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 (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.
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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.
Orion Engineered Carbons (NYSE: OEC) will announce its full year and fourth quarter 2022 results on February 16, 2023, after market close. A conference call is scheduled for February 17, 2023, at 8:30 a.m. (EST) to discuss these results. Investors can dial in using U.S. Toll Free: 1-877-407-4018 or International: 1-201-689-8471. A replay will be available until February 24, 2023. Orion specializes in carbon black production for diverse applications, with a strong commitment to innovation and sustainability. The company has a legacy of over 160 years in the industry and operates 14 plants globally.
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.