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Jun 30, 2023
Orion Q2 2023 Earnings Report
Orion S.A. reported second quarter financial results.
Key Takeaways
Orion S.A. reported net sales of $458.8 million, a decrease of $82.4 million year-over-year. Net income increased slightly to $30.1 million, with diluted EPS up by $0.02 to $0.51. Adjusted EBITDA reached $87 million, a 5% increase year-over-year.
Net sales decreased by 15.2% year over year, driven primarily by declining oil prices and lower volume.
Net income increased by $0.4 million, or 1.3%, year over year.
Adjusted EBITDA increased by 4.7% year over year, primarily due to favorable pricing in the Rubber Carbon Black segment.
The company is on track to deliver record full year Adjusted EBITDA in 2023.
Revenue by Segment
Forward Guidance
Orion S.A. set its 2023 Adjusted EBITDA guidance range to be $320 million to $350 million, up seven percent at the midpoint, compared with record 2022 results. They also project full year 2023 Adjusted EPS of $2.00 to $2.25, up 9 percent at the midpoint. Free cash flow should be approximately $100 million 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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