Orion S.A. reports Q3 adjusted EPS 26c, consensus 25c

Reports Q3 revenue $450.9M, consensus $420.95M. “Persistent macro uncertainty and challenges specific to our tire industry customer base affected our financial performance in the third quarter, as did lower oil prices and our efforts to extract cash from working capital. Product and geographic mix also impacted results. Consequently, our third quarter Adjusted EBITDA was lower sequentially, below expectations,” stated Corning Painter, Chief Executive Officer. “Considering elevated import levels, excess tire channel inventories remain a demand overhang through the remainder of this year,” continued Painter. “We continue to believe the evolving global trade paradigm including tariffs should ultimately support our tire customers. Despite that, we are intensifying our internal efforts to improve Orion’s competitiveness and to navigate the current backdrop.”