Every 10-Q that Orion S.A. (OEC) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow OEC and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full OEC filings page.
Orion S.A. reported Q2 2026 net sales of $500.9 million, up from $466.4 million, but net income declined to $1.8 million or $0.03 per share from $9.0 million. For the first six months, net sales were $960.4 million, yet results swung to a net loss of $8.1 million from $18.1 million profit a year earlier, with the effective tax rate reaching 505.0%.
Total Adjusted EBITDA fell to $58.2 million in Q2 and $104.3 million for the first half from $68.8 million and $135.0 million, driven by a sharp decline in the Rubber Carbon Black segment, where first-half Adjusted EBITDA dropped to $38.2 million from $89.7 million. The Specialty Carbon Black segment partly offset this, with Q2 Adjusted EBITDA rising to $39.0 million and first-half Adjusted EBITDA to $66.1 million.
Net cash provided by operating activities decreased to $14.9 million in the first half, and free cash flow was -$46.6 million as capital expenditures reached $61.5 million and Net working capital increased to $357.9 million. Orion reported total liquidity of $178.3 million (including $50.8 million of cash) and stated it remains in compliance with debt covenants, while highlighting heightened exposure to feedstock cost volatility and geopolitical risks affecting oil markets.
Orion S.A. reported weaker first-quarter 2026 results, moving from a profit to a net loss as margins compressed, especially in its Rubber Carbon Black business. Net sales slipped to $459.5 million from $477.7 million, while net income swung to a loss of $9.9 million, or $(0.18) per share, from earnings of $9.1 million, or $0.16 per share, a year earlier.
Gross profit fell to $79.2 million from $98.1 million as unfavorable product and regional mix, lower contractual pricing, and timing of raw material cost pass-through more than offset slightly higher volumes. Adjusted EBITDA declined 30.4% to $46.1 million, driven by a 53.4% drop in Rubber Carbon Black Adjusted EBITDA to $19.0 million, partially offset by a 6.7% increase in Specialty Carbon Black Adjusted EBITDA to $27.1 million.
Operating cash flow turned negative at $(12.4) million, and free cash flow was $(48.5) million as Orion invested $36.1 million in capital expenditures, including its new La Porte conductive plant. Net working capital rose to $353.5 million, reflecting higher receivables, and total liquidity stood at $192.3 million with $50.5 million of cash and $141.8 million available under its revolving and ancillary credit facilities.
Orion S.A. (NYSE: OEC) reported third-quarter 2025 results marked by a non-cash goodwill impairment and softer profitability. Net sales were $450.9 million (down 2.7% year over year) and the company recorded a net loss of $67.1 million, driven by an $80.8 million goodwill impairment across the Rubber and Specialty units.
Adjusted EBITDA was $57.7 million (down 28.0%), as unfavorable raw material pass-through timing and weaker product and regional mix outweighed higher volumes. Year to date, operating cash flow reached $122.9 million against $112.3 million of capital expenditures, supporting ongoing investments. Liquidity totaled $249.2 million, including $51.3 million of cash and $165.8 million available under credit lines. In September, Orion amended its revolving credit facility to €350.0 million capacity; the net leverage covenant is 5.0x on or before December 31, 2026 and 4.5x thereafter. The company also recorded a $7.3 million recovery related to prior misappropriated funds.