OEC Q2 2019 Earnings Report — Orion Engineered Carbons S.A. Revenue & Financial Results | Market Cap Arena

Orion Engineered Carbons S.A.OEC

Q2 2019 Earnings

Reported October 31, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q2 2019	Q1 2019	Q2 2018	QoQ Change	YoY Change
Revenue	$399M	$385M	$392M	3.7%	1.9%
Op. Income	$47M	$37M	$54M	26.1%	-12.9%
Gross Margin	26.1%	25.5%	28.8%	0.6pp	-2.7pp
Net Margin	6.2%	4.9%	13.6%	1.3pp	-7.4pp
EPS (Diluted)	$0.40	$0.31	$0.87	29.0%	-54.0%
Free Cash Flow	$8M	$4M	-$17M	111.9%	146.5%

Revenue Flow

Item	Amount
REVENUE	$399M
Cost of Revenue	$295M
GROSS PROFIT	$104M
R&D Expenses	$5M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$52M
Other Expenses	$0
Operating Expenses	$57M
Cost & Expenses	$352M
OPERATING INCOME	$47M
Interest Income	$0
Interest Expense	$8M
Other Income/Expenses	-$13M
INCOME BEFORE TAX	$34M
Income Tax Expense	$9M
Net Income from Continuing Ops	$25M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$25M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$25M
D&A	$25M
EBIT	$39M
EBITDA	$65M
EPS	$0
EPS Diluted	$0

Income Statement

Item	Amount
REVENUE	$399M
Cost of Revenue	$295M
GROSS PROFIT	$104M
R&D Expenses	$5M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$52M
Other Expenses	$0
Operating Expenses	$57M
Cost & Expenses	$352M
OPERATING INCOME	$47M
Interest Income	$0
Interest Expense	$8M
Other Income/Expenses	-$13M
INCOME BEFORE TAX	$34M
Income Tax Expense	$9M
Net Income from Continuing Ops	$25M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$25M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$25M
D&A	$25M
EBIT	$39M
EBITDA	$65M
EPS	$0
EPS Diluted	$0

Cash Flow Statement

Item	Amount
Net Income	$25M
Depreciation & Amortization	$25M
Stock-Based Compensation	$2M
Deferred Income Tax	$849.7K
Other Non-Cash Items	$2M
Change in Working Capital	-$8M
OPERATING CASH FLOW	$46M
Capital Expenditure	-$38M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$0
NET CASH FROM INVESTING	-$38M
Net Debt Issuance	$3M
Common Stock Repurchased	$0
Common Dividends Paid	-$12M
Other Financing Activities	$0
NET CASH FROM FINANCING	-$15M
FREE CASH FLOW	$8M
Net Change in Cash	-$8M

Balance Sheet

Item	Amount
Cash & Equivalents	$53M
Short-Term Investments	$7M
Net Receivables	$298M
Inventory	$174M
Other Current Assets	$0
TOTAL CURRENT ASSETS	$566M
PP&E (Net)	$501M
Goodwill	$55M
Intangible Assets	$85M
Long-Term Investments	$8M
Tax Assets	$56M
Other Non-Current Assets	$5M
TOTAL NON-CURRENT ASSETS	$710M
TOTAL ASSETS	$1.3B
Account Payables	$164M
Short-Term Debt	$60M
Deferred Revenue	$61M
Other Current Liabilities	$52M
TOTAL CURRENT LIABILITIES	$319M
Long-Term Debt	$638M
Deferred Revenue NC	$61M
Deferred Tax Liabilities	$47M
Other Non-Current Liabilities	$80M
TOTAL NON-CURRENT LIABILITIES	$789M
TOTAL LIABILITIES	$1.1B
Common Stock	$85M
Additional Paid-In Capital	$61M
Retained Earnings	$59M
Treasury Stock	-$9M
Accum. Other Comp. Income	-$30M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$167M
Minority Interest	$0
TOTAL EQUITY	$167M
TOTAL LIABILITIES & EQUITY	$1.3B
Total Debt	$729M
Net Debt	$676M