Ecovyst Inc. Files Q3 2024 10-Q Report

TL;DR

Ecovyst's Q3 2024 10-Q is in. Check financials for the latest.

AI Summary

Ecovyst Inc. filed its 10-Q for the period ending September 30, 2024. The filing covers the third quarter and the first nine months of the year. Key financial data and business operations for this period are detailed within the report.

Why It Matters

This 10-Q filing provides investors and stakeholders with a detailed look at Ecovyst's financial performance and operational status for the third quarter of 2024, crucial for understanding the company's trajectory.

Risk Assessment

Risk Level: medium — 10-Q filings are standard disclosures, but the specific financial details and business context within this report could indicate varying levels of risk.

Key Numbers

• 2024-09-30 — Period End Date (Indicates the end of the reporting quarter for the 10-Q filing.)
• 2024-11-01 — Filing Date (The date Ecovyst Inc. submitted this 10-Q to the SEC.)

Key Players & Entities

• Ecovyst Inc. (company) — Filer of the 10-Q report
• PQ Group Holdings Inc. (company) — Former company name of Ecovyst Inc.
• 2024-09-30 (date) — End of the reporting period for the 10-Q
• 2024-11-01 (date) — Filing date of the 10-Q

FAQ

Key Financial Figures

• $0.01 — ich registered Common stock, par value $0.01 per share ECVT New York Stock Exchange

Filing Documents

• ecvt-20240930.htm (10-Q) — 1724KB
• ex311-sec302ceocertx093020.htm (EX-31.1) — 11KB
• ex312-sec302cfocertx093020.htm (EX-31.2) — 11KB
• ex321-sec906ceocertx093020.htm (EX-32.1) — 6KB
• ex322-sec906cfocertx093020.htm (EX-32.2) — 6KB
• 0001708035-24-000117.txt ( ) — 9204KB
• ecvt-20240930.xsd (EX-101.SCH) — 53KB
• ecvt-20240930_cal.xml (EX-101.CAL) — 74KB
• ecvt-20240930_def.xml (EX-101.DEF) — 263KB
• ecvt-20240930_lab.xml (EX-101.LAB) — 681KB
• ecvt-20240930_pre.xml (EX-101.PRE) — 504KB
• ecvt-20240930_htm.xml (XML) — 1596KB

Financial Statements (Unaudited)

Financial Statements (Unaudited) Condensed Consolidated Statements of Income 3 Condensed Consolidated Statements of Comprehensive Income 4 Condensed Consolidated Balance Sheets 5 Condensed Consolidated Statements of Stockholders' Equity 6 Condensed Consolidated Statements of Cash Flows 8 Notes to Condensed Consolidated Financial Statements 9 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 30 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 48 Item 4.

Controls and Procedures

Controls and Procedures 48 PART II OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 48 Item 1A.

Risk Factors

Risk Factors 48 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 48 Item 5. Other Information 48 Item 6. Exhibits 49

SIGNATURES

SIGNATURES 50 2 Table of Contents

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

FINANCIAL STATEMENTS (UNAUDITED)

ITEM 1. FINANCIAL STATEMENTS (UNAUDITED) ECOVYST INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF INCOME (in thousands, except share and per share amounts) (unaudited) Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Sales $ 179,175 $ 173,326 $ 522,532 $ 518,310 Cost of goods sold 124,472 120,142 374,943 367,662 Gross profit 54,703 53,184 147,589 150,648 Selling, general and administrative expenses 19,950 16,945 64,260 59,460 Other operating expense, net 3,212 4,310 9,987 17,288 Operating income 31,541 31,929 73,342 73,900 Equity in net (income) from affiliated companies 922 ( 4,708 ) ( 2,543 ) ( 16,305 ) Interest expense, net 11,305 11,811 37,609 30,812 Debt extinguishment costs — — 4,560 — Other expense, net 566 361 1,193 543 Income before income taxes 18,748 24,465 32,523 58,850 Provision for income taxes 4,497 7,891 8,756 17,625 Net income $ 14,251 $ 16,574 $ 23,767 $ 41,225 Net income per share: Basic income per share $ 0.12 $ 0.14 $ 0.20 $ 0.35 Diluted income per share $ 0.12 $ 0.14 $ 0.20 $ 0.34 Weighted average shares outstanding: Basic 116,490,634 116,446,085 116,786,759 119,042,161 Diluted 117,187,054 117,374,347 117,425,254 120,417,132 See accompanying notes to condensed consolidated financial statements. 3 Table of Contents ECOVYST INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (in thousands) (unaudited) Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Net income $ 14,251 $ 16,574 $ 23,767 $ 41,225 Other comprehensive income (loss), net of tax: Pension and postretirement benefits 3 ( 213 ) 527 228 Net (loss) gain from hedging activities ( 11,654 ) 1,128 ( 8,865 ) ( 1,393 ) Foreign currency translation 6,403 ( 3,112 ) 4,040 ( 99 ) Total other comprehensive loss ( 5,248 ) ( 2,197 ) ( 4,298 ) ( 1,264 ) Comprehensive income $ 9,003 $ 14,377 $ 19,469 $ 39,961 See accompanying notes to condensed

View Full Filing

View this 10-Q filing on SEC EDGAR