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Sep 30, 2022
Origin Materials Q3 2022 Earnings Report
Increased offtake agreements and capacity reservations, maintained adjusted EBITDA and capital expenditure outlook.
Key Takeaways
Origin Materials reported a net income of $8.3 million for Q3 2022, with cash, cash equivalents, and marketable securities totaling $362.2 million. The company maintains its construction timeline for Origin 1, expecting mechanical completion by the end of 2022. Customer demand remains strong, with contracted offtake agreements and capacity reservations increasing to $9.0 billion.
Origin Materials increased total signed offtake agreements and capacity reservations to $9.0 billion.
Origin 1 construction is on track for mechanical completion by year-end 2022.
The previously disclosed Origin 2 capital budget, construction timeline, and financing are unchanged.
The company maintains its 2022 adjusted EBITDA and capital expenditure outlook.
Forward Guidance
The Company is maintaining Adjusted EBITDA and its previously updated capital spending estimate for fiscal year 2022
Positive Outlook
- Adjusted EBITDA loss of up to $36 million
- Capital spending is expected to be up to $175 million
Historical Earnings Impact
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Avg. Return Before/After Earnings
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