Ecovyst Inc. (NYSE:ECVT) Q3 2024 Earnings Conference Call October 31, 2024 11:00 AM ET

Company Participants

Gene Shiels - Director, Investor Relations
Kurt Bitting - Chief Executive Officer
Mike Feehan - Chief Financial Officer

Conference Call Participants

Patrick Cunningham - Citi
David Begleiter - Deutsche Bank
Aleksey Yefremov - KeyBanc Capital Markets
John McNulty - BMO Capital Markets
Kevin Estok - Jefferies
Hamed Khorsand - BWS Financial

Operator

Good morning. My name is Jim and I will be your conference operator today. Welcome to the Ecovyst Third Quarter 2024 Earnings Call and Webcast. Please note today's conference 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 turn the conference over to Gene Shields, Director of Investor Relations. Please go ahead sir.

Gene Shiels

Thank you, Jim. Good morning and welcome to Ecovyst third 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 this morning's call with their corresponding GAAP measures can be found in our earnings release and in the presentation materials posted in the Investors section of our website at ecovyst.com.

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

Kurt Bitting

Thank you, Gene and good morning. Against the backdrop of a challenging macroeconomic environment, Ecovyst's third quarter financial results were in line with our overall expectations.

Our Ecoservices segment continued to exhibit resilience with positive demand fundamentals, contributing to another quarter of solid performance. During the quarter, high refinery utilization and attractive alkylate economics continued to support demand in our Regeneration Services business, where contractual pricing increases contributed positively to the segment profitability in the quarter.