Reports Q3 revenue $204.9M, consensus $207.74M. “As a result of a comprehensive strategic review process, during the third quarter we announced the agreement to sell our Advanced Materials & Catalysts segment to Technip Energies for a purchase price of $556 million. The transaction is expected to close in the first quarter of 2026 and we anticipate using between $450 million and $500 million of the expected $530 million net proceeds to reduce our long-term debt, resulting in a projected net debt leverage ratio of below 1.5x,” said Mike Feehan, Ecovyst’s (ECVT) Chief Financial Officer. “The sale reflects our continued commitment to unlocking value for stockholders.”
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ECVT:
- ECVT Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- Ecovyst’s Strategic Transformation and Growth Potential Justifies Buy Rating
- Ecovyst downgraded to Neutral from Buy at Citi
- Ecovyst to sell advanced materials, catalysts segment to Technip Energies
- Ecovyst price target raised to $14 from $10 at BMO Capital