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Mar 31, 2023
Orion Q1 2023 Earnings Report
Reported record first quarter financial results.
Key Takeaways
Orion Engineered Carbons reported strong Q1 2023 results, with net sales of $500.7 million and net income of $42.3 million. The company achieved a record Adjusted EBITDA of $101 million and Adjusted Diluted EPS of $0.74. Strong cash flow allowed for share repurchases and debt reduction.
Net sales increased by $16.2 million year over year, reaching $500.7 million.
Net income rose by $9.8 million year over year, totaling $42.3 million.
Adjusted EBITDA reached a record $101 million, a 22% increase year over year.
Adjusted Diluted EPS also hit a record of $0.74, up by $0.17 year over year.
Revenue by Segment
Forward Guidance
The company is reiterating its 2023 guidance for Adjusted EBITDA in the range of $350 million to $380 million and Adjusted EPS of $2.30 to $2.60. Free cash flow is projected to be approximately $100 million for the year.
Positive Outlook
- Adjusted EBITDA range of $350 million to $380 million, up 17 percent at the midpoint, compared with 2022.
- Full year 2023 Adjusted EPS of $2.30 to $2.60, up 25 percent at the midpoint.
- Free cash flow should be approximately $100 million this year.
- Remain on track to realize 2025 goal of a mid-cycle Adjusted EBITDA earnings capacity of $500 million.
Challenges Ahead
- Guidance takes into consideration items recorded in the first quarter that will not repeat this year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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