WAYNE, PA — Ecovyst (NYSE: ECVT) raised its 2026 earnings outlook after first-quarter sales climbed 50%, driven by stronger sulfuric acid demand, refinery activity, and contributions from recently acquired production assets.
The chemical producer reported first-quarter sales of $215 million for continuing operations, up from $143.1 million a year earlier, while adjusted EBITDA increased 87% to $39.8 million.
Net income totaled $5.7 million, compared with a net loss of $8.1 million during the same quarter in 2025.
The company attributed the gains to higher sulfuric acid pricing, stronger regeneration services demand tied to refinery utilization, and increased sales volumes from its Waggaman sulfuric acid assets acquired in 2025.
Chief Executive Officer Kurt J. Bitting described refinery demand and favorable pricing conditions as major contributors to the quarter’s performance.
“Regeneration services sales grew at a double digit pace, driven by high refinery utilization, favorable alkylate economics and lower customer downtime,” Bitting said in a statement.
Ecovyst completed the sale of its Advanced Materials & Catalysts business at the end of 2025, including its interests in Zeolyst International and Zeolyst C.V., with results from the divested segment now classified as discontinued operations.
The divestiture strengthened the company’s balance sheet and increased financial flexibility for expansion projects and acquisitions, according to management.
“In 2026, we are investing approximately $20 million in two projects to better serve our growing virgin sulfuric acid customer base,” Bitting stated.
Cash flow from continuing operations rose to $19.6 million during the quarter, up from $6.7 million a year earlier.
As of March 31, Ecovyst held $162.6 million in cash and cash equivalents and reported total available liquidity of $236.9 million, including borrowing capacity under its asset-backed lending facility.
The company repurchased approximately 3.2 million shares during the quarter for $35.7 million, representing an average purchase price of $11.07 per share.
Ecovyst increased its full-year sales guidance to between $890 million and $970 million, up from its prior range of $860 million to $940 million.
The company also revised adjusted EBITDA guidance upward to between $180 million and $195 million and projected adjusted free cash flow of $40 million to $55 million for 2026.
Management indicated it expects continued demand growth for regenerated sulfuric acid tied to refinery activity, while cautioning that some industrial end markets for virgin sulfuric acid could soften later in the year.
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