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

Read the source article at businesswire.com

LyondellBasell Provides Estimated First Quarter 2020 Financial Results and Operational Update

curata__2ePI07nZijwJRug.jpeg

LyondellBasell Provides Estimated First Quarter 2020 Financial Results and Operational Update News provided by Apr 15, 2020, 08:55 ET Share this article HOUSTON and LONDON , April 15, 2020 /PRNewswire/ — LyondellBasell (NYSE: LYB ), one of the largest plastics, chemicals and refining companies in the world, today announced estimated first quarter financial results and provided an operational update. First quarter 2020 net income is expected to be in the range of $110 million to $180 million .

Read the source article at PR Newswire

Cooper Tire: 4Q Earnings Snapshot

FINDLAY, Ohio (AP) _ Cooper Tire & Rubber Co. (CTB) on Monday reported fourth-quarter net income of $51.3 million, after reporting a loss in the same period a year earlier. The Findlay, Ohio-based company said it had net income of $1.02 per share. The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 67 cents per share.

Read the source article at Yahoo News Phillipines

Italian tiremaker Pirelli maps route to margin growth – Reuters

MILAN (Reuters) – Italian tiremaker Pirelli (PIRC.MI) will focus on its premium products and cost-cutting measures to drive a gradual increase in core profit margins over the next two years. Announcing its strategic plan after reporting annual results on Wednesday, the group said its margin on adjusted earnings before interest and tax (EBIT) would rise to between 18% and 19% through 2022, up from 17.2% last year.

Read the source article at reuters.com

Yokohama reports 9% increase in profits

Tokyo – The Yokohama Rubber Co. (YRC) has reported higher sales and operating profit for the year 2019, helped by its ATG heavy tires unit and its non-tire business.

Sales edged up slightly over the year, to Yen650.5 billion (€5.4 billion), while operating profit increased 9.5%, to Yen58.6 billion, Yokohama reported 14 Feb.

The Tokyo-based company linked the strong growth in operating profit to a first-quarter gain on the sale of fixed assets.

Read the source article at European Rubber Journal

Cabot Corp (CBT) Q1 2020 Earnings Call Transcript

CBT earnings call for the period ending December 31, 2019. Feb 4, 2020 at 7:00PM …

Steve Delahunt — Vice President of Treasury and Investor Relations

Thank you, and good afternoon. I’d like to welcome you to the Cabot Corporation earnings teleconference. With me today are Sean Keohane, CEO and President; and Erica McLaughlin, Senior Vice President and CFO.

Last night, we released results for our first quarter of fiscal year 2020, copies of which are posted in the Investor Relations section of our website. 

Read the source article at Fool.com

Trelleborg profitability down, despite higher sales

curata__JfEIMmKXcPMyh06.jpeg

TRELLEBORG, Sweden—Trelleborg has reported a 6.4 percent year-on-year decline in earnings for the third quarter of 2019, despite higher sales.

Read the source article at Rubber and Plastics News

Pirelli cuts guidance, delays business plan in worsening scenario

Adding to a string of auto parts suppliers hit by prolonged industry weakness, Pirelli said it forecast a full-year margin on its adjusted earnings before interest and taxes (EBIT) between 17% and 17.5% versus an already lowered previous target of 18-19%.

Pirelli, which makes tyres for Formula One racing teams and premium automakers such as BMW and Audi, said in a statement it cut its guidance after facing greater fixed costs as it lowered production to reduce inventories.

Read the source article at Stock Market Quotes and News

Goodyear posts double-digit income drops in Q3, year-to-date

curata__WNxVHGdO6NaKrj5.jpeg

AKRON — Goodyear reported double-digit declines in operating income for the three- and nine-month periods ended Sept. 30 on the negative effects of lower sales volumes, higher raw materials costs and other factors.

Read the source article at Tire Business

Cooper Q3 operating income drops 35% on lower sales

curata__SAcG7sFIgfqZ9nV.jpeg

FINDLAY, Ohio — Cooper Tire & Rubber Co. posted double-digit drops in operating income for the three- and nine-month periods ended Sept. 30 due on part of the negative effects higher costs related to U.S. import duties on Chinese products and higher manufacturing costs.

Read the source article at Tire Business