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 S.A. (NYSE: OEC) reported Q3 2020 net sales of $282 million, down 23.8% from $370.2 million in Q3 2019, primarily due to lower feedstock costs and COVID-19-related demand reduction. Net income fell 62.9% year-over-year to $9 million, with basic EPS of $0.15 compared to $0.40 in 2019. Adjusted EBITDA decreased by 19.2% to $55 million. The rubber business recovered to 91% of prior levels, while specialty carbon black saw a 97% recovery. The company projects Q4 Adjusted EBITDA between $44 million and $54 million despite economic uncertainties.
Orion Engineered Carbons S.A. (NYSE: OEC) announced that CEO Corning Painter and CFO Lorin Crenshaw will present at Baird’s Global Industrial Conference on November 12, 2020, at 11:25 am EST. They will also engage in virtual one-on-one meetings during the event. Orion is a leading global supplier of specialty and high-performance carbon black, operating 14 production sites worldwide with approximately 1,425 employees. The company produces various carbon blacks used in polymers, paints, coatings, and mechanical goods.
Orion Engineered Carbons S.A. (NYSE: OEC) has funded The Eco Schools Project in South Africa, aimed at enhancing teaching methods related to climate change education. This initiative supports teachers and students in developing critical thinking and problem-solving skills for a sustainable future. CEO Corning Painter highlighted the company’s commitment to sustainability and community engagement. Orion's funding is benefiting ten schools, promoting environmental awareness and education, supported by WESSA, a South African environmental organization.
Orion Engineered Carbons S.A. (NYSE: OEC) has upgraded its Borger, Texas facility to operate independently from the electrical grid, additionally supplying power back to the grid. This upgrade allows the plant to meet its own energy demands while generating enough electricity to power over 4,000 local homes. CEO Corning Painter stated that this cogeneration initiative significantly reduces energy consumption and aligns with the company's sustainability objectives, enhancing plant reliability.
Orion Engineered Carbons S.A. (NYSE: OEC) will release its third quarter 2020 results post-market on November 5, 2020. A conference call is scheduled for November 6, 2020, at 8:30 a.m. EST. The call can be accessed via various toll-free numbers across the U.S., U.K., Germany, and Luxembourg. An archived webcast will also be available on the company's website.
Orion is a global supplier of carbon black, operating 14 production sites and employing approximately 1,425 staff.