$OEC

Orion Engineered Carbons S.a r.l.

CIK:0001609804|SEC Filings

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Net sales	$ 500.9	$ 466.4	$ 960.4	$ 944.1
Cost of sales	407.9	368.0	788.2	747.6
Gross profit	93.0	98.4	172.2	196.5
Selling, general and administrative expenses	62.7	57.7	121.8	116.1
Research and development costs	7.2	6.5	14.5	13.1
Other expenses, net	1.8	2.1	3.2	4.0
Income from operations	21.3	32.1	32.7	63.3
Interest and other financial expense, net	16.3	19.1	31.0	32.8
Income before earnings in affiliated companies and income taxes	5.0	13.0	1.7	30.5
Income tax expense	3.4	4.6	10.1	13.5
Earnings in affiliated companies, net of tax	0.2	0.6	0.3	1.1
Net income (loss)	$ 1.8	$ 9.0	$ (8.1)	$ 18.1
Weighted-average shares outstanding (in thousands):
Basic (in shares)	56,292	56,153	56,333	56,603
Diluted (in shares)	57,271	56,320	56,333	56,829
Earnings (loss) per share:
Basic (in USD per share)	$ 0.03	$ 0.16	$ (0.14)	$ 0.32
Diluted (in USD per share)	$ 0.03	$ 0.16	$ (0.14)	$ 0.32

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net income (loss)	$ (8.1)	$ 18.1
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation of property, plant and equipment and amortization of intangible assets and right of use assets	65.6	63.5
Amortization of debt issuance costs	2.4	0.8
Share-based compensation	4.4	6.3
Deferred taxes	7.9	(17.5)
Foreign currency transactions	3.4	(8.3)
Changes in operating assets and liabilities, net:
Trade receivables	(91.6)	(39.7)
Inventories	(4.3)	26.9
Trade payables	46.3	(1.1)
Other provisions	26.4	(10.6)
Income tax liabilities	(15.6)	6.3
Other assets and liabilities, net	(21.9)	9.4
Net cash provided by operating activities	14.9	54.1
Cash flows from investing activities:
Acquisition of property, plant and equipment	(61.5)	(71.4)
Net cash used in investing activities	(61.5)	(71.4)
Cash flows from financing activities:
Repayments of long-term debt	(14.3)	(4.4)
Payments for debt issue costs	(4.7)	0.0
Cash inflows related to current financial liabilities	122.0	97.8
Cash outflows related to current financial liabilities	(62.5)	(52.2)
Dividends paid	(2.3)	(2.4)
Repurchase of Common stock	(0.8)	(24.8)
Net cash provided by financing activities	37.4	14.0
Decrease in cash, cash equivalents and restricted cash	(9.2)	(3.3)
Cash, cash equivalents and restricted cash at the beginning of the period	61.2	44.7
Effect of exchange rate changes on cash	0.3	2.7
Cash, cash equivalents and restricted cash at the end of the period	52.3	44.1
Less restricted cash at the end of the period	1.5	1.5
Cash and cash equivalents at the end of the period	$ 50.8	$ 42.6

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Current assets
Cash and cash equivalents	$ 50.8	$ 60.7
Accounts receivable, net	300.4	213.6
Inventories, net	275.5	277.3
Income tax receivables	30.3	25.3
Prepaid expenses and other current assets	76.6	66.9
Total current assets	733.6	643.8
Property, plant and equipment, net	1,045.4	1,069.6
Right-of-use assets	129.5	125.8
Intangible assets, net	9.9	14.2
Investment in equity method affiliates	13.6	13.1
Deferred income tax assets	28.3	20.5
Other assets	26.7	20.6
Total non-current assets	1,253.4	1,263.8
Total assets	1,987.0	1,907.6
Current liabilities
Accounts payable	218.0	197.0
Current portion of long-term debt and other financial liabilities	356.8	305.0
Accrued liabilities	74.3	50.1
Income taxes payable	8.5	20.2
Other current liabilities	58.0	54.1
Total current liabilities	715.6	626.4
Long-term debt, net	652.9	674.5
Employee benefit plan obligation	57.4	58.4
Deferred income tax liabilities	43.1	28.0
Other liabilities	137.7	135.7
Total non-current liabilities	891.1	896.6
Commitments and contingencies
Stockholders' equity
Common stock	85.3	85.3
Treasury stock, at cost, 4,469,560 and 4,837,465 shares	(78.0)	(90.8)
Additional paid-in capital	71.1	80.2
Retained earnings	370.6	382.2
Accumulated other comprehensive loss	(68.7)	(72.3)
Total stockholders' equity	380.3	384.6
Total liabilities and stockholders' equity	$ 1,987.0	$ 1,907.6