Welcome to our dedicated page for Orion Engineered Carbons news (Ticker: OEC), a resource for investors and traders seeking the latest updates and insights on Orion Engineered Carbons stock.
Orion S.A. reports news as a global specialty chemicals company focused on carbon black, a solid form of carbon supplied as powder or pellets for tires, coatings, ink, batteries, plastics and other performance applications. Updates commonly address its Specialty Carbon Black and Rubber Carbon Black businesses, including demand trends, oil-linked pricing pass-throughs, feedstock and energy costs, surcharges, production optimization and customer supply conditions.
Company announcements also cover quarterly and annual earnings, adjusted EBITDA outlook changes, cash flow, working-capital actions, interim dividends, annual general meeting matters and investor conference participation. Orion operates carbon black production sites worldwide and maintains innovation centers that support application development across rubber reinforcement, pigments, conductive additives, durability and UV-protection uses.
Orion Engineered Carbons (NYSE: OEC) reported its financial results for Q4 and full year 2022, highlighting net sales of $2,030.9 million, a 31% increase year-over-year, but a net income decline to $106.2 million. Key metrics included a diluted EPS of $1.73, down $0.48 from last year due to a prior Evonik cash settlement. The fourth quarter saw net sales rise 17.7% to $462.1 million and a net income increase of 1009.1% to $12.2 million. The company anticipates 2023 Adjusted EBITDA between $350 million and $380 million, and an Adjusted EPS of $2.30 to $2.60.
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Orion Engineered Carbons (NYSE: OEC) announced a $60 million project to significantly reduce air emissions at its Borger, Texas plant. This upgrade, part of the company's sustainability initiatives, will cut nitrogen oxide and sulfur dioxide emissions by 90%, eliminating 23 tons per day. The project also enhances the plant's cogeneration system, allowing for electricity generation from the carbon black production process, which will enhance energy efficiency and potential revenue through grid sales. Orion has also upgraded its emissions control technology in additional U.S. facilities and anticipates increased free cash flow for future growth investments.
Orion Engineered Carbons (NYSE: OEC) will announce its full year and fourth quarter 2022 results on February 16, 2023, after market close. A conference call is scheduled for February 17, 2023, at 8:30 a.m. (EST) to discuss these results. Investors can dial in using U.S. Toll Free: 1-877-407-4018 or International: 1-201-689-8471. A replay will be available until February 24, 2023. Orion specializes in carbon black production for diverse applications, with a strong commitment to innovation and sustainability. The company has a legacy of over 160 years in the industry and operates 14 plants globally.
Orion Engineered Carbons (NYSE: OEC) announced a significant upgrade to a ‘B’ score from CDP, recognizing its effective environmental management and commitment to climate initiatives. This marks a progression from a previous ‘C’ score, indicating improved accountability. CEO Corning Painter emphasized the company's dedication to transparency in climate reporting. Earlier this year, Orion was also elevated from a ‘Silver’ to ‘Gold’ designation by EcoVadis, placing it in the top 3% of sustainability performers globally.
Orion Engineered Carbons (NYSE: OEC) has announced a new share repurchase program, authorizing the purchase of up to $50 million of its outstanding common stock. The Board's decision reflects a commitment to driving long-term shareholder value amidst favorable macroeconomic conditions. CEO Corning Painter emphasized the company's improving discretionary cash flow and the intent to strategically invest for growth, indicating that current market valuations do not fully reflect the company's potential. Stock repurchases will occur depending on market conditions and other considerations.
Orion Engineered Carbons (NYSE: OEC) reported third-quarter 2022 results, showcasing significant growth in financial metrics. Net sales rose to $543.1 million, up 38.2% year over year, with net income at $31.8 million and diluted EPS of $0.52. Adjusted EBITDA increased to $80.5 million, marking a 21.2% rise. The growth was driven primarily by strong performance in the Rubber Carbon Black segment. The company is optimistic about continued growth in 2023 with improved pricing and operational efficiencies.
Orion Engineered Carbons (NYSE: OEC) has achieved a significant sustainability milestone by becoming the first company to receive ISCC Plus certification for various carbon black grades produced from different feedstocks at multiple global plants. This certification validates the company's commitment to high sustainability standards and enhances transparency in its value chain. Products certified include ECORAX® Circular grades from Texas and Ohio and ECORAX® Nature 200 from Poland. Orion’s sustainable solutions position it as a leader in the industry, furthering its innovation towards a circular economy for tires.
Orion Engineered Carbons (NYSE: OEC) will release its third quarter 2022 results on November 3, 2022, followed by a conference call on November 4, 2022, at 8:30 a.m. (EDT). Interested parties can dial in at 1-877-407-4018 (U.S. Toll Free) or 1-201-689-8471 (International). A replay will be available through November 11, 2022. Orion specializes in carbon black, serving various industries worldwide with innovative solutions.
Orion Engineered Carbons (NYSE: OEC) has announced an interim dividend of $0.0207 per share, totaling approximately $1.25 million, to be paid on January 10, 2023. This payment is for shareholders on record as of January 3, 2023, with a 15% Luxembourg withholding tax applicable. Orion specializes in carbon black, serving various industries including tires and coatings, and maintains a robust global footprint with innovation centers and 14 production plants worldwide.