Annual report pursuant to Section 13 and 15(d)

Quarterly Financial Summary (Unaudited)

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Quarterly Financial Summary (Unaudited)
12 Months Ended
Dec. 31, 2022
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Summary (Unaudited)
27. Quarterly Financial Summary (Unaudited):
The quarterly financial data is presented for each quarter of the two most recent fiscal years to reflect the material retrospective change in 2021, which was previously disclosed in 2021, to reflect the sale of the Performance Chemicals business as discontinued operations. See Note 5 of these consolidated financial statements for further discussion on the transaction.
The following tables summarize the Company’s quarterly financial results during the years ended December 31, 2022 and 2021:
2022
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
Sales $ 179,714  $ 225,172  $ 232,533  $ 182,740 
Gross profit 47,735  59,859  67,669  49,367 
Operating income 16,436  27,411  38,536  22,002 
Net income from continuing operations 7,875  19,245  21,325  21,350 
Net income from discontinued operations, net of tax —  —  —  3,902 
Net income 7,875  19,245  21,325  25,252 
Net income attributable to Ecovyst Inc. 7,875  19,245  21,325  25,252 
Earnings per common share - basic:
Continued operations $ 0.06  $ 0.14  $ 0.16  $ 0.17 
Discontinued operations $ —  $ —  $ —  $ 0.03 
Net earnings per share - basic $ 0.06  $ 0.14  $ 0.16  $ 0.20 
Earnings per common share - diluted:
Continued operations $ 0.06  $ 0.14  $ 0.16  $ 0.17 
Discontinued operations $ —  $ —  $ —  $ 0.03 
Net earnings per share - diluted $ 0.06  $ 0.14  $ 0.16  $ 0.20 
Weighted average shares outstanding:
Basic 137,684,773  138,035,764  132,622,105  125,962,111 
Diluted 138,749,065  139,149,560  134,096,839  127,538,343 
2021
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
Sales $ 126,624  $ 146,952  $ 167,428  $ 170,197 
Gross profit 30,119  38,473  53,644  54,425 
Operating income 2,482  11,652  22,494  17,979 
Net (loss) income from continuing operations (2,748) (7,870) 4,689  7,723 
Net (loss) income from discontinued operations, net of tax (89,770) 6,520  (75,872) 17,712 
Net (loss) income (92,518) (1,350) (71,183) 25,435 
Less: Net income attributable to the noncontrolling interest - discontinued operations 117  140  76  — 
Net (loss) income attributable to Ecoyvst Inc. (92,635) (1,490) (71,259) 25,435 
(Loss) Earnings per common share - basic:
Continuing operations $ (0.02) $ (0.06) $ 0.03  $ 0.06 
Discontinued operations $ (0.66) $ 0.05  $ (0.56) $ 0.13 
Net (loss) earnings per share - basic $ (0.68) $ (0.01) $ (0.52) $ 0.19 
(Loss) Earnings per common share - diluted:
Continuing operations $ (0.02) $ (0.06) $ 0.03  $ 0.06 
Discontinued operations $ (0.66) $ 0.05  $ (0.55) $ 0.13 
Net (loss) earnings per share - diluted $ (0.68) $ (0.01) $ (0.52) $ 0.18 
Weighted average shares outstanding:
Basic 136,006,082  136,095,060  136,129,591  136,256,601 
Diluted 136,006,082  136,095,060  137,354,427  137,528,028