Ecovyst Q4 Sales Jump 34% to $199M, Guides $175–195M EBITDA
Fourth-quarter sales rose 34% to $199 million, boosting adjusted EBITDA 8% to $51 million and lifting full-year EBITDA to $172 million despite customer downtime. The $556 million divestiture of its AM&C segment and Waggaman acquisition bolstered liquidity, reducing net debt leverage to 1.2x ahead of 2026 guidance for $860–940 million in sales and $175–195 million in EBITDA.
1. Fourth-Quarter and Full-Year Financial Results
In the fourth quarter, Ecovyst achieved sales of $199 million, up 34% year-over-year, driven by higher virgin sulfuric acid volumes and favorable regeneration pricing. Adjusted EBITDA rose 8% to $51 million, contributing to a full-year adjusted EBITDA of $172 million despite unplanned customer downtime.
2. Portfolio Transformation and Balance Sheet Strength
Ecovyst completed the divestiture of its Advanced Materials & Catalysts segment for $556 million, using $465 million of proceeds to pay down the term loan. The transaction leaves the company with a net debt leverage ratio of approximately 1.2x and about $265 million of available liquidity.
3. 2026 Guidance and Investment Outlook
Management issued 2026 guidance calling for sales of $860–$940 million and adjusted EBITDA of $175–$195 million. Planned capital allocation includes $80–$90 million of capex, roughly $80 million in turnaround costs, and $25–$40 million of share repurchases in the first quarter.
4. Waggaman Asset Integration and Mining Demand
The 2025 acquisition of the Waggaman sulfuric acid assets added roughly 10% network volume and a deep-water dock for exports, enhancing Gulf Coast logistics. Ecovyst anticipates higher virgin acid volumes driven by mining demand and stable-to-favorable pricing for regenerated acid in 2026.