Orion Q1 2026: $9.9M net loss as Rubber EBITDA falls 53% on pricing/mix; Iran conflict risks feedstock

Filed May 6, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 7, 2025 · ~2 min read

Key Changes

• high

  Net income swung from $9.1M profit in Q1 2025 to $9.9M loss in Q1 2026, a $19.0M deterioration driven by unfavorable pricing, product/regional mix, and raw-material pass-through timing.

  MD&A: Net Income verify on EDGAR →
• high

  Rubber Carbon Black segment Adjusted EBITDA collapsed 53.4% year-over-year to $19.0M, hit by unfavorable raw-material pass-through timing, lower contractual pricing, and adverse regional customer mix.

  MD&A: Rubber Segment verify on EDGAR →
• high

  Operating cash flow turned negative at $12.4M used vs. $0.4M provided in Q1 2025; free cash flow worsened to negative $48.5M from negative $28.8M, reflecting underlying working-capital consumption and weaker earnings.

  MD&A: Cash Flow verify on EDGAR →