Ecovyst

Q2 FY2026 EarningsQ2 FY26 results beat consensus across the board, with revenue of $250.0M exceeding expectations by 5.55% and Adjusted EBITDA growing 26.7% YoY. Despite a gross margin of 19.9% (vs. 23.7% expected) due to sulfur cost pass-through effects, GAAP EPS of $0.10 significantly outperformed the $0.07 implied GAAP net income mean, driven by robust refinery utilization and the Waggaman asset contribution. The acquisition of Calabrian on June 30, 2026, and a $100M term loan expansion signal aggressive growth in sulfur derivatives, though discontinued operations impacted bottom-line GAAP results.