Orion (OEC) Q2 Earnings and Revenues Lag Estimates

Core Insights - Orion (OEC) reported quarterly earnings of $0.41 per share, missing the Zacks Consensus Estimate of $0.59 per share, and down from $0.53 per share a year ago, representing an earnings surprise of -30.51% [1] - The company posted revenues of $477 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 3.94%, but up from $458.8 million year-over-year [2] - Orion shares have declined approximately 11.2% year-to-date, contrasting with the S&P 500's gain of 15.8% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.54 on revenues of $503.78 million, and for the current fiscal year, it is $2.13 on revenues of $1.98 billion [7] - The estimate revisions trend for Orion is currently favorable, leading to a Zacks Rank 2 (Buy) for the stock, indicating expected outperformance in the near future [6] Industry Context - The Chemical - Specialty industry, to which Orion belongs, is currently ranked in the top 30% of over 250 Zacks industries, suggesting a positive outlook for stocks within this sector [8]