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

Orion Engineered Carbons (NYSE: OEC) has declared an interim dividend of $0.0207 per common share, totaling approximately $1.25 million based on current shares outstanding. The dividend is set for payment on July 6, 2023, with a record date of May 17, 2023. Shareholders will face a 15% Luxembourg withholding tax, which may have exemptions. Orion specializes in producing carbon black for various applications including tires and coatings, and operates globally with a focus on sustainable solutions. This move reflects the company's ongoing commitment to returning value to shareholders.

Orion Engineered Carbons (NYSE: OEC) has successfully installed a cogeneration technology at its Ivanhoe plant in Louisiana, enhancing operational efficiency. This technology converts waste steam from carbon black production into electricity, reducing reliance on the grid and minimizing downtime. CEO Corning Painter emphasized its significance for consistent production, particularly in the Gulf Coast region, which faces severe weather challenges. Additionally, improved equipment reliability is expected, preventing costly shutdowns. This upgrade follows the late 2021 installation of air emissions control technology, marking another step in Orion’s commitment to sustainable practices. Overall, these innovations aim to bolster operational performance and align with the company's environmental objectives.

Orion Engineered Carbons (NYSE: OEC) announced it will release its first quarter 2023 financial results after market close on May 4, 2023. A conference call will follow on May 5, 2023, at 8:30 a.m. (EDT), where investors can participate via U.S. Toll-Free: 1-877-407-4018 or International: 1-201-689-8471. A replay of the call will be available until May 12, 2023. The company's investor relations section will also host a live and archived webcast of the call. Orion, a leading carbon black supplier, operates 15 plants globally and has a history stretching over 160 years, focusing on customer-specific solutions across various applications including tires and coatings.

Orion Engineered Carbons (NYSE:OEC) announced its 2023 annual general meeting on June 7, 2023, at 2:00 pm CET in Luxembourg. The record date for shareholder admission is set for April 6, 2023. Additionally, an extraordinary general meeting will take place on the same day at 4:00 pm CET, primarily to refresh the Board's five-year authorization for issuing up to five million new shares and for corporate housekeeping. Both meetings will allow virtual attendance and remote communication for shareholder participation.

Orion Engineered Carbons (NYSE: OEC) has declared an interim dividend of $0.0207 per common share, totaling approximately $1.25 million. The dividend will be paid on April 5, 2023, with a record date of March 21, 2023. A 15% Luxembourg withholding tax will be applied, which may vary based on exemptions. Orion is a global carbon black supplier, providing specialized materials for various high-performance applications. The company emphasizes innovation and sustainability, backed by over 160 years of industry experience.

Orion Engineered Carbons (NYSE: OEC) reported its financial results for Q4 and full year 2022, highlighting net sales of $2,030.9 million, a 31% increase year-over-year, but a net income decline to $106.2 million. Key metrics included a diluted EPS of $1.73, down $0.48 from last year due to a prior Evonik cash settlement. The fourth quarter saw net sales rise 17.7% to $462.1 million and a net income increase of 1009.1% to $12.2 million. The company anticipates 2023 Adjusted EBITDA between $350 million and $380 million, and an Adjusted EPS of $2.30 to $2.60.

Orion Engineered Carbons (NYSE: OEC) announced a $60 million project to significantly reduce air emissions at its Borger, Texas plant. This upgrade, part of the company's sustainability initiatives, will cut nitrogen oxide and sulfur dioxide emissions by 90%, eliminating 23 tons per day. The project also enhances the plant's cogeneration system, allowing for electricity generation from the carbon black production process, which will enhance energy efficiency and potential revenue through grid sales. Orion has also upgraded its emissions control technology in additional U.S. facilities and anticipates increased free cash flow for future growth investments.