Olin Stock Price, News & Analysis

Olin Corporation (NYSE: OLN) announced the resignation of Scott Ferguson from its Board of Directors. Ferguson expressed pride in contributing to the company's successful navigation through COVID-19 and praised the leadership of Scott Sutton. Sutton highlighted Ferguson's invaluable perspectives and noted his absence will be felt. Olin, a major manufacturer and distributor of chemical products and ammunition, is positioned for continued success following this leadership change.

Olin Corporation (NYSE: OLN) reported third quarter 2022 net income of $315.2 million or $2.18 per diluted share, down from $390.7 million or $2.38 in Q3 2021. Adjusted EBITDA was $547.8 million, a decline from $707.0 million in the prior year. Sales were $2,321.7 million, slightly lower than $2,340.1 million in Q3 2021. Olin expects a 15% to 20% decline in Q4 adjusted EBITDA. The company repurchased approximately 13% of its shares year-to-date, reflecting its commitment to capital allocation and maintaining an investment-grade balance sheet.

Olin Corporation (NYSE: OLN) announced plans to cease production of methylene chloride and chloroform at its Stade, Germany facility by the third quarter of 2023. Production will continue at its Freeport, Texas site. This decision is part of Olin's strategy to optimize operations and manage production costs effectively. The company remains focused on maintaining its production capabilities in key areas despite the reduction in capacity in Germany.

Olin Corporation (NYSE: OLN) has revised its third quarter 2022 adjusted EBITDA guidance to $530 - $550 million, a decrease from the prior forecast of a 15% decline from the $727 million reported in Q2 2022. CEO Scott Sutton noted worsening global economic conditions led to reduced demand, particularly in epoxy and vinyls. Additionally, commercial ammunition volumes fell due to oversupply. Despite these challenges, Olin maintains a strong balance sheet and expects to navigate potential recession impacts effectively in Q4 2022 and 2023.

Olin Corporation (NYSE: OLN) plans to permanently close approximately 225,000 ECU tons of diaphragm-grade chlor alkali capacity at its Freeport, TX facility by year-end 2022. This reduction is part of a broader strategy, bringing the total capacity rationalized to over one million ECU tons in less than two years. CEO Scott Sutton emphasized the company's commitment to enhancing ECU values and achieving a more sustainable asset configuration.

Olin Corporation's Winchester Ammunition Division has pledged $125,000 to the Folds of Honor Foundation, aiding educational scholarships for spouses and children of fallen or disabled U.S. service members. This initiative underscores Winchester's long-standing commitment to military families, with the USA VALOR® ammunition collection supporting this cause. Lt. Col. Dan Rooney, founder of Folds of Honor, expressed gratitude for the support, while Winchester President Brett Flaugher reaffirmed the company’s dedication to U.S. Warfighters over its 100+ year history.

Olin Corporation (NYSE: OLN) reported a net income of $422.1 million or $2.76 per diluted share for Q2 2022, up from $355.8 million in Q2 2021. The adjusted EBITDA reached a record $727.3 million, driven by sales of $2,616.1 million, compared to $2,221.3 million last year.

Despite strong performance, the company anticipates a 15% decline in adjusted EBITDA for Q3 2022 due to a challenging economic environment and higher operating costs. A new $2 billion share repurchase program has also been approved, aimed at enhancing shareholder value.

Olin Corporation (NYSE: OLN) will hold a conference call on July 29, 2022, at 9:00 a.m. Eastern time to discuss its second quarter 2022 financial results. The call will follow a press release containing financial statements and segment information, which will be released after the market closes on July 28, 2022. Interested participants can join the call by dialing specific numbers based on their location or by accessing the live webcast on the company's website. A replay will be available after the event.

Olin Corporation (NYSE: OLN) announced significant operational updates on June 14, 2022. The company's Plaquemine, Louisiana chlor alkali facility has resumed half of its operations after being offline since April 2022, with full restoration expected by early August 2022. However, the Freeport, Texas facility is experiencing reduced power generation, with expectations for partial restoration in Q4 2022. Olin also reported weaker epoxy resin demand in North and South America, leading to temporary production curtailments in both epoxy and ethylene dichloride.