Business
Orion S.A. Reports First Quarter Earnings; Increases Full Year 2026 Adjusted EBITDA Outlook
HOUSTON, May 06, 2026--Orion S.A. (NYSE: OEC), a specialty chemical company, today reported First Quarter 2026 Net sales of $460 million, a 4% decrease from the prior year, consisting of a 11% reduction in price, predominantly from the pass-through effect of lower year-over-year oil prices, and 1% adverse mix, which was partly offset by 2% higher volumes and 6% favorable foreign currency translation. Our first quarter results improved as the quarter progressed, despite a slow start in January an
About this update from Orion S.a.
[{"type":"text","content":"HOUSTON, May 06, 2026--(BUSINESS WIRE)--Orion S.A. (NYSE: OEC), a specialty chemical company, today reported First Quarter 2026 Net sales of $460 million, a 4% decrease from the prior year, consisting of a 11% reduction in price, predominantly from the pass-through effect of lower year-over-year oil prices, and 1% adverse mix, which was partly offset by 2% higher volumes and 6% favorable foreign currency translation. Our first quarter results improved as the quarter progressed, despite a slow start in January and February which our Rubber segment’s customers attributed to winter weather conditions. Demand picked up considerably during the month of March across both segments, particularly in our Specialty business.","length":723,"tagName":"p"},{"type":"text","content":"For the quarter, Orion generated a consolidated Net loss of $10 million, and Adjusted EBITDA of $46 million. Working capital utilization is typically the highest in our first quarter, resulting in an Operating cash use of $12 million and free cash outflow of $48 million. Orion responded quickly to the March surge in energy prices by accelerating cost actions and further optimizing working capital, while implementing targeted price increases and surcharges to protect margins in non-formula pass-through business.","length":516,"tagName":"p"},{"type":"text","content":"Other Highlights","length":16,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Contractual formula pricing pass-through mechanisms performing as expected, helping mitigate feedstock cost and earnings volatility","length":131,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Strong demand uptick late in Q1 reflects customer proclivity to secure local supply","length":83,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Cost saving efforts accruing favorably to results","length":49,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Working capital initiatives contributed to leaner inventories","length":61,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Successful re-qualification of Specialty grades in China","length":56,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Net debt-to-trailing twelve–month ("TTM") Adjusted EBITDA ratio of 4.2x at quarter end","length":96,"tagName":"p","attribs":{}}]}],"tag...