2023-08-09 17:01:58 ET
- Orion Engineered Carbons press release ( NYSE: OEC ): Q2 Non-GAAP EPS of $0.53 beats by $0.01 .
- Revenue of $458.8M (-15.2% Y/Y) misses by $43.04M .
- Shares -6.9% AH.
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Outlook
“Despite some softness in our end markets, we remain confident that we can deliver another record year. We are now setting our 2023 Adjusted EBITDA guidance range to be $320 million to $350 million, up seven percent at the midpoint, compared with our record 2022 results. We also project full year 2023 Adjusted EPS of $2.00 to $2.25, vs. consensus of $2.36, up nine percent at the midpoint. Free cash flow should be approximately $100 million this year. Importantly, we continue to be on track to realize our 2025 goal of a mid-cycle Adjusted EBITDA earnings capacity of $500 million,” Mr. Painter concluded.
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Orion Engineered Carbons Non-GAAP EPS of $0.53 beats by $0.01, revenue of $458.8M misses by $43.04M