Orion Engineered Carbons(US:OEC)2022-02-18 13:20Financial Performance - 2021 Overview - The company's full year Adjusted EBITDA was $268.4 million, a 34.2% year-over-year increase[6] - Fourth quarter Adjusted EBITDA decreased by 20.8% to $52.3 million due to lower volumes[6] - Adjusted EPS for the full year 2021 was $1.73, compared to $1.04 in 2020[20] Fourth Quarter 2021 Performance Drivers - 4Q21 revenue increased by 24.4% year-over-year to $392.7 million, primarily driven by passing through higher feedstock costs[12] - 4Q21 volume decreased by 6.2% year-over-year to 223.1 kmt[12] - Adjusted EBITDA margin for 4Q21 was 13.3%, a decrease of 760 bps year-over-year[12] - Adjusted net income for 4Q21 decreased by 55.4% year-over-year to $10.7 million[12] Specialty Carbon Black - Specialty Carbon Black 4Q21 volume decreased by 8.6% year-over-year to 59.8 kmt[27] - Specialty Carbon Black 4Q21 Adjusted EBITDA decreased by 22.3% year-over-year to $30.3 million[27] - Specialty Carbon Black 4Q21 Adjusted EBITDA margin was 20.5%, a decrease of 1010 bps year-over-year[27] Rubber Carbon Black - Rubber Carbon Black 4Q21 volume decreased by 5.3% year-over-year to 163.3 kmt[35] - Rubber Carbon Black 4Q21 Adjusted EBITDA decreased by 18.5% year-over-year to $22.0 million[35] - Rubber Carbon Black 4Q21 Adjusted EBITDA margin was 9.0%, a decrease of 530 bps year-over-year[35] Financial Guidance for 2022 - The company provided Adjusted EBITDA guidance in a range of $300 million to $325 million for 2022[40, 42] - The company provided Adjusted EPS guidance in a range of $1.90 to $2.20 per share for 2022[21, 40, 42] - Capital expenditures for 2022 are expected to be between $225 million and $240 million[40]