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Sep 30, 2024
Orion Q3 2024 Earnings Report
Orion S.A. reported third quarter financial results with a net loss impacted by misappropriation of assets, but delivered strong Adjusted EBITDA.
Key Takeaways
Orion S.A. reported a net loss of $20.2 million for the third quarter of 2024, which includes a $42.5 million impact from a loss due to misappropriation of assets. However, the company delivered a strong Adjusted EBITDA of $80.1 million, up 4% year over year, driven by better Specialty segment regional mix, better operating performance and formula-based pricing.
Net sales decreased slightly to $463.4 million, a $2.8 million decrease year-over-year.
Net loss was $20.2 million, including a $42.5 million impact from misappropriation of assets.
Adjusted EBITDA increased by 4% year-over-year to $80.1 million.
The company re-initiated share buyback activity, repurchasing approximately $11 million of stock.
Revenue by Segment
Forward Guidance
Orion is revising its 2024 guidance for the year to an Adjusted EBITDA range of $305 million to $315 million and an Adjusted Diluted EPS range of $1.65 per share to $1.75 per share. Free cash flow is now likely to be negative $35 million this year, before impact from the fraud event and its related tax benefit.
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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