Ecovyst Inc. (NYSE:ECVT) Q2 2024 Earnings Conference Call August 1, 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

Alex Yefremov - KeyBanc Capital Markets
Patrick Cunningham - Citi
Laurence Alexander - Jefferies
Hamed Khorsand - BWS Financial
David Silver - CL King

Operator

Good morning. My name is Madison [ph] and I will be your conference operator today. Welcome to the Ecovyst Second Quarter 2024 Earnings Call and Webcast. Please note, today's call is being recorded and should run approximately one hour. Currently, all participants have been placed in a listen-only mode to prevent any background noise. After the speakers’ remarks, there will be a question-and-answer period. [Operator Instructions]

I would now like to hand the conference over to Gene Shiels, Director of Investor Relations. Please go ahead.

Gene Shiels

Thank you, operator. Good morning and welcome to Ecovyst second quarter 2024 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 shared 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 the presentation, materials posted on the Investors section of our website @ecovyst.com.

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

Kurt Bitting

Thank you, Gene and good morning. Overall, we are pleased with our results for the second quarter of 2024. We delivered financial results above our forecast and we made solid progress on a number of strategic initiatives.

During the quarter, we continued to see strong demand for regeneration services supported by high refinery utilization and favorable economics for alkylate with regeneration volume up compared to the second quarter of 2023. The Sales volume was also look for virgin sulfuric acid and treatment services compared to the year ago quarter. And in our Advanced Materials and Catalysts segment, sales of advanced silicone increased compared to the second quarter of 2023 on higher sales of chemical catalysts. However, during the quarter, we saw lower sales of catalyst materials used in the production of sustainable fuels & emission control applications. All in, for the second quarter, we delivered adjusted EBITDA of $57 million.