Orion Q3 2026 net loss narrows 95% year over year to $3.1 million
OEC•Orion’s third-quarter 2026 net loss narrowed 95% year over year to $3.1 million. Adjusted EBITDA rose 16% to $66.8 million, free cash flow was $46 million, and the company narrowed its 2026 adjusted EBITDA guidance to $190 million–$200 million.
1. Quarterly results and outlook
Orion reported third-quarter adjusted EBITDA of $66.8 million, up 16% year over year, including an approximately $17 million benefit from the timing of European emission allowances. Quarterly free cash flow, a non-GAAP measure, reached $46 million following continued progress on structural working capital improvements. The company narrowed its 2026 adjusted EBITDA guidance to $190 million–$200 million, with a higher midpoint.
2. Production network review
Management is evaluating the production network with a focus on underperforming assets. Local tire manufacturing has yet to recover in North America and Europe.
