Ecovyst Sees Q3 EPS $0.12-$0.18 Vs $0.29 Est.; Revises FY24 Revenue Guidance From $715M-$755M To $700M-$740M Vs $756.69M Est.; EPS $0.45-$0.63 Vs
$0.82 Est.
Portfolio Pulse from Benzinga Newsdesk
Ecovyst has revised its Q3 and FY24 financial guidance downward due to macro-economic headwinds, weather-related impacts, and industry trends. The company now expects Q3 EPS of $0.12-$0.18 vs. $0.29 estimated, and FY24 revenue of $700M-$740M vs. $756.69M estimated. Adjusted EBITDA for FY24 is revised to $230M-$245M from $255M-$275M.
August 01, 2024 | 11:31 am
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Ecovyst has revised its Q3 and FY24 financial guidance downward due to macro-economic headwinds, weather-related impacts, and industry trends. The company now expects Q3 EPS of $0.12-$0.18 vs. $0.29 estimated, and FY24 revenue of $700M-$740M vs. $756.69M estimated. Adjusted EBITDA for FY24 is revised to $230M-$245M from $255M-$275M.
The downward revision in both Q3 and FY24 guidance indicates weaker-than-expected financial performance, which is likely to negatively impact investor sentiment and the stock price in the short term. The company cites macro-economic headwinds, weather-related impacts, and industry trends as reasons for the revision.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100