OEC - Orion Engineered Carbons Non-GAAP EPS of $0.26 beats by $0.09 revenue of $462.1M beats by $20.21M

February, 16 2023 04:39 PM Orion Engineered Carbons S.A

Orion Engineered Carbons press release ( NYSE: OEC ): Q4 Non-GAAP EPS of $0.26 beats by $0.09 .
Revenue of $462.1M (+17.7% Y/Y) beats by $20.21M .
Net sales increased by $69.4 million, or 17.7%, year over year, driven primarily by improved base pricing, passing through higher feedstock costs, favorable product mix in both segments and higher volume in Rubber Carbon Black segment.
Volumes decreased by 8.0 kmt, year over year, reflecting customer destocking, a slowing economy and supply chain challenges, mainly impacting specialty volumes.
For full year 2023, despite all the uncertainties in the global economy, the company are projecting an Adjusted EBITDA range of $350 million to $380 million, up 17 percent at the midpoint compared with 2022.
Full year 2023 Adjusted EPS of $2.30 to $2.60, up 25 percent at the midpoint.
Expect free cash flow of approximately $100 million in 2023.

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