OEC FY 2023 Earnings Report — Orion Engineered Carbons S.A. Revenue & Financial Results | Market Cap Arena

Orion Engineered Carbons S.A.OEC

FY 2023 Earnings

Reported February 14, 2024

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$1.9B	—	$2.0B	—	-6.7%
Op. Income	$205M	—	$200M	—	2.3%
Gross Margin	23.8%	—	22.1%	—	1.7pp
Net Margin	5.5%	—	5.2%	—	0.2pp
EPS (Diluted)	$1.73	—	$1.73	—	0.0%
Free Cash Flow	$173M	—	-$152M	—	214.0%

Revenue Flow

Item	Amount
REVENUE	$1.9B
Cost of Revenue	$1.4B
GROSS PROFIT	$451M
R&D Expenses	$25M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$222M
Other Expenses	$0
Operating Expenses	$246M
Cost & Expenses	$1.7B
OPERATING INCOME	$205M
Interest Income	$0
Interest Expense	$51M
Other Income/Expenses	-$41M
INCOME BEFORE TAX	$164M
Income Tax Expense	$60M
Net Income from Continuing Ops	$104M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$104M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$104M
D&A	$113M
EBIT	$212M
EBITDA	$325M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$1.9B
Cost of Revenue	$1.4B
GROSS PROFIT	$451M
R&D Expenses	$25M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$222M
Other Expenses	$0
Operating Expenses	$246M
Cost & Expenses	$1.7B
OPERATING INCOME	$205M
Interest Income	$0
Interest Expense	$51M
Other Income/Expenses	-$41M
INCOME BEFORE TAX	$164M
Income Tax Expense	$60M
Net Income from Continuing Ops	$104M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$104M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$104M
D&A	$113M
EBIT	$212M
EBITDA	$325M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$104M
Depreciation & Amortization	$113M
Stock-Based Compensation	$15M
Deferred Income Tax	$6M
Other Non-Cash Items	-$400.0K
Change in Working Capital	$108M
OPERATING CASH FLOW	$346M
Capital Expenditure	-$173M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$0
NET CASH FROM INVESTING	-$173M
Net Debt Issuance	-$127M
Common Stock Repurchased	-$66M
Common Dividends Paid	-$5M
Other Financing Activities	$0
NET CASH FROM FINANCING	-$197M
FREE CASH FLOW	$173M
Net Change in Cash	-$23M

Balance Sheet

Item	Amount
Cash & Equivalents	$38M
Short-Term Investments	$0
Net Receivables	$284M
Inventory	$287M
Other Current Assets	$22M
TOTAL CURRENT ASSETS	$646M
PP&E (Net)	$936M
Goodwill	$76M
Intangible Assets	$101M
Long-Term Investments	$42M
Tax Assets	$30M
Other Non-Current Assets	$3M
TOTAL NON-CURRENT ASSETS	$1.2B
TOTAL ASSETS	$1.8B
Account Payables	$184M
Short-Term Debt	$137M
Deferred Revenue	$0
Other Current Liabilities	$50M
TOTAL CURRENT LIABILITIES	$440M
Long-Term Debt	$677M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$66M
Other Non-Current Liabilities	$71M
TOTAL NON-CURRENT LIABILITIES	$915M
TOTAL LIABILITIES	$1.4B
Common Stock	$85M
Additional Paid-In Capital	$86M
Retained Earnings	$418M
Treasury Stock	-$70M
Accum. Other Comp. Income	-$40M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$479M
Minority Interest	$0
TOTAL EQUITY	$479M
TOTAL LIABILITIES & EQUITY	$1.8B
Total Debt	$927M
Net Debt	$890M