Orion Engineered Carbons: 2Q Earnings Snapshot
Posted August 4, 2020 5:06 pm.
Last Updated August 4, 2020 5:08 pm.
HOUSTON (AP) _ Orion Engineered Carbons SA (OEC) on Tuesday reported a second-quarter loss of $17.8 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Houston-based company said it had a loss of 29 cents. Losses, adjusted for non-recurring costs, were 14 cents per share.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 12 cents per share.
The producer of the chemcial additive carbon black posted revenue of $202.6 million in the period.
Orion Engineered Carbons shares have dropped 45% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $10.63, a decline of 24% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on OEC at https://www.zacks.com/ap/OEC
The Associated Press
