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Ecovyst Reports Fourth Quarter and Full Year 2025 Results

ECVT
  • Ecovyst Inc. reported fourth quarter and full-year 2025 financial results for continuing operations, excluding the divested Advanced Materials & Catalysts business.
  • The company completed the sale of its Advanced Materials & Catalysts segment to Technip Energies N.V. for $556 million.
  • Net proceeds of $465 million from the divestiture were utilized to pay down Term Loan debt, resulting in a year-end net debt leverage ratio of 1.2x.
  • Fourth quarter 2025 sales reached $199.4 million, a 33.9% increase from $148.9 million in the prior year quarter, driven by higher virgin sulfuric acid volumes & favorable pricing.
  • Q4 2025 net income from continuing operations was $9.2 million ($0.08 per share), down from $23.8 million in Q4 2024.
  • Q4 2025 Adjusted Net Income was $32.4 million ($0.28 per share), compared to $18.4 million in the prior year quarter.
  • Q4 2025 Adjusted EBITDA was $51.3 million, up 7.5% to $51.3 million from $47.7 million in the prior year quarter, with a margin of 25.7%.
  • Full-year 2025 sales were $723.5 million, up 20.9% from $598.3 million in 2024, attributed to higher average selling prices & sales volume.
  • Full-year 2025 Adjusted EBITDA was $172.0 million, slightly down 0.4% from $172.7 million in 2024, as higher sales were offset by increased manufacturing & maintenance costs.
  • The company acquired Waggaman, Louisiana sulfuric acid production assets for $41 million to enhance its Gulf Coast network.
  • Ecovyst repurchased 5,752,285 shares of common stock in 2025 for a total cost of $47.4 million, with $20.0 million repurchased in Q4 alone.
  • Full-year 2025 net cash from operations for continuing operations was $118.1 million, with Adjusted Free Cash Flow of $78.1 million.
  • As of December 31, 2025, the company held $197.2 million in cash & cash equivalents, $67.6 million in ABL facility availability, & total liquidity of $264.8 million.
  • For 2026, the company anticipates high refinery utilization & strong mining demand to support growth in regenerated & virgin sulfuric acid sales.
  • 2026 financial guidance includes sales of $860 million to $940 million & Adjusted EBITDA of $175 million to $195 million.
  • 2026 Adjusted Net Income is projected between $55 million & $75 million, with Adjusted Diluted Income per share of $0.45 to $0.65.
  • The company expects 2026 capital expenditures to range from $80 million to $90 million & effective tax rates in the mid-20% range.
  • The Board removed the expiration date from the stock repurchase program, leaving $182.2 million available as of year-end 2025.
  • A conference call to review these results is scheduled for February 26, 2026, at 11:00 a.m. Eastern Time.