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Jun 30, 2023
Origin Materials Q2 2023 Earnings Report
Origin 1 initiated start-up and FDCA mass production moved forward to Origin 2.
Key Takeaways
Origin Materials reported revenue of $6.9 million driven by joint development agreements and the supply chain activation program. The company is focusing on FDCA production at Origin 2 due to strong demand and higher margins. Origin 1 initiated start-up, and the company updated the Origin 2 outlook with a phased construction plan.
Origin 1, the world’s first commercial-scale plant to produce Origin’s intermediates, initiated start-up.
The product slate at Origin 2 is updated to focus on the production of FDCA due to greater demand.
Origin 2 construction will follow a phased approach to reduce project risk, with Phase 1 start-up projected for late 2026 to 2027 and Phase 2 start-up projected for 2028.
Origin Materials maintains its 2023 revenue and Adjusted EBITDA outlook.
Forward Guidance
The Company is maintaining the following guidance for revenue and Adjusted EBITDA for fiscal year 2023
Positive Outlook
- Revenue of $40 million to $60 million
Challenges Ahead
- Adjusted EBITDA loss of $50 million to $60 million
Historical Earnings Impact
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Avg. Return Before/After Earnings
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