Orion SA

Q2 FY2026 EarningsQ2 FY26 results were mixed with a top-line beat but significant earnings miss. Revenue reached $500.9M, exceeding consensus by 5.59%, driven by 17% growth in the Specialty segment and higher oil-pass-through pricing. However, Adjusted Diluted EPS of $0.14 missed expectations of $0.15, as a 61% YoY drop in Rubber segment Adjusted EBITDA—due to weaker pricing and volume headwinds—offset a 96% surge in the Specialty segment. Management reaffirmed its full-year Adjusted EBITDA guidance and significantly raised free cash flow guidance by $43M at the midpoint.