Orion Engineered Carbons S.A. Announces First Quarter 2020 Financial Results

HOUSTON–(BUSINESS WIRE)–Orion Engineered Carbons S.A. (NYSE: OEC), a global supplier of specialty and high-performance carbon black, today announced its first quarter 2020 financial results.

First Quarter 2020 Highlights

  • Rapidly implemented business continuity plan and took actions to protect our employees and our production capability, support our customers, ensure supply chain stability and enhance our financial standing
  • Enhanced financial flexibility by suspending dividend and bolstering cash position
  • Net sales of $336.0 million compared to $384.7 million in the first quarter of 2019
  • Net Income of $18.0 million and basic EPS of $0.30 compared to $19.0 million and $0.32 in the first quarter of 2019
  • Adjusted EBITDA1 of $63.8 million compared to $64.6 million in the first quarter of 2019
  • Adjusted Net Income of $26.6 million and Adjusted EPS1 of $0.44 compared to $23.8 million and $0.40 in the first quarter of 2019
  • Leverage ratio of 2.49x LTM Adjusted EBITDA compared to 2.28x at year-end 2019

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