Orion publishes third-quarter 2026 earnings call transcript
OEC•Orion raised the midpoint of its 2026 adjusted EBITDA guidance and expects higher adjusted EBITDA in 2027. Third-quarter adjusted EBITDA rose 16% to $67 million, free cash flow was $46 million, and net leverage fell to 4.1 times.
1. Quarterly results and outlook
Orion’s November 5 earnings call featured CEO Corning Painter, CFO Jonathan Puckett and investor-relations vice president Christopher Kapsch. Management raised the midpoint of its 2026 adjusted EBITDA guidance, reaffirmed free cash flow guidance and expects higher adjusted EBITDA in 2027. Third-quarter adjusted EBITDA rose 16% to $67 million, including a $17 million timing benefit from annual European emissions allowances; free cash flow reached $46 million, and net leverage fell to 4.1 times from 4.4 times in the previous quarter.
2. Fourth-quarter factors
Fourth-quarter earnings face customer destocking, heavier plant turnaround costs and lower annual rubber contract pricing. Turnaround activity is concentrated in specialty.
