Orion
Produces reinforcing and specialty carbon black for tires, polymers, coatings and battery electrodes.
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Profile
Two segments split roughly two-thirds tire-reinforcing carbon black and one-third specialty grades for polymers, coatings, printing inks and battery electrodes. Manufacturing spans plants on five continents, including the only major carbon-black site in Sub-Saharan Africa, with a new US plant under construction for lithium-ion battery additives.
Two segments: Rubber Carbon Black, reinforcing grades for tires and mechanical rubber goods including low-rolling-resistance ECORAX blends; and Specialty Carbon Black, additives that pigment, UV-protect or electrically conduct in polymers, coatings, inks and battery electrodes. Rubber contributes roughly two-thirds of revenue.
The Cologne-area production site has operated continuously since 1862, the industry's longest such run, while the corporate entity behind the ticker is far newer — carved out of Evonik in 2011 and listed on the NYSE in 2014.
Manufacturing spans plants on five continents, including the only major carbon-black site in Sub-Saharan Africa, with a new Texas plant under construction for battery conductive additives.
Rubber-segment volumes depend on Western tire-manufacturing output, which import competition has recently pressured.
Company facts
Key statistics
Year to date +20.7% · Average volume (30d) 452.8K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| May 8, 2026 | UBS | Reiterate | Neutral | $6.50 | $7.50 | |
| Feb 18, 2026 | UBS | Reiterate | Neutral | $6 | $6.50 | |
| Feb 18, 2026 | Mizuho Securities | Target | $6 | $5.25 | ||
| Jan 12, 2026 | UBS | Reiterate | Neutral | $7 | $6 | |
| Oct 20, 2025 | Mizuho Securities | Target | $7 | $6 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 5, 2026Q2 FY26 | $0.11 | $0.14 | +27.3% | $474.4M | $500.9M | +5.6% | +15.85% |
| May 6, 2026Q1 FY26 | $0.09 | −$0.11 | −220.6% | $434.3M | $459.5M | +5.8% | −12.68% |
| Feb 17, 2026Q4 FY25 | −$0.08 | −$0.34 | −325.0% | $365.7M | $411.7M | +12.6% | +13.24% |
| Nov 4, 2025Q3 FY25 | $0.36 | $0.29 | −19.4% | $365.8M | $450.9M | +23.3% | −8.16% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $477.7M | $466.4M | $450.9M | $411.7M | $459.5M | $500.9M | |
| Gross profit | $98.1M | $98.4M | $85.6M | $77.7M | $79.2M | $93.0M | |
| Operating income | $33.1M | $34.2M | $21.2M | $13.1M | $12.8M | $21.3M | |
| Net income | $9.1M | $9.0M | −$67.1M | −$21.1M | −$9.9M | $1.8M | |
| Diluted EPS | $0.16 | $0.16 | −$1.20 | −$0.38 | −$0.18 | $0.03 | |
| Gross margin | 20.5% | 21.1% | 19.0% | 18.9% | 17.2% | 18.6% | |
| Operating margin | 6.9% | 7.3% | 4.7% | 3.2% | 2.8% | 4.3% |
Fiscal years (4-quarter sums)FY21 $1.55B · FY22 $2.03B · FY23 $1.89B · FY24 $1.88B · FY25 $1.81B
Revenue by product · Q2 FY26
Revenue by geography · FY25
Balance sheet, Jun 30, 2026Cash & short-term investments $50.8M · Total debt $1.01B · Total assets $1.99B · Shareholders' equity $380.3M
Dividends
Raised for 3 straight years — most recently to $0.0207 from $0.02 in Mar 2022. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jul 6, 2026 | Jul 6 | Oct 7 | $0.0207 | |
| Jun 10, 2026 | Jun 10 | Jul 2 | $0.0207 | |
| Mar 12, 2026 | Mar 12 | Apr 2 | $0.0207 | |
| Dec 12, 2025 | Dec 12 | Jan 20 | $0.0207 | |
| Jul 7, 2025 | Jul 7 | Oct 8 | $0.0207 | |
| Jun 11, 2025 | Jun 11 | Jul 2 | $0.0207 | |
| Mar 13, 2025 | Mar 13 | Apr 4 | $0.0207 | |
| Dec 13, 2024 | Dec 13 | Jan 21 | $0.0207 |
Ownership
Institutions and insiders are filed separately and overlap, so together they can pass the whole company. No split is drawn from them.
Shares outstanding 56.39M · Float 50.96M · 90.4% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Pzena Investment Management LLC | 4.77M | 8.46% | 13F | Aug 7, 2026 |
| BlackRock, Inc. | 4.21M | 7.46% | 13F | Aug 7, 2026 |
| Divisar Capital Management LLC | 3.38M | 6.00% | 13F | Aug 14, 2026 |
| American Century Companies, Inc. | 3.20M | 5.70% | 13G | Aug 14, 2026 |
| Divisar Partners QP, L.P. | 2.84M | 5.00% | 13G | Feb 26, 2026 |
Insider tradesForm 4
No open-market trades in the last 12 months.
View detailsPeers
- Cabot
Head-to-head across rubber and specialty carbon black, plus battery materials
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Orion | $6.35 | 0.00% | $357.5M | — | 18.2 | 0.2 | +7.4% |
| Cabot | $83.65 | −0.12% | $4.32B | 23.3 | 12.5 | 1.2 | +6.4% |
| Median | 23.3 | 12.5 | 1.2 | +6.4% |