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Orion's Specialty Segment Posts Best Quarter Since 2022. Rubber Is the Problem.

8/9/2026

The headline number from Orion's second quarter looks like progress. Adjusted EBITDA of $58 million was up 26% sequentially.

The complication: that same figure is down 15% from a year earlier, and the business carrying the drag (the Rubber segment) shows no near-term fix on the contractual side.

Specialty does the heavy lifting Specialty adjusted EBITDA reached $39 million in Q2 2026, the segment's best quarterly result since early 2022 and a 96% gain year over year.

Chief Financial Officer Jon Puckett attributed the increase to a 5% rise in Specialty volumes, proactive pricing actions and a favorable product mix.