Orion Engineered Carbons (NYSE: OEC) reported Q1 EPS of EUR0.36, versus EUR0.28 reported last year. Revenue for the quarter came in at EUR304.3 million, versus EUR246 million reported last year.

2017 Full Year Outlook

“Our markets continue to show the strength we anticipated for 2017. Our facilities are mostly running at high operating rates in the environment where we believe industry-wide utilizations are tight or tightening. This seems especially the case for our specialty grades and for higher grade Technical Rubber Goods,” stated Mr. Clem. “As a result, we are reiterating our outlook for full year Adjusted EBITDA of between €220 million and €240 million for 2017, based on the assumptions that volume growth will be in line with current GDP expectations and that oil prices, exchange rates and feedstock impacts will be at average levels seen during the first quarter of 2017. Our cash generation remains robust and clearly sufficient to support our capital program and dividend policy. This was strengthened even more with the successful re-pricing of our long term debt last month.”

Other guidance metrics for 2017, also unchanged, include shares outstanding of 59.3 million, an underlying tax rate of about 35% on pre-tax income, and capital expenditures reflecting an operating run rate consistent with the past of approximately €60 million but depending on the timing of certain expenditures a total potentially rising to over €80 million due to the expenditures associated with the consolidation of the Company’s plants in Korea. Depreciation is estimated to be approximately €60 million, and amortization is estimated to be approximately €20 million (including amortization of acquired intangibles of about €13 million) in 2017.

For earnings history and earnings-related data on Orion Engineered Carbons (OEC) click here.