Ecovyst (ECVT) Q3 2026 earnings summary

Executive summary

• Q3 continuing-operations sales rose 50.6% YoY to $308.6M; Adjusted EBITDA increased 6.4% to $61.2M, above the high end of guidance.

• FY2026 Adjusted EBITDA guidance rose by $9M at the midpoint to $208M–$212M; the increase reflects the outlook and a Q4 turnaround deferred to early 2027.

Financial highlights

• Q3 continuing-operations net income was $18.4M vs. $0.2M; diluted EPS was $0.17.

• 9M sales rose 47.6% to $773.6M; Adjusted EBITDA increased 27.8% to $154.2M, and continuing-operations net income was $34.8M vs. a $2.9M loss.

• Q3 sales growth reflected $72.6M of higher average selling prices and $31.1M of higher volume; sulfur-cost pass-through contributed ~$67M.

• Q3 Adjusted EBITDA benefited from $15M of higher volume and $5M of net pricing, partly offset by manufacturing, turnaround, employee and fixed-cost absorption pressures.

• YTD Adjusted Free Cash Flow was $32.4M vs. $42.4M; operating cash flow from continuing operations was $80.7M vs. $77.0M.

Outlook and guidance

• FY2026 guidance: sales $1.05B–$1.07B, Adjusted EBITDA $208M–$212M and Adjusted Free Cash Flow $50M–$60M; sales assumes ~$220M of sulfur-cost pass-through.

• FY2026 Adjusted Net Income guidance is $70M–$85M, or $0.63–$0.77 per diluted share; capex is $90M–$95M.

• FY2026 Adjusted EBITDA guidance includes $5M–$6M of Calabrian contribution in Q4; excluding the ~$3M turnaround deferral benefit, the guidance increase is 3%.

• Q4 Adjusted EBITDA is expected at $54M–$58M; regenerated acid volume is expected to rise YoY, virgin acid volume to fall, with no material turnaround costs expected.