ECOVYST INC Reports 18.3% Decrease in Total Revenue for FY2023 Q2
August 9, 2023
🌥️Earnings Overview
ECOVYST INC ($NYSE:ECVT) reported their financial results for the second quarter of FY2023, ending on June 30 2023, showing total revenue of USD 184.1 million, a decrease of 18.3% year-over-year. Net income was reported to be USD 26.1 million, a growth of 35.9% compared to the same quarter in the preceding year.
Analysis
GoodWhale conducted an analysis of ECOVYST INC‘s wellbeing and found that according to Risk Rating, it is a medium risk investment in terms of financial and business aspects. During the analysis, GoodWhale detected two risk warnings in the income sheet and balance sheet. If you want to find out more about ECOVYST INC’s financial health, register with us to get an in-depth look at the company. We can provide you with an assessment of how their finances are doing and what areas could use improvement. With our analysis, you can make a well-informed decision about investing in ECOVYST INC. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Ecovyst Inc. More…
| Total Revenues | Net Income | Net Margin |
| 760.27 | 71.28 | 10.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Ecovyst Inc. More…
| Operations | Investing | Financing |
| 174.85 | -72.72 | -216.17 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Ecovyst Inc. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.81k | 1.15k | 5.74 |
Key Ratios Snapshot
Some of the financial key ratios for Ecovyst Inc are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -20.2% | -12.7% | 16.8% |
| FCF Margin | ROE | ROA |
| 13.5% | 11.9% | 4.4% |
Peers
The competition between Ecovyst Inc and its competitors is fierce. Each company is trying to gain an edge over the other in the market. They are all fighting for market share and customer loyalty. Its competitors are Ingevity Corp, NOF Corp, and Shikoku Chemicals Corp. All of these companies are trying to make a name for themselves in the eco-friendly market.
– Ingevity Corp ($NYSE:NGVT)
Ingevity Corporation is a publicly traded company with a market capitalization of $2.95 billion as of 2022. The company’s return on equity (ROE) is 32.18%. Ingevity is a leading provider of specialty chemicals and performance materials used in a variety of applications, including asphalt paving, coal mining, oil exploration, and packaging. The company’s products are essential to the quality and performance of its customers’ products and processes. Ingevity’s products are used in a wide range of applications, including asphalt paving, coal mining, oil exploration, and packaging.
– NOF Corp ($TSE:4403)
NOF Corp is a Japanese chemical company with a market cap of 469.95B as of 2022. The company has a Return on Equity of 12.07%. NOF Corp is involved in the production of chemicals, plastics, and other materials. The company has a wide variety of products, including adhesives, sealants, coatings, and more. NOF Corp is a large company with a long history and a strong financial position. The company is well-positioned to continue to grow and succeed in the future.
– Shikoku Chemicals Corp ($TSE:4099)
Shikoku Chemicals Corp is a Japanese company that manufactures and sells chemicals and related products. It has a market cap of 70.08B as of 2022 and a return on equity of 8.3%. The company’s products include plastics, resins, and other industrial chemicals. It also manufactures and sells pharmaceuticals, cosmetics, and food additives.
Summary
ECOVYST INC reported their financial results for FY2023 Q2, with total revenue decreasing 18.3% year-over-year to USD 184.1 million.
However, net income increased 35.9% to USD 26.1 million compared to the prior year. Despite this positive news, the stock price moved down on the same day, indicating investor sentiment is uncertain. To determine if this is an investment opportunity, investors should consider the company’s current earnings outlook, their future potential, the degree of competition in the industry, and any macroeconomic factors that could impact business performance.
Additionally, investors should pay close attention to any updates on the company’s financial performance.
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