Welcome to our dedicated page for Olin news (Ticker: OLN), a resource for investors and traders seeking the latest updates and insights on Olin stock.
Olin Corporation (OLN) delivers essential chemical solutions and ammunition products through its vertically integrated operations. This news hub provides investors and industry professionals with comprehensive access to official announcements, strategic developments, and operational updates from the specialty chemicals and defense manufacturing leader.
Track key business activities across Olin's core segments including Chlor Alkali production, epoxy resin innovations, and Winchester ammunition systems. Our curated news collection features earnings reports, facility expansions, product launches, and partnership announcements – all critical for understanding this dual-industry operator.
Discover timely updates on market leadership in chlorine derivatives, caustic soda applications, and defense sector supplies. The archive serves as an objective resource for analyzing Olin's operational strategies, supply chain developments, and responses to industrial market trends.
Bookmark this page for streamlined access to verified Olin Corporation communications. Check regularly for updates impacting chemical sector investments and ammunition industry dynamics.
Olin Corporation (NYSE: OLN) has executed a Third Amendment to its Credit Agreement, increasing its term loan facility by $315 million and lowering borrowing costs. The company plans to redeem $315 million of senior notes due October 15, 2025 at a premium of $15.8 million using the incremental loan and cash reserves. The CEO noted these actions could reduce annual interest expenses by approximately $30 million. Olin anticipates improving its net debt to EBITDA ratio to around 3 times within the next year.
Olin Corporation (NYSE: OLN) declared a quarterly dividend of $0.20 per share, marking its 377th consecutive quarterly dividend. The dividend will be payable on March 10, 2021, to shareholders recorded by March 2, 2021. Olin is a leading manufacturer and distributor of chemical products, including chlorine and caustic soda, as well as a prominent U.S. ammunition producer.
Olin Corporation reported a fourth quarter 2020 net loss of $33 million but an adjusted EBITDA of $246.2 million, up from $173.2 million in the prior year. Sales increased to $1.6541 billion from $1.3871 billion in Q4 2019. The ECU Profit Contribution Index improved by 6%, supported by strong chlorine pricing. Winchester achieved record segment earnings of $44.8 million, driven by commercial and military sales. The cash balance was $189.7 million, and net debt stood at $3.6741 billion. Olin expects improved first quarter 2021 results.
Olin Corporation (NYSE: OLN) has announced a change in the starting time for its senior management team’s review of the fourth quarter 2020 financial results. The call is now scheduled for January 29, 2021, at 9:00 a.m. Eastern time. The company will distribute a press release with financial statements and segment information after market close on January 28, 2021. Interested participants can join the conference call via telephone or through a live webcast on the company’s website, which will also offer a replay post-event.
Olin Corporation (NYSE: OLN) announced plans to cease operations of its Trichloroethylene (Tric) and Anhydrous Hydrogen Chloride (AnHCl) liquefaction facilities in Freeport, Texas, before the end of 2021. This decision is aimed at improving cash flow and reallocating resources towards more profitable operations. The company expects restructuring charges of approximately $2 million in 2021 related to these closures. Olin is transitioning to produce environmentally sustainable refrigerants and stated that current returns from AnHCl do not justify ongoing costs.
Olin Corporation (NYSE: OLN) will host a conference call on January 29, 2021, at 10:00 a.m. Eastern time to discuss its fourth quarter 2020 financial results. A press release with financial statements will be published after market close on January 28, 2021. Interested parties can join the call by dialing (877) 883-0383 or via the webcast on Olin's website. The replay will be available for a year, with a telephonic replay option for 14 days post-call.
Olin Corporation manufactures chemicals and ammunition, offering products such as chlorine and caustic soda.
Olin Corporation (NYSE: OLN) plans to redeem all of its outstanding $120 million 9.75% senior notes due October 15, 2023. The redemption, scheduled for January 15, 2021, will occur at a cash redemption price of 102.438% of the principal amount, equating to a $3.0 million aggregate premium. Olin will utilize $123.0 million from operational cash flow for this redemption, which is expected to save the company approximately $12 million annually in interest expenses.
Olin Corporation (NYSE: OLN) reported a net loss of $736.8 million, or $4.67 per diluted share, for Q3 2020, a stark contrast to the $44.2 million net income from Q3 2019. The adjusted EBITDA was $195.5 million, down from $292.9 million in the previous year. Third-quarter sales decreased to $1,437.6 million from $1,576.6 million in 2019. Despite challenges, Olin's chemicals segment saw a 17% sequential sales increase, while the Winchester segment reported stronger earnings driven by commercial ammunition demand. A dividend of $0.20 per share was declared, marking the 376th consecutive quarterly dividend.
Olin Corporation's Board of Directors declared a $0.20 quarterly dividend, payable on December 10, 2020, for shareholders of record by November 10, 2020. This represents the 376th consecutive quarterly dividend announced by Olin. The company operates as a major global manufacturer of chemical products and ammunition, highlighting its commitment to returning value to shareholders.
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