- Orion Engineered Carbons (OEC +3.7%) reports Q2 revenue increase 18.8% Y/Y to $391.6M driven by positive forex rate impacts, increased volumes & base prices and pass through of higher feedstock costs.
- Gross profit per ton for specialty business increased 12.3% to $856 and for rubber increased 22.9% to $263 per ton
- Volumes increased by 3.4% to 275.6 kmt reflecting stronger volumes primarily in North America and Europe.
- Contribution margin improved 19.5% to $155.1M, with EBITDA margin up 120bps to 20.7% and operating margin up ~958bps to 21.1%.
- FY18 Outlook: Raised Adjusted EBITDA to $285M-300M.
- Previously: Orion Engineered Carbons beats by $0.17, misses on revenue (Aug. 2)