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

Orion Engineered Carbons (NYSE: OEC) announced a significant upgrade to a ‘B’ score from CDP, recognizing its effective environmental management and commitment to climate initiatives. This marks a progression from a previous ‘C’ score, indicating improved accountability. CEO Corning Painter emphasized the company's dedication to transparency in climate reporting. Earlier this year, Orion was also elevated from a ‘Silver’ to ‘Gold’ designation by EcoVadis, placing it in the top 3% of sustainability performers globally.

Orion Engineered Carbons (NYSE: OEC) has announced a new share repurchase program, authorizing the purchase of up to $50 million of its outstanding common stock. The Board's decision reflects a commitment to driving long-term shareholder value amidst favorable macroeconomic conditions. CEO Corning Painter emphasized the company's improving discretionary cash flow and the intent to strategically invest for growth, indicating that current market valuations do not fully reflect the company's potential. Stock repurchases will occur depending on market conditions and other considerations.

Orion Engineered Carbons (NYSE: OEC) reported third-quarter 2022 results, showcasing significant growth in financial metrics. Net sales rose to $543.1 million, up 38.2% year over year, with net income at $31.8 million and diluted EPS of $0.52. Adjusted EBITDA increased to $80.5 million, marking a 21.2% rise. The growth was driven primarily by strong performance in the Rubber Carbon Black segment. The company is optimistic about continued growth in 2023 with improved pricing and operational efficiencies.

Orion Engineered Carbons (NYSE: OEC) has achieved a significant sustainability milestone by becoming the first company to receive ISCC Plus certification for various carbon black grades produced from different feedstocks at multiple global plants. This certification validates the company's commitment to high sustainability standards and enhances transparency in its value chain. Products certified include ECORAX® Circular grades from Texas and Ohio and ECORAX® Nature 200 from Poland. Orion’s sustainable solutions position it as a leader in the industry, furthering its innovation towards a circular economy for tires.

Orion Engineered Carbons (NYSE: OEC) will release its third quarter 2022 results on November 3, 2022, followed by a conference call on November 4, 2022, at 8:30 a.m. (EDT). Interested parties can dial in at 1-877-407-4018 (U.S. Toll Free) or 1-201-689-8471 (International). A replay will be available through November 11, 2022. Orion specializes in carbon black, serving various industries worldwide with innovative solutions.

Orion Engineered Carbons (NYSE: OEC) has announced an interim dividend of $0.0207 per share, totaling approximately $1.25 million, to be paid on January 10, 2023. This payment is for shareholders on record as of January 3, 2023, with a 15% Luxembourg withholding tax applicable. Orion specializes in carbon black, serving various industries including tires and coatings, and maintains a robust global footprint with innovation centers and 14 production plants worldwide.

Orion Engineered Carbons (NYSE: OEC) will have CEO Corning Painter and CFO Jeff Glajch attend the 35th Annual Credit Suisse Specialties and Basics Conference in New York on September 13 at 1:15 PM EDT. Investors can access the audio link of the discussion on the company's website, with a transcript available afterward. Orion is a global leader in carbon black supply, providing materials tailored for various applications including tires and coatings, backed by over 160 years of expertise and innovation.

Orion Engineered Carbons (NYSE: OEC) has announced a price increase for all specialty carbon black grades produced in Europe, effective from October 1, 2022. The adjustments will be communicated to customers individually, influenced by various factors including product type and manufacturing location. This decision aims to maintain the supply of high-quality specialty products amid rising natural gas and oil prices and political instability in Europe. The increase also supports further investment in new product development to meet global market demands.

Orion Engineered Carbons (NYSE: OEC) reported Q2 2022 net sales of $541.2 million, a 35% year-over-year increase, while net income fell to $29.7 million, down 66.7% from the previous year due to a one-time Evonik settlement gain. Diluted EPS was $0.49, down from $1.47. Adjusted EBITDA rose by 5.8% to $83.4 million. The company anticipates achieving $310-$340 million in Adjusted EBITDA for the year. The expansion of their Senior Secured Revolving Credit Facility to €350 million also highlights ongoing financial strategy.