Olin Q4 2022 net income down 36% YoY; guides 2023 adjusted EBITDA $1.5-2.0B

OLIN Corp

2022-FY EPS reported $8.94 revenue$9,376,200,000

Q4 2022 net income $196.6M ($1.43 diluted EPS) vs $306.6M ($1.89) in Q4 2021; adjusted EBITDA $441.8M vs $686.7M.
Sales fell 19% to $1,977M from $2,430M; full-year 2022 net income $1,326.9M ($8.94 EPS) vs $1,296.7M ($7.96 EPS) in 2021.
2023 adjusted EBITDA guidance of $1.5-$2.0B, down from ~$2.4B in 2022; Q1 2023 expected to decline slightly from Q4 2022.
Repurchased 25.7M shares for $1.35B in 2022; ended year with ~$1.7B remaining authorization and net debt $2.4B (1.0x EBITDA).
Segment earnings all declined: Chlor Alkali $252.3M (down 14%), Epoxy $30.5M (down 82%), Winchester $45.7M (down 55%).

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

OLIN Corp reported the quarter ended December 31, 2022 results: revenue $1,977.0 million, net income $196.6 million, EPS $1.43 per diluted share.

Period: the quarter ended December 31, 2022
Revenue: $1,977.0 million
Net income: $196.6 million
EPS: $1.43 per diluted share
Result: reported results

Exact text from the filing

of $148.5 million and restructuring charges and other items of $10.0 million. Fourth quarter 2021 adjusted EBITDA was $686.7 million. Sales in the fourth quarter 2022 were $1,977.0 million compared to $2,430.4 million in the fourth quarter 2021. Full year 2022 reported net income was $1,326.9 million, or $8.94 per diluted share, which compares to full year 2021

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

OLIN Corp reported full year 2022 results: net income $1,326.9 million, EPS $8.94 per diluted share.

Period: full year 2022
Net income: $1,326.9 million
EPS: $8.94 per diluted share
Result: reported results

Exact text from the filing

Full year 2022 reported net income was $1,326.9 million, or $8.94 per diluted share, which compares to full year 2021 reported net income of $1,296.7 million, or $7.96 per diluted share.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

OLIN Corp updated its full year 2023 guidance (reaffirmed).

Period: full year 2023
Guidance: reaffirmed
Result: guidance update

Exact text from the filing

Overall, we expect full year 2023 adjusted EBITDA to be in the $1.5 to $2.0 billion range

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Source: SEC EDGAR

accession 0000074303-23-000018

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