Orion revenue +7.4% as Rubber Carbon Black EBITDA collapses 61% on contract pricing pressure

Filed August 5, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 6, 2025 · ~2 min read

Key Changes

• high

  Rubber Carbon Black Adjusted EBITDA fell 61% to $19.2M (Q2) on unfavorable annual contract pricing (22-23% impact), unfavorable raw material pass-through (15-20%), and regional mix headwinds (14-16%). Operating income down 34% to $21.3M.

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

  Iran-U.S. Conflict drove severe crude oil supply disruptions and feedstock cost spikes. Company now discloses conflict-specific risks: shipping route disruptions (Persian Gulf, Red Sea), expanded sanctions reducing global supply, and uncertain duration/escalation.

  Risk Factors: Iran-U.S. Conflict verify on EDGAR →
• high

  Free cash flow deteriorated to negative $46.6M ($ 500.9, six months) from negative $17.3M prior year, as operating cash flow fell to $14.9M from $54.1M despite large accounts receivable factoring ($197.3M vs. $228.2M).

  MD&A: Liquidity verify on EDGAR →