Olin Corporation (NYSE:OLN) Q3 2024 Earnings Conference Call October 25, 2024 9:00 AM ET Company Participants Steve Keenan - Director of IR Ken Lane - President and CEO Todd Slater - CFO Conference Call Participants Duffy Fischer - Goldman Sachs Hassan Ahmed - Alembic Global Arun Viswanathan - RBC Capital Markets Jeff Zekauskas - JP Morgan Aleksey Yefremov - KeyBanc Josh Spector - UBS Patrick Cunningham - Citi Kevin McCarthy - Vertical Research Steve Byrne - Bank of America Mike Leithead - Barclays Bhavesh ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 Title of each class: Trading symbol: Name of each exchange on which registered: Common Stock, $1.00 par value per share OLN New York Stock Exchange OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Com ...

In its upcoming report, Olin (OLN) is predicted by Wall Street analysts to post quarterly earnings of $0.03 per share, reflecting a decline of 96.3% compared to the same period last year. Revenues are forecasted to be $1.57 billion, representing a year-over-year decrease of 6%.Over the last 30 days, there has been a downward revision of 2.6% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts ...

The market expects Olin (OLN) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended September 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates. The earnings report, which is expected to be released on October 24, 2024, might help the stock move higher if these key numbers are bett ...

While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies. Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader market. Value investors use fu ...

CLAYTON, Mo., Sept. 30, 2024 /PRNewswire/ -- Olin Corporation (NYSE: OLN) announced today that on Friday, October 25, 2024, at 9:00 a.m. Eastern time, Olin's senior management will review the company's third quarter 2024 financial results. Prepared remarks will be followed by a question and answer period. A press release, including financial statements and segment information, will be distributed after the market closes on Thursday, October 24, 2024, together with the associated slides. CONFERENCE CALL INFO ...

CLAYTON, Mo., Aug. 28, 2024 /PRNewswire/ -- Olin Corporation (NYSE: OLN), a leading global manufacturer of chemical products and ammunition, announced today that it has lifted its systemwide force majeure on chlor-alkali products declared on July 10, 2024. Chlor-alkali and derivative production has been returned to operation. A temporary disruption of its Freeport, Texas operations had occurred as a result of Hurricane Beryl. Olin's Epoxy business is in the process of restarting its Aromatics assets which r ...

Core Viewpoint - Olin Corporation will host an Investor Day on December 12, 2024, in New York City to present its strategic vision and financial targets [1][2]. Company Overview - Olin Corporation is a leading global manufacturer and distributor of chemical products and ammunition, producing items such as chlorine, caustic soda, vinyls, and various types of ammunition [5]. Event Details - The Investor Day will feature presentations from the executive management team, including the President & CEO and the SVP & CFO, with a focus on the company's strategic vision, capital allocation strategy, and long-term financial targets [2]. - The event will start at 9:00 AM (ET) and conclude around 12:00 PM (ET), available both virtually and in-person, with in-person attendance by invitation only [3]. - A live webcast of the event will be accessible on the company's Investor Relations website, with an archived version available for replay within 24 hours for 12 months [4].

Financial Data and Key Metrics Changes - The company experienced a setback due to Hurricane Beryl, estimating a $100 million impact on the chemicals business for Q3 2024 [12] - The full-year 2024 adjusted EBITDA outlook has been lowered to approximately $940 million, including the hurricane impact, and $1.04 billion excluding it [35][100] - The net debt increased by approximately $229 million from year-end, resulting in a net debt to adjusted EBITDA ratio of 2.6x [29] Business Line Data and Key Metrics Changes - The chlor alkali and vinyls business saw typical seasonal demand improvement but no underlying growth, with US chlorine demand still below pre-COVID levels [27] - The epoxy business showed improvement in Q2 due to lower costs and higher pricing, but Q3 results are expected to be challenged by the hurricane and a planned turnaround in Germany [13] - Winchester's military revenues are expected to grow significantly in the second half of 2024, driven by increased global defense spending [5] Market Data and Key Metrics Changes - Domestic and international military sales for Winchester showed strength, with expectations for continued growth in military revenues across all value chains [5] - The overall industrial economic environment remains weak, impacting demand recovery across various sectors [12][32] Company Strategy and Development Direction - The company is focused on maximizing cash flow by reducing capital expenditures and maintaining cost discipline [4] - A disciplined capital allocation strategy will continue, with a focus on share repurchases and maintaining a strong investment-grade balance sheet [6][30] - The company plans to host an Investor Day to discuss business strategy and financial goals in detail [30] Management's Comments on Operating Environment and Future Outlook - Management noted that the industrial economic trough is longer-lived than typical, with expectations for gradual recovery as macroeconomic conditions improve [12] - The company remains optimistic about future demand recovery, particularly in the US and China markets, but acknowledges the current economic challenges [36][117] Other Important Information - The company has successfully deferred international tax payments of approximately $80 million into 2025 [29] - Capital spending plans have been reduced by roughly $25 million for 2024, despite hurricane-related requirements [29] Q&A Session Summary Question: Why did the company defer its international tax payment? - The company deferred an $80 million international tax payment into 2025 without additional costs, related to prior years [19] Question: Are there particular industry areas that have slowed relative to expectations? - Management noted that while there were expectations for economic improvement, actual demand did not develop as anticipated, with no significant growth in specific industries [20][32] Question: What is the company's outlook for EBITDA and trough earnings power? - Management indicated that the current EBITDA guidance reflects a trough level of earnings, with expectations for recovery as demand improves [36] Question: How does the company view its capital allocation strategy moving forward? - The company will continue to prioritize share repurchases while maintaining a strong balance sheet, with no immediate changes to its capital allocation strategy [110][119] Question: What is the impact of Hurricane Beryl on operations? - The hurricane is expected to have a $100 million impact, with operations gradually resuming as damage is assessed and repaired [12][97]

LEGAL MATTERS AND CONTINGENCIES Operating Activities 33 Financing Activities 34 On June 24, 2024, Moody's affirmed Olin's Ba1 rating and stable outlook. On March 14, 2024, Fitch affirmed Olin's BBBrating and stable outlook. On April 30, 2023, S&P affirmed Olin's BB+ rating and positive outlook. New Accounting Pronouncements We are exposed to market risk in the normal course of our business operations due to our purchases of certain commodities, our ongoing investing and financing activities and our operatio ...