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 reports developments across chemical manufacturing and ammunition businesses. The company operates Chlor Alkali Products and Vinyls, Epoxy, and Winchester segments, with products including chlorine, caustic soda, ethylene dichloride, vinyl chloride monomer, epoxy resins, and Winchester sporting ammunition and accessories.
Recurring Olin news includes quarterly results, adjusted EBITDA and sales commentary, segment demand trends, planned maintenance and operating reliability, structural cost actions, litigation charges, and commercial agreements tied to its vinyls portfolio. Updates also cover Winchester commercial and defense demand, raw-material and commodity cost pressures, and regulatory or environmental risk topics common to chemical manufacturing.
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Olin Corporation (NYSE: OLN) will announce its first quarter 2023 financial results on April 27, 2023, after market close. A conference call to discuss these results is scheduled for April 28, 2023, at 9:00 a.m. Eastern time, followed by a Q&A session. Participants can join the call via phone or through a live webcast on Olin's website. The company is well-known for its chemical products, including chlorine and caustic soda, alongside its ammunition manufacturing via Winchester. A replay of the call will be available on the website for up to one year.
Olin Corporation (NYSE: OLN) announced it will close its Cumene facility in the Netherlands and solid epoxy resin production sites in South Korea and Brazil. This move is anticipated to incur around $57 million in restructuring charges in Q1 2023, including $15 million in non-cash asset impairment. CEO Scott Sutton highlighted the weak global demand for epoxy products, stating the closures aim to optimize the company's asset footprint. The restructuring is part of a broader strategy to enhance operational efficiency and bolster earnings within the Epoxy business.
Olin Corporation (NYSE: OLN) reported a fourth quarter 2022 net income of $196.6 million or $1.43 per diluted share, down from $306.6 million in Q4 2021. Adjusted EBITDA for the quarter was $441.8 million, a decline from $686.7 million year-over-year. Total sales dropped to $1,977.0 million from $2,430.4 million. For 2023, Olin anticipates adjusted EBITDA between $1.5 billion and $2.0 billion amid continued economic challenges. The company repurchased $1.35 billion in shares during 2022 and reduced net debt to $2.4 billion. The chemical segment experienced lower volumes, particularly in Epoxy and Chlor Alkali Products.
Olin Corporation and Mitsui & Co., Ltd. have announced the launch of their joint venture, Blue Water Alliance (BWA), following the acquisition of necessary regulatory approvals. BWA, headquartered in Houston, aims to optimize the global trading of electrochemical unit (ECU)-based derivatives, particularly caustic soda and ethylene dichloride (EDC). By leveraging Mitsui's logistics and Olin's production capabilities, BWA seeks to deliver efficient and sustainable supply solutions while supporting industrial decarbonization efforts.
Olin Corporation (NYSE: OLN) will review its fourth quarter 2022 financial results on January 27, 2022, at 9:00 a.m. ET. A press release with detailed financial statements will be available post-market on January 26, 2022. Interested parties can join the conference call by dialing in or via a live webcast on Olin's website. A replay will be accessible for a year, including a telephonic version for 14 days following the event. Olin is a major global manufacturer in chemical products and ammunition.