11:29 AM EDT, 08/01/2024 (MT Newswires) -- Ecovyst ( ECVT ) shares were down more than 13% in recent Thursday trading after the company reported declines in Q2 adjusted earnings and sales and cut its full-year 2024 sales outlook.

The company posted earlier Q2 adjusted earnings of $0.12 per diluted share, down from $0.29 a year earlier. Analysts polled by Capital IQ expected $0.13.

Sales for the quarter ended June 30 were $182.8 million, down from $184.1 million a year earlier. Analysts surveyed by Capital IQ expected $183.6 million.

The company said it expects Q3 adjusted EPS of $0.12 to $0.18. One analyst surveyed by Capital IQ expects $0.26.

Ecovyst ( ECVT ) said it expects 2024 adjusted EPS of $0.45 to $0.63. Two analysts polled by Capital IQ expect $0.72. The company reduced its sales guidance for the year to a range of $700 million to $740 million from $715 million to $755 million previously. Analysts polled by Capital IQ are looking for $735.6 million.

Price: 8.29, Change: -1.25, Percent Change: -13.10