Olin Stock Price, News & Analysis

Olin Corporation reported a strong financial performance for Q4 2021, with net income of $306.6 million ($1.89 per diluted share), a significant turnaround from a net loss of $33 million in Q4 2020. Adjusted EBITDA rose to $686.7 million, up from $246.2 million the previous year. Full year 2021 results showed net income of $1.3 billion versus a loss in 2020. The company reduced net debt by $1.1 billion in 2021, achieving a net debt to adjusted EBITDA ratio of 1.0. Olin expects adjusted EBITDA for 2022 to range between $2.5 billion to $2.8 billion.

Olin Corporation (NYSE: OLN) has announced the discontinuation of bleach manufacturing at its Tracy, CA facility, effective June 30, 2022. This decision reflects a strategic shift in the company's operations. Olin is a prominent manufacturer of chemical products, including bleach, and is also recognized for its ammunition production. The move may impact the company's product offerings and market positioning within the chemical sector.

Olin Corporation (NYSE: OLN) will discuss its fourth quarter 2021 financial results on January 28, 2022, at 9:00 a.m. Eastern time. A press release, including detailed financial statements, will be available after market close on January 27, 2022. Participants can join the call by dialing the provided numbers or via a live webcast on Olin's website. A replay will be accessible for one year on the site, with a telephonic replay available for 14 days afterwards.

Olin Corporation (NYSE: OLN) has launched Shoot United, an initiative aimed at promoting shooting sports and responsible firearm ownership. With over 60 million adults participating in shooting sports annually, the initiative seeks to engage a broader audience. It plans to share engaging content through various media channels and coordinate grassroots events nationwide throughout 2022 and 2023. The goal is to foster inclusivity and increase participation in competitive and recreational shooting activities.

Olin Corporation (NYSE: OLN) announced the early tender results of its cash offer for 9.500% Senior Notes due 2025. As of November 15, 2021, $391.37 million of the Notes (78.27% of outstanding) were tendered. Consequently, the company increased the Maximum Purchase Amount to $489.70 million. Eligible holders will receive $1,251.25 per $1,000 principal amount, including an early tender premium of $30. The settlement date is expected on November 17, 2021. The Offer expires on November 30, 2021, unless extended.

Olin Corporation (NYSE: OLN) announced the retirement of Pat D. Dawson, Executive Vice President and President, Epoxy and International, effective April 30, 2022. Damian Gumpel, currently VP and President of Chlor Alkali Products, will succeed him on November 29, 2021. Olin also appointed Patrick M. Schumacher as VP and President of Chlor Alkali Products and Dana C. O'Brien as Senior VP and General Counsel, both effective November 29, 2021. The leadership changes aim to enhance strategic operations and corporate strategy amid evolving market conditions.

Olin Corporation announced a cash tender offer to purchase up to $350 million of its outstanding 9.500% Senior Notes due 2025. This offer includes a solicitation of consents for proposed amendments that would eliminate restrictive covenants in the indenture for the Notes. The offer will expire on November 30, 2021, with an early tender deadline on November 15, 2021. Validly tendered Notes will be accepted on a pro rata basis if the total exceeds the maximum purchase amount. Payments will include accrued interest.

Olin Corporation (NYSE: OLN) has announced a new $1.0 billion share repurchase program, aimed at enhancing shareholder value. This program allows for periodic repurchases of common stock at management's discretion, considering market conditions and other business factors. As of September 30, 2021, Olin still had $236 million authorized under its previous buyback program. CEO Scott Sutton expressed confidence in the company's future earnings, indicating a robust financial position to support this initiative.

On October 28, 2021, Olin Corporation's (NYSE: OLN) Board of Directors declared a $0.20 quarterly dividend, set to be paid on December 10, 2021, to shareholders of record by November 10, 2021. This announcement signifies the company's 380th consecutive quarterly dividend, reflecting consistent financial performance and shareholder value.