NYSE$OEC
Orion SA · Q2 2020 earnings
Q2 2020 earnings · · Investor relations
Briefing
Announced second quarter financial results impacted by COVID-19 induced global economic downturn.
Orion Engineered Carbons S.A. reported a decrease in net sales to $202.6 million compared to $399.0 million in the second quarter of 2019. The company experienced a net loss of $17.8 million, with basic EPS of $(0.30), compared to a net income of $24.7 million and $0.41 in the second quarter of 2019. Adjusted EBITDA was $15.2 million compared to $71.5 million in the second quarter of 2019.
- Continued focus on protecting employees, maintaining agile production and managing costs
- Generated $85.7 million of operating cash flow despite sharply lower volumes and profitability, reflecting a $77.3 million working capital reduction, providing a countercyclical, stabilizing impact on results
- Established $45 million in additional ancillary credit lines under revolving credit facility, contributing to a $86 million sequential increase in liquidity accessible at any net leverage level to $333 million
- Net sales of $202.6 million compared to $399.0 million in the second quarter of 2019 reflecting the COVID-19 induced global economic downturn
Headline financials
Revenue & EPS history
Orion · Revenue · Quarterly
$203M
Revenue by segment
Orion · $203M total across 2 segments · Q2 2020
- Rubber Carbon Black$108M—53.4%
- Specialty Carbon Black$94.4M—46.6%
Forward guidance
Company expects demand to continue to recover across specialty and rubber carbon black end markets as economies gradually reopen.
Tailwinds
- Recovery in driving rates and auto sales from historic lows early in the second quarter, are very positive
- Economies gradually reopen
- Expect demand to continue to recover across our specialty and rubber carbon black end markets
Headwinds
- Cannot predict the ultimate course of COVID-19
- Cannot predict the ensuing pace and shape of the recovery in our end markets.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2020
-0.9%
Avg return
Earnings day
-1.5%
Avg return
5 days after
+0.2%
Avg return
30 days after
57%
26 / 46 earnings
Positive
+10.0%
Q4 2022
Best reaction
-27.4%
Q2 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -12.3% | -8.5% | -18.0% | |
| Q4 2025 | -19.8% | -14.5% | -26.9% | |
| Q3 2025 | -8.4% | -1.0% | +1.6% | |
| Q1 2025 | -10.6% | -0.8% | +0.5% | |
| Q4 2024 | +3.3% | -0.4% | -8.3% | |
| Q3 2024 | -5.9% | +5.3% | +7.9% | |
| Q2 2024 | -27.4% | -28.0% | -24.2% | |
| Q1 2024 | -0.0% | +4.0% | +5.3% | |
| Q4 2023 | +1.6% | +0.8% | -1.6% | |
| Q3 2023 | +4.5% | +4.1% | +20.6% | |
| Q2 2023 | +5.5% | +4.0% | +4.8% | |
| Q1 2023 | +6.7% | -0.2% | +11.2% | |
| Q4 2022 | +10.0% | +11.4% | +10.7% | |
| Q3 2022 | +6.2% | +11.1% | +20.7% | |
| Q2 2022 | -8.0% | -8.1% | -3.8% | |
| Q1 2022 | +1.7% | +0.8% | +22.6% | |
| Q4 2021 | -9.5% | -19.4% | -18.7% | |
| Q3 2021 | +0.8% | -0.4% | -10.8% | |
| Q2 2021 | +1.4% | +0.2% | +3.9% | |
| Q1 2021 | -1.1% | -6.1% | -7.4% | |
| Q4 2020 | -2.0% | +2.0% | +19.1% | |
| Q3 2020 | -6.2% | +3.2% | +14.0% | |
| Q2 2020 | +9.4% | +11.4% | +15.7% | |
| Q1 2020 | +4.9% | -5.5% | +54.9% | |
| Q4 2019 | +6.9% | -5.7% | -54.6% | |
| Q3 2019 | +8.9% | +15.9% | +8.1% | |
| Q2 2019 | -20.8% | -29.5% | -28.6% | |
| Q1 2019 | +4.9% | +2.9% | -11.2% | |
| Q4 2018 | -19.3% | -22.6% | -27.5% | |
| Q3 2018 | +8.2% | +2.1% | +1.2% | |
| Q2 2018 | +8.0% | +9.5% | +10.3% | |
| Q1 2018 | +0.0% | +1.5% | +19.8% | |
| Q4 2017 | +1.3% | -0.4% | -8.9% | |
| Q3 2017 | +0.6% | +2.8% | +2.8% | |
| Q2 2017 | +2.6% | -2.6% | +3.8% | |
| Q1 2017 | +0.5% | -2.9% | -7.4% | |
| Q4 2016 | -1.0% | -0.7% | -9.3% | |
| Q3 2016 | +3.4% | +1.1% | +0.8% | |
| Q2 2016 | +7.0% | +6.4% | +13.1% | |
| Q1 2016 | +9.1% | — | — | |
| Q4 2015 | +1.8% | — | — | |
| Q3 2015 | -6.7% | — | — | |
| Q2 2015 | -0.7% | — | — | |
| Q1 2015 | -0.3% | — | — | |
| Q4 2014 | +1.5% | — | — | |
| Q3 2014 | -2.1% | — | — | |
| Q2 2014 | — | — | — | |
| Q1 2014 | — | — | — | |
| Q4 2013 | — | — | — | |
| Q3 2013 | — | — | — | |
| Q2 2013 | — | — | — | |
| Q1 2013 | — | — | — |
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