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

Orion Engineered Carbons S.A. (NYSE: OEC) has announced a price increase for all rubber carbon black products in the EMEA region, effective August 1, 2021. The average increase will be €110 per ton, driven by rising operational, logistics, and environmental costs. Additionally, adjustments will be made to service surcharges and payment terms. This decision aims to ensure the company's reliability as a long-term supplier of high-quality products and services while adhering to sustainable manufacturing practices.

Orion Engineered Carbons (NYSE: OEC) has settled arbitration proceedings with Evonik Industries AG, resolving claims related to the U.S. Clean Air Act. Evonik will pay €66.55 million (approx. $79.3 million) to Orion, settling disputes over indemnity claims from the 2011 acquisition of Orion's carbon black business. The settlement concludes a nearly decade-long legal issue arising from historical environmental violations. This agreement also allows Orion to move forward without ongoing legal entanglements.

Orion Engineered Carbons (NYSE: OEC) has launched ECORAX® Nature, a new range of carbon black products for rubber applications, made from renewable plant-based oils. ECORAX® Nature 100, the first grade designed for tire tread construction, is currently being tested by customers and is expected to enter high-volume production in H2 2022. This initiative aims to reduce CO2 emissions in the tire supply chain, aligning with Orion's sustainability strategy. The product reflects the company's commitment to reliability and innovation in carbon black manufacturing.

Orion Engineered Carbons (NYSE: OEC) has received 12 awards from the International Carbon Black Association (ICBA) for its exemplary safety performance across its global operations in 2020. The recognition highlights Orion's commitment to safety, sustainability, and responsible business practices. The company operates 14 production sites and four R&D centers worldwide, maintaining robust safety systems and fostering a strong safety culture through training and reporting. This commitment to safety reflects Orion's core values and dedication to the well-being of its employees and surrounding communities.

Orion Engineered Carbons (NYSE: OEC) announced a necessary price increase of up to 20% for its specialty carbon black products, effective July 1, 2021, or as contracts allow. This decision comes in response to rising demand for specialty products and increasing global raw material and supply chain costs. CEO Corning Painter emphasized that the price hike will support the company in maintaining its status as a reliable supplier of high-quality products while ensuring sustainable manufacturing practices.

Orion Engineered Carbons S.A. (NYSE: OEC) reported a strong financial performance for Q1 2021, driven by a broad-based demand recovery. Net sales increased to $360.1 million, up from $336.0 million year-over-year, while net income rose to $23.5 million, a 30.5% increase. Basic EPS reached $0.39, reflecting a 9 cent increase year-over-year. Adjusted EBITDA was $70.9 million, up 11.0%, with margins improving to 19.7%. The company aims to complete EPA investments and generate strong free cash flow in 2023, positioning itself for continued growth.

Orion Engineered Carbons S.A. (NYSE: OEC) will announce its first quarter 2021 results post-market on May 6, 2021, followed by a conference call on May 7, 2021, at 8:30 a.m. (EDT). Investors can access the call via U.S. Toll Free 1-877-407-4018 or International 1-201-689-8471. A replay will be available through May 14, 2021. The conference ID is 13718443. For further details, visit www.orioncarbons.com.

Orion Engineered Carbons (NYSE: OEC) has announced a substantial donation to the Hutchinson County United Way to assist local residents affected by Winter Storm Uri. Operating a manufacturing facility in Borger, Texas, Orion aims to support the community it has been a part of for 93 years. The donation will fund various nonprofits addressing immediate needs in the area, showcasing Orion's commitment to community welfare and responsible business practices. The United Way focuses on education, health, and income, assessing ongoing human-service program needs.

Orion Engineered Carbons (NYSE: OEC) will hold its annual general meeting on June 24, 2021, at 2:00 PM CET in Luxembourg. Shareholders must register by April 29, 2021, at 11:59 PM CET. Due to COVID-19, the meeting will also be accessible virtually, allowing shareholders to participate and exercise their rights remotely. Orion specializes in producing various types of carbon black used in diverse industries, including automotive and coatings, and operates 14 production sites globally with a workforce of approximately 1,425.