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

Orion S.A. (NYSE: OEC) reported its Q4 and full-year 2024 financial results. For Q4 2024, net sales decreased 7.3% to $434.2 million, while net income increased by $12.3 million to $17.2 million. Full-year 2024 showed net sales of $1,877.5 million (down 0.9%) and net income of $44.2 million (down $59.3 million).

The company maintained rubber profitability despite soft demand, while specialty segment showed 11% year-over-year volume growth. Orion repurchased approximately 2% of outstanding shares in 2024. The company faced challenges including soft Western tire production levels and foreign exchange headwinds.

Notable incidents included a criminal scheme resulting in $55.7 million in fraudulent wire transfers. For 2025, Orion provided Adjusted EBITDA guidance of $290-330 million and Adjusted EPS guidance of $1.45-1.90.

Orion S.A. (NYSE: OEC) has signed a long-term supply agreement with Contec S.A. for tire pyrolysis oil (TPO) to produce circular carbon black for tire and rubber goods customers. The partnership with Warsaw-based Contec helps Orion diversify its TPO sources.

TPO-based manufacturing represents the only circular technology advancing to industrial production for high-quality active carbon black. The process involves exposing end-of-life tires to high temperatures to create feedstock for virgin carbon black production. Notably, Orion stands as the sole company that has produced circular carbon black using 100% TPO feedstock, demonstrating that their circular products can substitute virgin carbon black in various applications.

Orion S.A. (NYSE: OEC) announced preliminary unaudited financial results for FY2024, expecting adjusted EBITDA to fall slightly below the guided range of $305-$315 million. The shortfall is attributed to multiple factors: foreign exchange impacts from a strengthening dollar, one-time costs from a workforce reduction plan, weaker Rubber segment volumes in Q4, and less favorable Specialty segment mix.

The company has initiated a cost reduction plan, reducing non-plant workforce by ~6%, which is expected to yield approximately $6 million in annualized cost savings in 2025. Management attributes the Rubber segment weakness to pressure on Western tire production due to elevated imports from Southeast Asia and China, along with year-end inventory adjustments from key customers.

Despite these challenges, Orion expects modest growth in 2025, building on structurally improved returns. The company will report Q4 and full-year 2024 results after market close on February 19, 2025.

Orion S.A. (NYSE: OEC) has announced its participation in the upcoming Baird Global Industrial Conference in Chicago on November 14. The company's leadership team, including CEO Corning Painter, CFO Jeff Glajch, and VP of Investor Relations Chris Kapsch, will attend the event. Painter is scheduled to deliver a presentation from 10:50 AM to 11:20 AM CST. Interested parties can access the presentation through the 'Events and Presentations' section on Orion's investor relations website.

Orion S.A. (NYSE: OEC) reported Q3 2024 financial results with net sales of $463.4 million, down $2.8 million year over year. The company reported a net loss of $20.2 million, including a $42.5 million impact from asset misappropriation. Adjusted EBITDA increased 4% to $80.1 million, while volume decreased 8.2% to 225.2 kmt. The company revised its 2024 guidance to an Adjusted EBITDA range of $305-315 million and Adjusted Diluted EPS of $1.65-1.75. Free cash flow is expected to be negative $35 million before fraud impact.

Orion S.A. (NYSE: OEC) has announced a price increase for all Specialty carbon black grades manufactured in Europe and NEROX® products made in South Korea. The price adjustments, effective January 1, 2025, will vary by product, manufacturing process, and location. The company cites rising feedstock and operations costs as drivers for the increase. CEO Corning Painter states the move will ensure continued supply of high-quality Specialty products and enable new product development to support global customers.

Orion S.A. (NYSE: OEC), a global specialty chemicals manufacturer, has appointed Natalia Scherbakoff as its new chief technology officer. She succeeds David Deters, who is retiring after leading Orion's global innovation program for nearly a decade. Scherbakoff joins from Trinseo, where she was vice president of Technology & Innovation, focusing on sustainability and circular solutions.

Scherbakoff brings extensive global experience in product development and commercialization. She will be based at Orion's main innovation hub in Cologne, Germany, overseeing technical centers in China, South Korea, and the U.S. Her role includes leveraging the new Battery Innovation Center in Cologne and overseeing a €12.8 million investment in developing climate-neutral carbon black production from alternative carbon sources.

Orion S.A. (NYSE: OEC), a specialty chemical company, has announced the release date for its third quarter 2024 financial results. The company will disclose its earnings after the market closes on Thursday, November 7, 2024. This will be followed by a conference call on Friday, August 8, 2024, at 8:30 a.m. (ET).

Investors and interested parties can join the live conference call using the following dial-in details:

• U.S. Toll Free: 1-877-407-4018
• International: 1-201-689-8471

• U.S. Toll Free: 1-844-512-2921
• International: 1-412-317-6671
• Conference ID: 13748613

Orion S.A. (NYSE: OEC), a specialty chemical company, has announced an interim quarterly dividend for the first quarter of 2025. The Board of Directors has declared a dividend of $0.0207 per common share, totaling approximately $1.25 million based on the current number of outstanding shares. The dividend will be paid on January 21, 2025, to shareholders of record as of December 13, 2024. It's important to note that a 15% Luxembourg withholding tax will be applied to each interim dividend, although exemptions and reductions may apply in certain circumstances.