Orion Engineered sees FY23 adjusted EPS $2.30-$2.60, consensus $2.55

"For full year 2023, despite all the uncertainties in the global economy, we are projecting an Adjusted EBITDA range of $350 million to $380 million, up 17 percent at the midpoint compared with 2022. Additionally, we are projecting full year 2023 Adjusted EPS of $2.30 to $2.60, up 25 percent at the midpoint. We expect free cash flow of approximately $100 million in 2023. This is a clear step towards realizing our 2025 goal of a mid-cycle Adjusted EBITDA earnings capacity of $500 million. On a full year basis, we are assuming foreign exchange at a rate equivalent to 2022 ($1.05/Euro) and Brent oil prices of $80 per barrel in our base guidance range. Compared to a quarter ago, we anticipate a slight weakening in miles driven but greater improvement in our specialty markets," Mr. Painter concluded.