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

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.

Orion Engineered Carbons S.A. (NYSE: OEC) reported solid third-quarter results for 2021, with net sales rising to $393.1 million, a 39.4% increase year-over-year. Net income reached $21.0 million, climbing 133.5% from last year, and basic EPS improved to $0.35. The company reinstated dividends while advancing key investments in emissions controls and Chinese expansion. Adjusted EBITDA also rose 20.8% to $66.4 million. However, the outlook indicates challenges with supply chain issues and inflation, leading to a tightened Adjusted EBITDA guidance of $265 million to $280 million.

Orion Engineered Carbons (NYSE: OEC) has declared an interim dividend of $1.25 million, translating to $0.02 per Common Share, scheduled for payment on January 12, 2022. Shareholders on record as of January 5, 2022 will receive the dividend, subject to a 15% Luxembourg withholding tax. CEO Corning Painter emphasized the company's focus on high-return investments while balancing capital structure and shareholder returns, aiming for growth and sustainability.

Orion Engineered Carbons (NYSE: OEC) announced a price increase for all specialty carbon black products, effective December 1, 2021. This decision comes in response to rising raw material, energy, and supply chain costs. CEO Corning Painter emphasized that the adjustment aims to uphold the company's commitment to providing reliable and sustainable solutions. The exact price increase will vary based on product type, manufacturing process, and location. Orion Engineered Carbons is a prominent supplier with over 125 years of experience in carbon black production.

Orion Engineered Carbons (NYSE: OEC) announced that Chief Financial Officer Lorin Crenshaw will leave for a leadership role at another company, remaining as an adviser until November 21, 2021. Bob Hrivnak has been appointed as Interim CFO, bringing over 30 years of financial leadership experience, including prior CFO roles. The company anticipates a smooth transition, having worked closely together for 18 months. Orion plans to release its Q3 2021 results after the market closes on November 4, 2021, followed by a conference call on November 5, 2021.

Orion Engineered Carbons (NYSE: OEC) will announce its Q3 2021 financial results on November 4, 2021, after market close. A conference call to discuss the results is scheduled for November 5, 2021, at 8:30 AM EST. Investors can join the call via U.S. toll-free number 1-877-407-4018 or international number 1-201-689-8471. A replay will be available until November 12, 2021. For further details, visit orioncarbons.com.

Orion Engineered Carbons (NYSE: OEC) announced a carbon dioxide (CO₂) surcharge on all carbon blacks produced in Europe, effective January 1, 2022. This decision aligns with the EU Emission Trading System, which aims for a 55% reduction in greenhouse gas emissions by 2030. The surcharge will enable Orion to maintain its reliability and sustainability in product manufacturing while addressing the additional costs imposed by the emissions trading system.

Orion Engineered Carbons (NYSE: OEC) announced participation in the Credit Suisse 34th Annual Virtual Basic Materials Conference on September 13, 2021. CEO Corning Painter and CFO Lorin Crenshaw will engage in one-on-one meetings, with Painter also hosting a fireside chat at 9:30 a.m. EDT. Interested parties can access the live webcast and replay through the company’s investor relations website.

Orion specializes in high-performance carbon black products, providing innovative solutions for various applications globally.