beats by $0.01, revenue of $184.1M misses by $12.91M