Ecovyst Inc (ECVT) stock plunged 5.31% in the pre-market trading session on Thursday, February 27, 2025, following the company's Q4 and full-year 2024 results announcement.
Despite meeting analysts' expectations for Q4 2024 with adjusted EBITDA of $75.9 million (vs estimate of $71.4 million) and adjusted net income of $33 million (vs estimate of $28.3 million), Ecovyst reported a net loss of $30.5 million in the quarter. This was primarily due to a non-cash impairment charge of $65 million on its investment in the Zeolyst Joint Venture, reflecting the demand outlook for emission control and sustainable fuel catalysts.
For the full year 2024, Ecovyst reported a net loss of $6.7 million, even as it delivered sales of $704.5 million, adjusted EBITDA of $238.2 million, and adjusted net income of $68.6 million. The Zeolyst Joint Venture impairment charge was a key factor behind the reported net losses.
Comments