BWS Financial Inc

BWS provides independent stock specific research focused on companies with distinct value that are going through a special situation where there is a tangible catalyst not priced in. The catalyst can be anything from new product, restructuring, M&A, management change, change in business strategy, etc. BWS’s focus is to understand the change and evaluate the potential return for investors.

BWS utilizes a self formed proprietary approach in discovering stocks by putting great emphasis on deep research. BWS does generate short recommendations following a similar criteria.

Independent Stock Specific Research

ECVT: Another Pushout in Story, PT to $12

ECVT: Rearranging the Year, Not Cash Flow

Founder, BWS Financial Inc

Hamed Khorsand

Founder

Equity Bottom-Up

<ul>
<li>ECVT reported first quarter results exhibiting the ability to generate free cash flow during a seasonally slow period of the year. ECVT grew its cash balance by approximately $14.7 million.</li>
<li>ECVT’s management has yet to change its tune regarding the outlook for the year with expectations there would be pockets of softness</li>
<li>ECVT reported adjusted EBITDA of $45.5 million compared to our forecast of $46 million. ECVT is expected to show sequential improvement from first quarter levels</li>
</ul>


ECVT reported first quarter results exhibiting the ability to generate free cash flow during a seasonally slow period of the year. ECVT grew its cash balance by approximately $14.7 million.
ECVT’s management has yet to change its tune regarding the outlook for the year with expectations there would be pockets of softness
ECVT reported adjusted EBITDA of $45.5 million compared to our forecast of $46 million. ECVT is expected to show sequential improvement from first quarter levels


Ecovyst

ECVT: Cash Balance Growing While Waiting