--- title: "Orion SA | 8-K: FY2026 Q2 Revenue Beats Estimate at USD 500.9 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/295018643.md" datetime: "2026-08-05T21:24:26.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/295018643.md) - [en](https://longbridge.com/en/news/295018643.md) - [zh-HK](https://longbridge.com/zh-HK/news/295018643.md) generator: "portal-rs" --- # Orion SA | 8-K: FY2026 Q2 Revenue Beats Estimate at USD 500.9 M Revenue: As of FY2026 Q2, the actual value is USD 500.9 M, beating the estimate of USD 474.4 M. EPS: As of FY2026 Q2, the actual value is USD 0.03. EBIT: As of FY2026 Q2, the actual value is USD 21.3 M. ### Second Quarter 2026 Financial Highlights #### Net Sales Orion S.A. reported total Net sales of $500.9 million for the second quarter of 2026, an increase from $466.4 million in the prior year’s quarter. This was driven by 9% higher average year-over-year oil prices and 2% favorable foreign currency translation, partially offset by 2% lower pricing, 1% reduced volumes, and adverse product mix in the Rubber Carbon Black segment . **Specialty Carbon Black**: Net sales increased to $184.8 million in Q2 2026 from $158.1 million in Q2 2025, a 17% year-over-year increase, attributed to 8% higher pricing, 4% favorable product mix, 3% higher volumes, and a 2% foreign exchange benefit . **Rubber Carbon Black**: Net sales increased to $316.1 million in Q2 2026 from $308.3 million in Q2 2025, a 3% year-over-year increase, driven by 5% higher pricing from pass-through effects of higher oil prices, partially offset by 3% lower volumes and customer mix, with a 3% foreign currency translation benefit . #### Net Income Consolidated Net income for the second quarter of 2026 was $1.8 million, down from $9.0 million in the prior year quarter . #### Adjusted EBITDA Adjusted EBITDA for the second quarter of 2026 was $58.2 million, which is a 26% sequential improvement, but decreased from $68.8 million in Q2 2025 . **Specialty Carbon Black**: Adjusted EBITDA increased by 96% to $39.0 million in Q2 2026 from $19.9 million in Q2 2025, primarily due to beneficial pricing and volume improvement in premium grades and high-margin regions . **Rubber Carbon Black**: Adjusted EBITDA decreased by 61% to $19.2 million in Q2 2026 from $48.9 million in Q2 2025, mainly due to lower contractual pricing agreements for 2026, unfavorable customer mix, and an intentional inventory draw . #### Other Operational Metrics - **Gross Profit**: Gross profit was $93.0 million in Q2 2026, down from $98.4 million in Q2 2025 . - **Income from Operations**: Income from operations was $21.3 million in Q2 2026, compared to $32.1 million in Q2 2025 . - **Selling, General and Administrative Expenses**: These expenses were $62.7 million in Q2 2026, up from $57.7 million in Q2 2025 . - **Research and Development Costs**: These costs were $7.2 million in Q2 2026, compared to $6.5 million in Q2 2025 . - **Interest and Other Financial Expense, Net**: These expenses were $16.3 million in Q2 2026, down from $19.1 million in Q2 2025 . - **Income Tax Expense**: Income tax expense was $3.4 million in Q2 2026, down from $4.6 million in Q2 2025 . - **Cost Saving Initiatives**: Orion S.A. is on track for a full-year benefit of $20 million from ongoing cost-saving initiatives . #### Cash Flow and Balance Sheet - **Operating Cash Flow**: Operating cash flow was $27.3 million in Q2 2026, supported by a $4 million contribution from working capital initiatives . For the six months ended June 30, 2026, net cash provided by operating activities was $14.9 million . - **Capital Expenditures (Capex)**: Capex was $25.4 million in Q2 2026, which was $11 million less than the prior quarter . For the six months ended June 30, 2026, acquisition of property, plant, and equipment was -$61.5 million . The company is on track for full-year capital expenditures of $90 million . - **Free Cash Flow**: Free cash flow was $1.9 million in Q2 2026 . For the six months ended June 30, 2026, free cash flow was -$46.6 million . - **Net Debt**: Net debt was $960.7 million at the end of Q2 2026, compared to $921.2 million at December 31, 2025 . - **Net Debt-to-TTM Adjusted EBITDA Ratio**: The ratio was 4.4x at quarter end, compared to 3.7x at December 31, 2025 . - **Liquidity**: Orion S.A. ended the quarter with liquidity of $178 million . #### Outlook Orion S.A. reaffirmed its 2026 Adjusted EBITDA guidance range of $170 million to $210 million . The company increased its full-year free cash flow guidance range to an outflow of -$10 million to a positive free cash flow of $20 million . This represents a $43 million improvement at the midpoint compared to prior guidance, attributed to successful working capital efforts and expected easing of global oil prices in the second half of the year . ### Related Stocks - [OEC.US](https://longbridge.com/en/quote/OEC.US.md) ## Related News & Research - [OEC: Global carbon black leader with resilient earnings, strong cash flow, and high-growth outlook](https://longbridge.com/en/news/297611083.md) - [Analyst Maintains Buy on iX Biopharma, Sees Post-FY26 Transition Driving Strong FY27+ Rebound and Keeps DCF-Based S$1.00 Target Price](https://longbridge.com/en/news/297658944.md) - [OEC: Net sales rose 7% but net income fell 80% as oil-driven cost pressures hit margins](https://longbridge.com/en/news/295018733.md) - [Orion Shareholders Approve 2026 Governance and Auditors](https://longbridge.com/en/news/291190624.md) - [Orion holds annual shareholder meeting](https://longbridge.com/en/news/291187333.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**