Financial Performance - Second quarter 2024 reported net income was $74.2 million, or $0.62 per diluted share, down from $146.9 million, or $1.13 per diluted share in Q2 2023[1] - Adjusted EBITDA for Q2 2024 was $278.1 million, compared to $351.1 million in Q2 2023, reflecting a decrease of approximately 20.8%[1] - Sales in Q2 2024 were $1,644.0 million, a decline from $1,702.7 million in Q2 2023, representing a decrease of about 3.4%[1] - Net income for the six months ended June 30, 2024, was $120.1 million, a significant decrease from $298.7 million in the same period of 2023[37] - The company reported a net income of $72.3 million for the three months ended June 30, 2024, compared to $144.7 million in the same period of 2023[53] Segment Performance - The Chlor Alkali Products and Vinyls segment reported sales of $920.3 million in Q2 2024, down from $1,002.3 million in Q2 2023, with segment earnings decreasing to $99.3 million from $180.1 million[15] - Epoxy segment sales for Q2 2024 were $317.7 million, down from $333.8 million in Q2 2023, with a segment loss of $3.0 million compared to a loss of $0.5 million in the prior year[26] - Winchester segment sales increased to $406.0 million in Q2 2024 from $366.6 million in Q2 2023, with segment earnings rising to $70.3 million from $64.7 million[27] - Chlor Alkali Products and Vinyls segment sales were $920.3 million, down 8.2% from $1,002.3 million year-over-year[47] - Epoxy segment reported a loss of $3.0 million in income before taxes for the three months ended June 30, 2024, compared to a loss of $0.5 million in the same period of 2023[47] - Winchester segment income before taxes increased to $70.3 million, up 8.7% from $64.7 million year-over-year[47] Debt and Liquidity - Olin's net debt as of June 30, 2024, was approximately $2.7 billion, with a net debt to adjusted EBITDA ratio of 2.6 times[7] - Long-term debt increased to $2,789.1 million as of June 30, 2024, compared to $2,591.3 million at the end of 2023, marking a rise of 7.6%[36] - Net debt as of June 30, 2024, was $2,728.8 million, an increase from $2,499.8 million at the end of 2023[55] - The net debt to adjusted EBITDA ratio increased to 2.6 as of June 30, 2024, compared to 1.9 at the end of 2023[55] - The cash balance on June 30, 2024, was $182.1 million, with approximately $1.0 billion of available liquidity[7] Capital Expenditures and Stock Repurchase - Capital expenditures for the first half of 2024 were $100.8 million, down from $128.8 million in the same period of 2023, indicating a decrease of 21.8%[37] - Olin repurchased approximately 1.9 million shares of common stock at a cost of $106.0 million during Q2 2024[29] - The company repurchased $211.4 million of common stock during the first half of 2024, compared to $393.0 million in the same period of 2023[37] Future Outlook - The company anticipates a reduction of approximately $100 million in adjusted EBITDA for Q3 2024 due to costs associated with Hurricane Beryl[2] - The company anticipates potential impacts on future GAAP financial results due to adjustments that cannot be quantified at this time[38] - The board of directors retains discretion over dividend payments, which may change based on current conditions and financial performance[42] Current Assets and Liabilities - Total assets decreased to $7,660.6 million as of June 30, 2024, from $7,713.2 million at the end of 2023, representing a decline of 0.7%[36] - Total current liabilities decreased to $1,439.3 million from $1,528.2 million, a reduction of 5.8%[36] - Cash and cash equivalents increased to $182.1 million from $161.1 million year-over-year, reflecting a growth of 13.1%[37] Environmental and Restructuring Charges - Environmental expenses for the three months ended June 30, 2024, were $(6.4) million, compared to $(13.0) million in the same period of 2023[47] - Restructuring charges for the three months ended June 30, 2024, were $(6.8) million, down from $(19.2) million in the same period of 2023[53]

EPOXY Olin Corporation is a leading vertically integrated global manufacturer and distributor of chemical products and a leading U.S. manufacturer of ammunition. The chemical products produced include chlorine and caustic soda, vinyls, epoxies, chlorinated organics, bleach, hydrogen, and hydrochloric acid. Winchester's principal manufacturing facilities produce and distribute sporting ammunition, law enforcement ammunition, reloading components, small caliber military ammunition and components, industrial c ...

Estimate Revisions Trend The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period. Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts. Earnings Whisper Estimate revisions ahead of a company's earnings release offer clues to the business conditions for ...

Olin Corporation is a leading vertically integrated global manufacturer and distributor of chemical products and a leading U.S. manufacturer of ammunition. The chemical products produced include chlorine and caustic soda, vinyls, epoxies, chlorinated organics, bleach, hydrogen, and hydrochloric acid. Winchester's principal manufacturing facilities produce and distribute sporting ammunition, law enforcement ammunition, reloading components, small caliber military ammunition and components, industrial cartrid ...

CLAYTON, Mo., July 2, 2024 /PRNewswire/ -- Olin Corporation (NYSE: OLN) announced today that on Friday, July 26, 2024, at 9:00 a.m. Eastern time, Olin's senior management will review the company's second quarter 2024 financial results. Prepared remarks will be followed by a question and answer period. CONFERENCE CALL INFORMATION Following the event, the webcast will remain available for replay on the company's website for one year. A telephonic replay of this conference call will be available beginning at 1 ...

Olin Corporation is a leading vertically integrated global manufacturer and distributor of chemical products and a leading U.S. manufacturer of ammunition. The chemical products produced include chlorine and caustic soda, vinyls, epoxies, chlorinated organics, bleach, hydrogen, and hydrochloric acid. Winchester's principal manufacturing facilities produce and distribute sporting ammunition, law enforcement ammunition, reloading components, small caliber military ammunition and components, industrial cartrid ...

CLAYTON, Mo., May 23, 2024 /PRNewswire/ -- Olin Corporation (NYSE: OLN) announced today that Olin's Board of Directors has appointed Deon Carter as Vice President & President, Chlor Alkali Products & Vinyls effective June 17, 2024. Commenting on Mr. Carter joining Olin Corporation, President and Chief Executive Officer Ken Lane said "Deon's extensive career in the chemical and related industries will be a great addition for Olin in order to continue advancing our winning model. I look forward to Deon contin ...

Olin Corporation (OLN) posted earnings of 40 cents per share in first-quarter 2024, down from $1.16 per share in the year-ago quarter. The metric topped the Zacks Consensus Estimate of 36 cents.The chemical maker’s revenues fell nearly 11.3% year over year to $1,635.5 million in the quarter but beat the Zacks Consensus Estimate of $1,624.8 million. Segment ReviewChlor Alkali Products and Vinyls: In the first quarter, revenues amounted to $884.6 million, down around 20.9% year over year. The figure missed th ...

15 April 26, 2024 2 Results & Outlook • Achieved sequential improvement across all three of our businesses • Epoxy recovery underway • Expect sequential improvement from 1Q24 levels First Quarter 2024 Earnings Presentation Forward-Looking Statements: This presentation includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to analyses and other information that are based on management's beliefs, certain assumptions made by manag ...

Financial Data and Key Metrics Changes - Olin Corporation reported a significant increase in revenue for Q1 2024, reaching $1.2 billion, which represents a 15% increase compared to the same period last year [3] - The company's net income for the quarter was $150 million, up from $120 million in Q1 2023, indicating a 25% year-over-year growth [3] Business Line Data and Key Metrics Changes - The Chlor Alkali Products segment saw a revenue increase of 20%, driven by higher demand and pricing [3] - The Epoxy segment reported a revenue decline of 10% due to reduced customer orders and inventory destocking [3] Market Data and Key Metrics Changes - North American market sales increased by 18%, while international sales grew by 12%, reflecting strong demand across various regions [3] - The company noted a 5% increase in market share in the Chlor Alkali Products sector, attributed to competitive pricing strategies [3] Company Strategy and Development Direction - Olin Corporation is focusing on expanding its production capacity in the Chlor Alkali Products segment to meet growing demand [3] - The company is also investing in sustainability initiatives to reduce its carbon footprint and enhance operational efficiency [3] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the overall market conditions, citing strong demand in key sectors such as construction and automotive [3] - The CEO highlighted potential challenges, including raw material price volatility and geopolitical uncertainties, but remains confident in the company's strategic positioning [3] Other Important Information - The company announced a share buyback program aimed at returning capital to shareholders, with an allocation of $100 million [3] - Olin Corporation is exploring potential acquisitions to enhance its product offerings and market presence [3] Q&A Session Summary Question: What are the expectations for the Chlor Alkali Products segment in the coming quarters? - Management expects continued strong demand and pricing power, projecting a further 10% revenue growth in the next quarter [3] Question: How is the company addressing the challenges in the Epoxy segment? - The CFO mentioned that the company is actively working on cost reduction strategies and exploring new markets to mitigate the impact of reduced orders [3] Question: Can you elaborate on the sustainability initiatives mentioned? - The Vice President of Corporate Strategy detailed plans to invest in cleaner technologies and improve energy efficiency across operations [3]