Orion Engineered reports Q2 adjusted EPS 41c, consensus 56c

Reports Q2 revenue $477M, consensus $491.24M. “Orion executed against a more challenging than contemplated backdrop in the second quarter of 2024, including softer Rubber segment demand and mixed macro trends globally. Still, our Specialty segment’s ongoing earnings recovery is encouraging, including strong double-digit volume growth and our Rubber segment’s profitability remained relatively steady. Bigger picture, we remain confident in the durability of the industry’s improved fundamentals, Orion-specific initiatives and the company’s medium-term earnings trajectory,” stated Corning Painter, Orion’s Chief Executive Officer.