SENNINGERBERG, Luxembourg (AP) _ Orion Engineered Carbons SA (OEC) on Thursday reported second-quarter net income of $24.7 million.
The Senningerberg, Luxembourg-based company said it had profit of 40 cents per share. Earnings, adjusted for one-time gains and costs, came to 52 cents per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 53 cents per share.
The producer of the chemcial additive carbon black posted revenue of $399 million in the period.
Orion Engineered Carbons shares have dropped 28% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $18.17, a decrease of 44% in the last 12 months.