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Sep 30, 2023
Orion Q3 2023 Earnings Report
Reported financial results for the period ended September 30, 2023.
Key Takeaways
Orion S.A. reported a decrease in net sales and net income for the third quarter of 2023, with net sales at $466.2 million and net income at $26.2 million. Despite weaker demand in key markets, the company delivered $77 million of Adjusted EBITDA. Strong cash flow enabled debt reduction and share repurchases.
Net sales decreased by 14.2% year-over-year to $466.2 million.
Net income decreased by 17.6% year-over-year to $26.2 million.
Adjusted EBITDA decreased by 4% year-over-year to $77.3 million.
Volume increased by 0.8% year-over-year.
Revenue by Segment
Forward Guidance
The company narrowed its 2023 Adjusted EBITDA guidance range to $330 million to $340 million, up seven percent at the midpoint, compared with previous record 2022 results. They also project full year 2023 Adjusted EPS of $2.00 to $2.10, up nine percent at the midpoint. Free cash flow should be approximately $100 million this year and they look forward to further growth in 2024.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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