| Quarterly Financial Information |
The following tables summarize the Company’s quarterly financial results during the years ended December 31, 2022 and 2021:
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2022 |
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First
Quarter |
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Second
Quarter |
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Third
Quarter |
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Fourth
Quarter |
| Sales |
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$ |
179,714 |
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$ |
225,172 |
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$ |
232,533 |
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$ |
182,740 |
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| Gross profit |
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47,735 |
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59,859 |
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67,669 |
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|
49,367 |
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| Operating income |
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16,436 |
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27,411 |
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38,536 |
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22,002 |
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| Net income from continuing operations |
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7,875 |
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19,245 |
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21,325 |
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21,350 |
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| Net income from discontinued operations, net of tax |
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— |
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— |
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— |
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3,902 |
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| Net income |
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7,875 |
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19,245 |
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21,325 |
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25,252 |
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| Net income attributable to Ecovyst Inc. |
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7,875 |
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19,245 |
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21,325 |
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25,252 |
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| Earnings per common share - basic: |
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| Continued operations |
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$ |
0.06 |
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$ |
0.14 |
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$ |
0.16 |
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$ |
0.17 |
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| Discontinued operations |
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$ |
— |
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$ |
— |
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$ |
— |
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$ |
0.03 |
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| Net earnings per share - basic |
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$ |
0.06 |
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$ |
0.14 |
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$ |
0.16 |
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$ |
0.20 |
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| Earnings per common share - diluted: |
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| Continued operations |
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$ |
0.06 |
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$ |
0.14 |
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$ |
0.16 |
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$ |
0.17 |
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| Discontinued operations |
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$ |
— |
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$ |
— |
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$ |
— |
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$ |
0.03 |
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| Net earnings per share - diluted |
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$ |
0.06 |
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$ |
0.14 |
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$ |
0.16 |
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$ |
0.20 |
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| Weighted average shares outstanding: |
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| Basic |
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137,684,773 |
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138,035,764 |
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132,622,105 |
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125,962,111 |
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| Diluted |
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138,749,065 |
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139,149,560 |
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134,096,839 |
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127,538,343 |
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2021 |
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First
Quarter |
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Second
Quarter |
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Third
Quarter |
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Fourth
Quarter |
| Sales |
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$ |
126,624 |
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$ |
146,952 |
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$ |
167,428 |
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$ |
170,197 |
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| Gross profit |
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30,119 |
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38,473 |
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53,644 |
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54,425 |
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| Operating income |
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2,482 |
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11,652 |
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22,494 |
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17,979 |
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| Net (loss) income from continuing operations |
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(2,748) |
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(7,870) |
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4,689 |
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7,723 |
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| Net (loss) income from discontinued operations, net of tax |
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(89,770) |
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6,520 |
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(75,872) |
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17,712 |
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| Net (loss) income |
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(92,518) |
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(1,350) |
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(71,183) |
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25,435 |
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| Less: Net income attributable to the noncontrolling interest - discontinued operations |
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117 |
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140 |
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76 |
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— |
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| Net (loss) income attributable to Ecoyvst Inc. |
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(92,635) |
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(1,490) |
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(71,259) |
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25,435 |
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| (Loss) Earnings per common share - basic: |
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| Continuing operations |
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$ |
(0.02) |
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$ |
(0.06) |
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$ |
0.03 |
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$ |
0.06 |
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| Discontinued operations |
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$ |
(0.66) |
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$ |
0.05 |
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$ |
(0.56) |
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$ |
0.13 |
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| Net (loss) earnings per share - basic |
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$ |
(0.68) |
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$ |
(0.01) |
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$ |
(0.52) |
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$ |
0.19 |
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| (Loss) Earnings per common share - diluted: |
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| Continuing operations |
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$ |
(0.02) |
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$ |
(0.06) |
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$ |
0.03 |
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$ |
0.06 |
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| Discontinued operations |
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$ |
(0.66) |
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$ |
0.05 |
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$ |
(0.55) |
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$ |
0.13 |
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| Net (loss) earnings per share - diluted |
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$ |
(0.68) |
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$ |
(0.01) |
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$ |
(0.52) |
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$ |
0.18 |
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| Weighted average shares outstanding: |
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| Basic |
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136,006,082 |
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136,095,060 |
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136,129,591 |
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136,256,601 |
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| Diluted |
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136,006,082 |
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136,095,060 |
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137,354,427 |
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137,528,028 |
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