What were the key takeaways from Ecovyst’s earnings call?

What guidance did Ecovyst's management provide for the next earnings period?

What is Ecovyst's gross profit margin?

What is Ecovyst's latest dividend and current dividend yield?

Did Ecovyst beat or miss consensus estimates last quarter?

What is the revenue and EPS growth rate for Ecovyst year over year?

What is the market's earnings forecast for Ecovyst next quarter?

What were the key takeaways from Ecovyst's earnings call?

- **$556M AM&C Divestiture**: Reduces debt to <1.5x, freeing $450M for growth and buybacks.
- **2025 Financials**: EBITDA $170M, free cash flow $75M-$85M, 18% EBITDA growth.
- **2026 Outlook**: Higher regeneration volumes, mining demand, 20%+ sulfuric acid growth.
- **Key Trends**: Sulfur pricing up 25%, Waggaman plant adding $9M EBITDA, nylon demand stable.
- **Share Buybacks**: $20M Q4 target, $450M program with $200M remaining capacity.

**【Management Opening Remarks】**
- Announced sale of advanced materials and catalysts (AM&C) segment to Technip Energies for $556M, with net proceeds of ~$530M. 
- Plans to reduce debt by $450M-$500M, targeting net leverage <1.5x post-transaction.
- Expanded $450M stock buyback program (remaining capacity $200M), with $20M repurchase target for Q4 2025.

**【CEO Kurt Bitting Commentary】**
- Divestiture enables focus on core ecoservices business (regeneration services, virgin sulfuric acid).
- 2025 outlook: Sales $700M-$740M (+33% YoY), EBITDA $170M, free cash flow $75M-$85M.
- 2026 expectations: Higher regeneration volumes, mining demand growth, Waggaman plant synergies.
- Capital allocation priorities: Organic growth projects, inorganic acquisitions, share buybacks.

**【CFO Michael Feehan Financial Update】**
- Q3 2025 continuing ops: Sales $205M (+33% YoY), EBITDA $58M (+18%), free cash flow $42M.
- Key drivers: Virgin acid volume growth (+25%), favorable sulfur pricing pass-through, Waggaman integration.
- 2025 guidance: EBITDA $170M, free cash flow $75M-$85M.
- 2026 outlook: Lower interest expense ($21M-$25M vs $32M-$34M), stable tax rate ~20%.

**【Q&A Highlights】**
- **Capital Allocation**: 50% of proceeds for debt reduction, rest for growth and buybacks. 
- **Pricing Momentum**: Regeneration services pricing up 18%, virgin acid mining demand strong.
- **Waggaman Synergies**: $9M EBITDA contribution from contract repricing, network effects.
- **Leverage Target**: Long-term 2.0-2.5x, current <1.5x post-transaction.
- **Mining Growth**: 20%+ of virgin acid sales, copper demand driving expansion projects.


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