Carbon black headwinds: How Orion navigated a tough financial year
Orion faced a challenging financial year in 2025, experiencing a drop in net sales. Despite these difficulties, the company managed to post solid financial results, indicating effective navigation of the carbon black industry's headwinds. The article highlights the company's performance during a tough period.
Orion rubber blacks hit by “historically high” cheap tire imports
Orion SA's Rubber Carbon Black segment experienced a decline in sales and earnings in 2025 despite an increase in volumes, largely due to "historically high" levels of lower-tier tire imports into the Western Hemisphere. The company reported challenges from softer demand in key Western markets and the pass-through effect of lower oil prices. Orion implemented cost rationalization and inventory reduction to mitigate these pressures, with overall group results being better than expected due to less pronounced year-end destocking.
Orion S.A. price target raised to $6.50 from $6 at UBS
UBS analyst Joshua Spector raised the price target for Orion S.A. (OEC) shares to $6.50 from $6, while maintaining a Neutral rating. This decision comes despite the company's Q4 beat, as it was counterbalanced by less favorable contract outcomes and a reduced 2026 guidance. The analyst noted that the Q4 beat was overshadowed by lower contract outcomes and lower 2026 guidance.
UBS Raises Price Target for Orion (OEC), Maintains Neutral Ratin
UBS has maintained its "Neutral" rating for Orion (OEC) while increasing its price target from $6.00 to $6.50, an 8.33% increase. The company is a manufacturer of carbon black products, primarily generating revenue from its Rubber Carbon Black segment. Wall Street analysts forecast an average target price of $6.85 for OEC, suggesting a 5.06% upside from its current price, while GuruFocus estimates a GF Value of $18.87, implying a 189.41% upside.
Orion Engineered Carbons stock price target raised to $5.25 by Mizuho
Mizuho has increased its price target for Orion Engineered Carbons (NYSE:OEC) to $5.25 from $4.50, maintaining an Underperform rating due to higher market multiples. Despite this, the company's Q4 2025 adjusted EBITDA of $55 million exceeded consensus estimates, although overall volume was down. Orion Engineered Carbons faces pressure from tire imports and has guided fiscal 2026 adjusted EBITDA to a midpoint of $180 million.
Orion S.A. price target raised to $5.25 from $4.50 at Mizuho
Mizuho has increased its price target for Orion S.A. (OEC) to $5.25 from $4.50, while maintaining an Underperform rating on the shares. The firm cited higher market multiples as the reason for the target boost, but noted that Orion's fiscal 2026 EBITDA guidance was significantly lower than estimates. This update follows Orion's recent Q4 adjusted EPS report of (34c) against a consensus of (8c) and their 2026 adjusted EBITDA outlook of $160M-$200M.
Heartland Advisors Inc. Lowers Holdings in Orion S.A. $OEC
Heartland Advisors Inc. significantly reduced its stake in Orion S.A. (NYSE:OEC) by 66.7% in Q3, selling 400,000 shares and retaining 200,000 shares valued at $1.52 million. Despite Orion beating revenue expectations in Q4 with $411.7 million, it missed EPS estimates badly at ($0.34) versus ($0.08), indicating margin pressures. Institutional ownership remains high at 94.33%, but analysts have a consensus "Strong Sell" rating with an average price target of $5.67, closely aligning with its current trading price of $5.71.
Orion S.A. (NYSE:OEC) Q4 2025 Earnings Call Transcript
This article provides the Q4 2025 earnings call transcript for Orion S.A. (NYSE:OEC). It was published on February 18, 2026, and is part of Insider Monkey's collection of earnings call transcripts. The content primarily serves as a record of the company's financial results and discussions from the call.
Orion S.A. reports Q4 adjusted EPS (34c), consensus (8c)
Orion S.A. announced Q4 adjusted EPS of (34c), significantly exceeding the consensus estimate of (8c), with revenue hitting $412M against a $365.79M consensus. CEO Corning Painter highlighted 2025 net sales of $1.807M and $248M adjusted EBITDA, attributing better-than-anticipated results to less severe year-end destocking and production curtailment. CFO Jon Puckett emphasized positive free cash flow of $55 million in 2025, driven by working capital management, and committed to another year of positive free cash flow in 2026.
Orion Engineered Carbons Confronts Cycle Lows With Cost Reset and Disciplined 2026 Outlook
Orion Engineered Carbons (OEC) reported a challenging 2025 with a net loss of $70.1 million and declining sales, attributed to a macroeconomic trough and record tire imports. Despite this, the company achieved positive free cash flow and focused on cost restructuring, including headcount reductions and manufacturing optimization. For 2026, Orion projects adjusted EBITDA of $160 million to $200 million and free cash flow of $25 million to $50 million, supported by reduced capital expenditures and amended credit facilities to navigate ongoing cyclical pressures.
Earnings call transcript: Orion Engineered Carbons Q4 2025 misses EPS, revenue beats
Orion Engineered Carbons reported Q4 2025 earnings, missing EPS forecasts significantly at -$0.34 against an expected -$0.06, but exceeding revenue expectations with $411.7 million against $367.01 million. Despite the EPS miss, the stock saw a modest increase in pre-market trading, suggesting investor focus on the strong revenue performance and future growth prospects. The company provided 2026 adjusted EBITDA guidance of $160 million to $200 million, anticipating continued positive free cash flow through cost management and reduced capital expenditures, with La Porte plant completion pushed to 2027.
Orion Engineered Carbons Q4 Earnings Analysis
Orion Engineered Carbons reported a disappointing Q4 with a non-GAAP EPS of -$0.34, missing expectations, and a 5% year-over-year revenue decline to $411.7 million due to lower volume and prices. Despite a partial offset from favorable foreign currency translation, market demand remains weak. The company provides a cautious outlook with a 2026 Adjusted EBITDA guidance of $160 million to $200 million and free cash flow guidance of $25 million to $50 million.
Orion: Q4 Earnings Snapshot
Orion S.A. (OEC) reported a fourth-quarter loss of $21.1 million, or 38 cents per share, which adjusted to 34 cents per share. The company, a producer of carbon black, posted revenue of $411.7 million for the period. For the entire year, Orion reported a loss of $70.1 million, or $1.24 per share, on revenue of $1.81 billion.
Orion: Fourth Quarter Earnings Overview
Orion S.A. reported a net loss of $21.1 million, or $0.38 per share, for the fourth quarter, with an adjusted loss of $0.34 per share and revenues of $411.7 million. For the full year, the company recorded a total loss of $70.1 million, or $1.24 per share, on annual revenues of $1.81 billion.
Orion: Q4 Earnings Snapshot
Orion S.A. (OEC) reported a fourth-quarter loss of $21.1 million, or 38 cents per share, with adjusted losses at 34 cents per share. The carbon black producer recorded $411.7 million in revenue for the quarter. For the full year, Orion posted a loss of $70.1 million, or $1.24 per share, on revenue of $1.81 billion.
Orion S.A. (OEC): Quiet grind higher or value trap in the making?
Orion S.A. (OEC), a specialty carbon black producer, has seen its stock quietly rise, outperforming chemical peers despite moderate volumes and macro jitters. The market is debating whether this upward trend is a durable rerating due to improving fundamentals and shareholder returns or merely a technical bounce. Analysts largely hold a constructive view, with target prices suggesting a considerable upside, though they acknowledge the cyclical nature of its end markets.
Orion S.A. leaders head to two virtual investor conferences
Orion S.A. (NYSE: OEC) announced that CEO Corning Painter, CFO Jon Puckett, and VP of Investor Relations Chris Kapsch will participate in two upcoming virtual investor conferences: the New York Stock Exchange (NYSE) Investor Access Day Series on March 5 and Loop Capital Markets’ 7th Annual Investor Conference on March 9. The company is a global specialty chemicals supplier, providing carbon black for various applications including tires, coatings, and batteries.
Orion S.A. celebrates safety record nine times higher than industry average
Orion S.A. announced its 2025 safety record for employees, achieving a Total Recordable Incident Rate (TRIR) of 0.18, which is nine times better than the chemical manufacturing industry average of 1.6. The company reported only three employee injuries worldwide and received 10 safety awards from the International Carbon Black Association (ICBA), including Gold Awards for eight of its global sites. CEO Corning Painter highlighted that a strong safety record reflects robust operating discipline and sustained benefit from ongoing manufacturing excellence initiatives.
Orion S.A.’s 2025 Safety Record Ranks Above Industry Average
Orion S.A., a global specialty chemicals producer, achieved a 2025 safety record nine times better than the chemical manufacturing industry average, with a Total Recordable Incident Rate (TRIR) of 0.18. This marks their second-best year for safety, reflecting strong operating discipline and ongoing manufacturing excellence initiatives. The company also received 10 safety awards from the International Carbon Black Association, with eight plants earning the Gold Award.
Orion S.A. gets top marks for employee safety in 2025
Orion S.A. has received top marks for employee safety in 2025, achieving its second-safest employee year. The article highlights this accomplishment, indicating the company's strong focus on workplace safety.
Orion S.A. (NYSE:OEC) Short Interest Up 41.3% in January
Short interest in Orion S.A. (NYSE:OEC) surged by 41.3% in January, reaching 842,698 shares, which represents about 1.5% of its outstanding shares. Wall Street analysts generally hold a "Strong Sell" consensus rating for the company, with a target price around $5.67. Despite the negative sentiment, institutional investors collectively own approximately 94.33% of the stock, with several major funds modestly increasing their stakes.
Orion Stock is Down 50%: Here’s Analysts’ 2026 Outlook
Orion S.A. (OEC) stock has seen a 50% decline, and analysts project it could reach $7 by 2027, implying a 16% total upside from its current price of $6. This forecast is based on conservative assumptions including 0.4% revenue growth, 6.5% operating margins, and a 7.0x exit multiple, leading to an estimated 8% annualized return. The valuation model considers muted demand and constrained pricing in the carbon black market, projecting stability rather than significant growth.
Orion S.A. (NYSE:OEC) Stock Catapults 26% Though Its Price And Business Still Lag The Industry
Orion S.A. (NYSE:OEC) shares recently surged by 26% within a month, yet the company's stock price remains significantly down by 56% over the last year. Despite the recent jump, its price-to-sales (P/S) ratio of 0.2x is considerably lower than the Chemicals industry average of 1.1x, indicating that the business continues to underperform due to declining revenues and negative future growth forecasts from analysts. This suggests that while there was a short-term price increase, Orion S.A. still faces challenges in matching industry performance.
Improved Revenues Required Before Orion S.A. (NYSE:OEC) Stock's 26% Jump Looks Justified
Orion S.A. (NYSE:OEC) shares recently jumped 26% but still show a 56% decline over the past year. Despite a low price-to-sales (P/S) ratio of 0.2x compared to an industry average above 1.1x, the company's revenue has been decreasing, and analysts forecast continued contraction. This suggests that without significant improvements in revenue growth, the current P/S may not justify a sustained higher stock price.
Improved Revenues Required Before Orion S.A. (NYSE:OEC) Stock's 26% Jump Looks Justified
Orion S.A. (NYSE:OEC) shares recently jumped 26%, though this improvement comes after a 56% decline over the past year. Despite a low price-to-sales (P/S) ratio of 0.2x compared to an industry average of 1.1x, the company's revenue has been decreasing, and analysts forecast a continued slump. The article suggests that while the stock appears cheap, sustained revenue growth is needed to justify a higher valuation.
Minneapolis Portfolio Management Group LLC Sells 1,087,282 Shares of Orion S.A. $OEC
Minneapolis Portfolio Management Group LLC significantly reduced its stake in Orion S.A. by selling over a million shares, now holding 865,193 shares valued at $6.56 million. This divestment follows Orion S.A. missing quarterly earnings and revenue estimates, coupled with a "Strong Sell" consensus rating from analysts. Despite other institutional investors increasing their positions, the company faces financial challenges, including a negative net margin and P/E ratio.
Feb. 17 earnings call will detail Orion S.A.'s Q4 2025 results performance
Orion S.A. (NYSE: OEC) announced its fourth quarter 2025 financial results will be released before market open on Tuesday, February 17, 2026. A conference call will follow at 8:30 a.m. ET to discuss the results, with dial-in details provided for participants and replay access available until March 3, 2026. A live and archived webcast of the call will also be accessible via the company's investor relations website.
Orion (NYSE:OEC) adds US$46m to market cap in the past 7 days, though investors from three years ago are still down 69%
Orion S.A. (NYSE:OEC) has seen a 16% share price increase in the last month, adding US$46 million to its market cap, but investors who bought three years ago are still down 69%. This significant drop over the longer term is attributed to a decline in earnings per share, which fell to a loss during that period. Despite recent insider buying and short-term gains, the company's long-term stock performance indicates challenges, suggesting that while there's a recent upturn, the prior three years have been tough for shareholders.
Orion S.A.: A Quiet Chemicals Player With A Surprising Momentum Story
Orion S.A. (OEC), a specialty chemicals producer, has shown surprising momentum with its stock price steadily rising, supported by strong fundamentals despite a quiet market presence. Analysts are reiterating positive stances with double-digit upside targets, as the company benefits from disciplined pricing, a focus on specialty products like carbon black for tires and batteries, and resilient earnings. Despite macro challenges, Orion's strategic positioning in critical supply chains and its consistent performance are starting to attract more investor attention.
Orion S.A. Publishes Most Current, Comprehensive Carbon Black Article
Orion S.A. has published a new comprehensive article on carbon black, detailing its manufacturing process, various grades, and diverse applications. The article aims to be the most current and thorough resource on the topic, covering insights from their long history in the industry. It emphasizes carbon black's critical role across several sectors and highlights Orion's expertise.
Despite Recent Gains, Orion Insiders Are Still Down US$142k
Orion S.A. insiders who bought US$264.8k worth of shares over the last year have recouped some losses following an 11% stock gain last week, but are still down by US$142k. The largest purchase was by CEO Corning Painter for US$222k at a price higher than the current market value, indicating past optimism. While current insider holdings are modest at 3.0%, the buying activity over the past year is seen as an encouraging sign.
Orion S.A. $OEC Shares Acquired by Harvey Partners LLC
Harvey Partners LLC increased its stake in Orion S.A. (NYSE:OEC) by 15.5% in the second quarter, now holding 2,424,995 shares valued at approximately $25.44 million, making Orion its 19th largest holding. Despite this acquisition, analyst sentiment for Orion remains bearish, with a consensus "Strong Sell" rating and an average target price of $6.00 after recent downgrades and an earnings per share miss. The company's stock currently trades around $5.25 with a market capitalization of $294.90 million.
Orion S.A. expands its ability to provide high-performance carbon materials
Orion S.A. is expanding its production of high-performance carbon materials, including conductive additives for high-voltage cable compounds and battery energy storage systems (BESS). The company's PRINTEX kappa 100 grade of acetylene black has been qualified by a BESS producer, anticipating significant business growth in this sector. Orion S.A. emphasizes its localization strategy and decades of experience to meet the growing global demand for energy infrastructure upgrades.
Wealthedge Investment Advisors LLC Invests $575,000 in Orion S.A. $OEC
Wealthedge Investment Advisors LLC has invested $575,000 in Orion S.A. (NYSE:OEC), acquiring 54,802 shares, representing 0.10% of the company. Despite significant institutional ownership (over 94%) and some firms increasing stakes, Orion faces weak financials and sentiment, with shares trading near $5.08, a "Strong Sell" consensus from analysts, and missed quarterly EPS estimates. The company recently announced an interim dividend of $0.0207, which has an unusually high yield.
Orion makes gains in grid modernization with conductive additives
Orion S.A. is making progress in high-voltage cable and grid-modernization applications by utilizing its qualified conductive additive, Printex Kappa 100. This development positions Orion as a key player in enhancing the infrastructure for modern electricity grids and addressing the demands of advanced technologies like AI data centers. The company's specialized additive contributes to improved conductivity, which is essential for efficient power transmission and distribution.
Orion S.A. $OEC Position Increased by CenterBook Partners LP
CenterBook Partners LP significantly increased its stake in Orion S.A. during Q2, now owning 0.52% of the company worth $3.09 million. Other institutional investors like Pzena and Cubist also raised or initiated positions, pushing total institutional ownership to 94.33%. Despite this, Orion recently missed EPS estimates, has a negative net margin, and its stock is trading at $4.69 with a consensus price target of $7.33, while analysts largely maintain a "Sell" or "Hold" rating.
Orion S.A. (OEC) Fell on Ongoing Freight Recession
Orion S.A. (NYSE: OEC), a carbon black manufacturer, experienced a decline in its stock value due to pressures from an ongoing freight recession and strained consumers opting for cheaper imported tires. The company's shares fell 15.55% in one month and 74.30% over 52 weeks, closing at $4.67 per share on November 24, 2025. Diamond Hill Capital's Small Cap Strategy highlighted OEC as a bottom contributor in Q3 2025.
Orion S.A. unveils its new Chief Financial Officer
Orion S.A. has announced that Jonathon “Jon” Puckett will succeed Jeff Glajch as the company’s Chief Financial Officer starting December 1, 2025. Puckett brings over 30 years of financial leadership experience, including 14 years at Celanese. The outgoing CFO, Jeff Glajch, will retire at the end of the year and provide consulting during Q1 2026 for a smooth transition.
Orion S.A. Names Jonathan Puckett Chief Financial Officer
Orion S.A. has appointed Jonathan Puckett as its new chief financial officer, effective December 1, 2025, succeeding Jeff Glajch. Puckett brings over 30 years of financial leadership experience, including 14 years at Celanese where he served as VP and CFO for the Acetyl Chain segment. Glajch will remain with Orion as a full-time employee until the end of 2025 and will provide consulting services in Q1 2026.
Revenue Beat: Orion S.A. Exceeded Revenue Forecasts By 7.1% And Analysts Are Updating Their Estimates
Orion S.A. (NYSE:OEC) recently reported its third-quarter results, showing revenues of US$451m, which was 7.1% ahead of expectations, while statutory earnings per share were in line with analyst appraisals at US$0.76. Despite the revenue beat, sentiment has declined due to a significant reduction in new EPS forecasts for 2026, even though the consensus price target remained broadly unchanged at US$9.10. Analysts anticipate a 2.7% decline in revenue for 2026 and expect Orion's revenue performance to be worse than the wider industry.
Revenue Beat: Orion S.A. Exceeded Revenue Forecasts By 7.1% And Analysts Are Updating Their Estimates
Orion S.A. (NYSE:OEC) recently reported third-quarter results, beating revenue forecasts by 7.1% with US$451m, although the investment has dropped 12% to US$4.59. Despite the revenue beat, analysts have become more bearish on the company's prospects, significantly cutting EPS estimates for 2026 from US$1.47 to US$1.13, while revenue forecasts remained unchanged. The consensus price target held steady at US$9.10, but the wide range of individual analyst targets suggests diverging views on the company's future performance.
‘Pork sold as halaal meat’
Halaal authorities and the national meat industry are preparing to approach the Western Cape High Court for an interdict against Orion Cold Storage, a well-known meat supplier. The company is accused of engaging in fraud, including re-labelling pork as halaal, selling water buffalo as beef, and using non-food-grade milk powder for human consumption. An informant provided evidence, leading to an granted order to search Orion's premises and a planned application for an interim interdict to halt its operations.
Orion SA reports results for the quarter ended September 30 - Earnings Summary
Orion SA (OEC) reported adjusted earnings of 29 cents per share for the quarter ended September 30, beating analyst expectations of 26 cents but lower than the previous year's 47 cents. Revenue decreased by 2.7% year-over-year to $450.90 million, despite analysts forecasting $444.69 million. The company reported a net loss of $67.1 million and a loss per share of $1.20, with its shares falling significantly over the quarter and year.
UBS downgrades Orion Engineered Carbons stock on tire production concerns By Investing.com - Investing.com South Africa
This article reports on UBS downgrading Orion Engineered Carbons stock due to concerns regarding tire production. The article itself, however, contains an application error and does not provide the actual detailed content of the downgrade or the reasons behind the tire production concerns.
UBS downgrades Orion Engineered Carbons stock on tire production concerns - Investing.com India
UBS downgraded Orion Engineered Carbons (NYSE:OEC) from Buy to Neutral and reduced its price target to $7.00 due to concerns over western tire production and increased U.S. tire imports impacting carbon black demand. The firm also lowered its EBITDA and free cash flow forecasts for the company, anticipating that earnings and FCF improvement will emerge later than expected. This downgrade follows Orion S.A.'s own reduction in full-year 2025 earnings guidance, with other analysts like Mizuho and Jefferies also adjusting their ratings and price targets.
UBS downgrades Orion Engineered Carbons stock on tire production concerns By Investing.com - Investing.com Australia
UBS downgraded Orion Engineered Carbons (NYSE:OEC) from Buy to Neutral and reduced its price target to $7.00 from $12.00, citing concerns over western tire production and elevated U.S. tire imports affecting carbon black demand. The firm also lowered its EBITDA forecasts for OEC for 2025-2027 and revised its free cash flow projection downwards, despite expecting positive FCF growth in 2026. This downgrade follows Orion S.A.'s recent reduction in full-year 2025 earnings guidance due to weaker demand in the tire manufacturing sector and similar actions by other analysts like Mizuho and Jefferies.
Orion Shares Fall After UBS Downgrade - MarketScreener
Orion S.A. shares fell after UBS downgraded the stock, adjusting its price target from $15 to $12 while maintaining a Buy rating. This follows a previous price target cut by Mizuho from $9 to $7, keeping an Underperform rating. The article also notes other recent news including an insomnia treatment failing a Phase 2 trial and new contract wins.
OEC Downgraded to Neutral by UBS, Price Target Slashed by 41.67% | OEC Stock News
UBS has downgraded Orion (OEC) from "Buy" to "Neutral" and cut its price target by 41.67% from $12.00 to $7.00. This follows several other downgrades from analysts including Mizuho and JP Morgan in recent months. Despite the downgrades, the average analyst target price for OEC remains $12.00, implying a significant upside from its current trading price.
UBS Downgrades Orion to Neutral From Buy, Cuts Price Target to $7 From $12 - MarketScreener
UBS downgraded Orion S.A. (OEC) to Neutral from Buy and significantly cut its price target to $7 from $12. This change in rating and target price reflects a less optimistic outlook from UBS on the specialty chemicals producer. The article also notes other recent analyst rating changes and past news concerning Orion's financial performance and clinical trials.
Orion S.A. downgraded to Neutral from Buy at UBS - TipRanks
UBS has downgraded Orion S.A. (OEC) to Neutral from Buy and reduced its price target to $7 from $12. This decision follows Orion's cut to its fiscal 2025 EBITDA outlook, as UBS no longer anticipates a near-term recovery in western tire production, leading to concerns about carbon black demand. The firm believes that a significant earnings and free cash flow improvement for Orion is now expected later than initially projected, in the second half of 2026 and 2027.
