Orion S.A. (OEC) reported second-quarter 2026 net sales of $501 million, up 7% from the prior year. Net income was $2 million, and adjusted EBITDA was $58 million, a 26% sequential improvement.
The company said demand strengthened late in the first quarter and continued through the second quarter, particularly in higher-margin Western regions, while Asia was softer. Orion reaffirmed its 2026 adjusted EBITDA guidance range of $170 million to $210 million and increased its full-year free cash flow guidance range.
- Second-quarter net sales were $500.9 million, compared with $466.4 million a year earlier.
- Net income was $1.8 million, down from $9.0 million in the prior-year quarter.
- Basic and diluted EPS were each $0.03, compared with $0.16 a year earlier.
- Operating cash flow was $27 million, and free cash flow was $2 million in the quarter.
- Orion ended the quarter with net debt of $961 million, liquidity of $178 million and a net debt-to-adjusted EBITDA ratio of 4.4x.
- The company expects 2026 capital expenditures of $90 million.
$OEC Hedge Fund Activity
We have seen 98 institutional investors add shares of $OEC stock to their portfolio, and 69 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- BROWN ADVISORY INC removed 2,092,665 shares (-98.6%) from their portfolio in Q1 2026, for an estimated $13,602,322
- AQR CAPITAL MANAGEMENT LLC added 1,079,916 shares (+123.5%) to their portfolio in Q1 2026, for an estimated $7,019,454
- DIVISAR CAPITAL MANAGEMENT LLC added 824,907 shares (+30.1%) to their portfolio in Q1 2026, for an estimated $5,361,895
- INVENOMIC CAPITAL MANAGEMENT LP removed 642,789 shares (-100.0%) from their portfolio in Q1 2026, for an estimated $4,178,128
- MACKENZIE FINANCIAL CORP added 625,920 shares (+inf%) to their portfolio in Q1 2026, for an estimated $4,068,480
- QUBE RESEARCH & TECHNOLOGIES LTD removed 620,644 shares (-91.5%) from their portfolio in Q1 2026, for an estimated $4,034,186
- FULLER & THALER ASSET MANAGEMENT, INC. added 589,752 shares (+73.9%) to their portfolio in Q1 2026, for an estimated $3,833,388
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.
