Orion Engineered Carbons S.A. Announces Second Quarter Financial Results
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Orion Engineered Carbons (OEC) Tops Q2 EPS by 9c, Revenues Beat
August 4, 2020 5:23 PM EDTOrion Engineered Carbons (NYSE: OEC) reported Q2 EPS of ($0.14), $0.09 better than the analyst estimate of ($0.23). Revenue for the quarter came in at $202.6 million versus the consensus estimate of $180.02 million.
Second Quarter 2020 Highlights
Continued focus on protecting employees, maintaining agile production and managing costsGenerated $85.7 million of operating cash flow despite sharply lower volumes and profitability, reflecting a $77.3 million working capital reduction, providing a countercyclical, stabilizing impact on resultsEstablished $45 million in additional ancillary credit lines under revolving credit facility, contributing to a $86 million sequential increase in liquidity accessible at any net leverage level... More