Ecovyst Inc. (NYSE:ECVT) Q4 2023 Earnings Conference Call February 28, 2024 11:00 AM ET

Company Participants

Gene Shiels - Director of Investor Relations

Kurt Bitting - Chief Executive Officer

Michael Feehan - Chief Financial Officer

Conference Call Participants

Eric Zhang - Citi

Aleksey Yefremov - KeyBanc Capital

David Begleiter - Deutsche Bank

Hamed Khorsand - BWS Financial

David Silver - CL King

Operator

Good morning. My name is Bove [ph] and I will be your conference operator today. Welcome to Ecovyst Fourth Quarter 2023 Earnings Conference Call and Webcast. Please note today's call is being recorded and should run approximately 1 hour. [Operator Instructions]

Now, at this time, I will turn things over to Mr. Gene Shiels, Director of Investor Relations. Please go ahead, sir.

Gene Shiels

Thank you, operator. Good morning and welcome to the Ecovyst fourth quarter and full year 2023 earnings call. With me on the call this morning are Kurt Bitting, Ecovyst's Chief Executive Officer; and Mike Feehan, Ecovyst's Chief Financial Officer. Following our prepared remarks this morning, we'll take your questions.

Please note that some of the information shared today is forward-looking information, including information about the company's financial and operating performance strategies, our anticipated end-use demand trends and our 2024 financial outlook. This information is subject to risks and uncertainties that could cause the actual results and the implementation of the company's plans to vary materially. Any forward-looking information provided today speaks only as of this date. These risks are discussed in the company's filings with the SEC. Reconciliations of non-GAAP financial measures mentioned in today's call with their corresponding GAAP measures can be found in our earnings release and in presentation materials posted on the Investors section of our website at ecovyst.com.

I'll now turn the call over to Kurt Bitting. Kurt?

Kurt Bitting

Thank you, Gene and good morning. First, I want to thank my Ecovyst colleagues for delivering a strong finish to 2023. Despite the economic uncertainty and operational challenges that we faced last year, our Ecovyst colleagues remain dedicated to their core purpose of delivering high-quality products and reliable services to our valued customers.

Despite the macroeconomic uncertainty, relative stability and demand fundamentals across the majority of our end users for both Eco Services and Advanced Materials and Catalysts helped Ecovyst deliver solid financial results for the fourth quarter of 2023. High refinery utilization, favorable gasoline demand and the trend toward higher-octane and cleaner burning fuels continued to drive alkylate [ph] production in 2023, providing support for our regeneration services business where volume was up compared to the fourth quarter of 2023.