Orion Engineered Carbons S.A. Stock Price, News & Analysis

Orion Engineered Carbons (NYSE:OEC) has launched the first new reactor for carbon black production in over 40 years in the European Union, located at its Ravenna plant in Italy. This state-of-the-art 25-kiloton line primarily serves the specialty and technical rubber carbon black markets in Europe. Additionally, Orion is investing in a co-generation facility to convert waste heat into electricity, producing up to 120 MWh of green electricity annually, benefiting the national grid and 30,000 households.

Orion Engineered Carbons (NYSE:OEC) announced a price increase for all specialty carbon black products, effective April 1, 2022. This decision is in response to rising raw material, operational, and supply chain costs. CEO Corning Painter emphasized that the adjustment is essential for maintaining sustainable solutions for customers. The specifics of the increase will be communicated individually, varying by product, manufacturing process, and location. Orion aims to continue its commitment to quality while adapting to challenging market conditions.

Orion Engineered Carbons (NYSE:OEC) will hold its 2022 annual general meeting of shareholders on June 30, 2022, at 2:00 PM CET at its Luxembourg office. The record date for shareholders is set for April 28, 2022. Shareholders can attend virtually and exercise rights in advance through remote communication. Orion, a leading supplier of carbon black, offers a diverse range of products for various industries including tires and coatings, supported by innovation centers and 14 production plants worldwide.

Orion Engineered Carbons (NYSE:OEC) announced an interim dividend of $0.0207 per common share, totaling approximately $1.25 million. This dividend will be paid on April 6, 2022, to shareholders on record as of March 29, 2022. A 15% withholding tax will apply, subject to certain exemptions. Orion is a leading supplier of specialty carbon black, with a history spanning over 160 years and innovation centers across three continents.

Orion Engineered Carbons S.A. (NYSE: OEC) reported its 2021 financial results with notable highlights. Net sales for the year reached $1,546.8 million, up $410.4 million from 2020. Net income also rose to $134.7 million, marking an increase of $116.5 million. However, the fourth quarter saw a decline in net income to $1.1 million, down 87.6% year-over-year. Despite challenges from supply chain disruptions, the company announced a dividend reinstatement and robust guidance for 2022, expecting Adjusted EBITDA between $300 million and $325 million.

Orion Engineered Carbons has appointed Jeffrey Glajch as the new chief financial officer, effective April 18, 2022. He succeeds Bob Hrivnak, who will continue as chief accounting officer. Glajch brings over 30 years of experience, most recently serving as CFO at Graham Corporation (NYSE: GHM) for 13 years. CEO Corning Painter expressed confidence in Glajch's ability to drive growth and provide strong financial leadership. The company will also release its full year 2021 results on February 17, 2022, followed by a conference call on February 18.

Orion Engineered Carbons (NYSE: OEC) will release its full-year 2021 results on February 17, 2022, after market closure, with a follow-up conference call on February 18 at 8:30 a.m. EST. Investors can access the dial-in numbers and a live webcast for the event. The company specializes in high-performance carbon black products used in various industries, boasting over 125 years of experience and a global production network of 14 sites. Focused on innovation and sustainability, Orion provides solutions for polymers, paints, inks, and more.

Orion Engineered Carbons (NYSE: OEC), a global carbon black supplier, has joined the U.N. Global Compact, enhancing its commitment to sustainability. The CEO, Corning Painter, emphasized the company's long-standing support for the pact's principles, focusing on human rights, labor, anti-corruption, and environmental practices. This initiative aims to foster a network of sustainable companies worldwide. Orion has over 125 years of experience in custom solutions across 14 global production sites, dedicated to responsible business practices and innovation.

Orion Engineered Carbons (NYSE: OEC) will invest in converting a reactor line at its Ivanhoe, La., plant to increase hard carbon black production by 30,000 tons annually by mid-2022. This strategic move aims to meet the growing demand for hard carbon black due to onshoring tire production in the U.S. The company will reduce soft carbon black production by an equal amount, enhancing the supply chain for automotive tires.