Headquartered in 6 Route De Treves, Senningerberg Fiscal year ends December NYSE: OEC orioncarbons.com
Orion S.A. (NYSE: OEC), formerly Orion Engineered Carbons, is a specialty chemical company that produces carbon black, a solid form of carbon made as powder or pellets to customer specifications. It reports two segments:
- **Rubber Carbon Black:** supplies tire and mechanical rubber goods manufacturers, largely under annual contracts with formulaic feedstock pass-through mechanisms.
- **Specialty Carbon Black:** serves coatings, inks, polymers/plastics, batteries and other high-performance applications. In these uses, carbon black provides tint, color, reinforcement, electrical conductivity, durability and UV protection.
Orion operates 14 plants worldwide and innovation centers on three continents, with production in the Americas, EMEA and Asia Pacific. Its corporate lineage traces back more than 160 years to Germany, where it runs the world's longest-running carbon black plant. The company is Luxembourg-incorporated. It is exposed to carbon black oil feedstock and natural gas price volatility, European emission allowance regimes, and tire import dynamics in North America and Europe. Orion carries significant leverage, with net debt of about $918 million and net leverage of 4.1x as of September 30, 2026. It is currently evaluating its production network with a focus on underperforming assets. Updated
The earnings miss came with a cushion: roughly $17 million of net benefit from European emission allowance timing, so the underlying quarter was thinner than it looks. Management still tightened 2026 EBITDA guidance to $190 to $200 million and raised the midpoint, while net leverage climbed to 4.1x. A review of underperforming plants is now on the table.
Orion S.A. (NYSE: OEC), formerly Orion Engineered Carbons, is a specialty chemical company that produces carbon black, a solid form of carbon made as powder or pellets to customer specifications.
The Wall Street consensus 12-month price target for OEC is $6.31.