Olin Q2 net income drops 65% to $1.13 EPS; full-year adjusted EBITDA guided to ~$1.4B

OLIN Corp

2023-Q2 EPS reported $2.29 revenue$3,547,000,000

Q2 2023 net income $146.9M ($1.13 diluted EPS) vs $422.1M ($2.76 EPS) a year ago; adjusted EBITDA $351.1M vs $727.3M.
Sales fell 35% YoY to $1.7B; Chlor Alkali segment earnings down 48% to $180.1M; Epoxy segment swung to a $0.5M loss.
Expects Q3 2023 adjusted EBITDA ~10% lower than Q2 2023; full-year adjusted EBITDA guided to ~$1.4B.
Board declared $0.20 quarterly dividend (387th consecutive), payable Sept 8, 2023 to holders of record Aug 10, 2023.
Repurchased 3.5M shares for $186.9M in Q2; 7.1M shares for $393M in H1 2023.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

OLIN Corp reported second quarter ended June 30, 2023 results: revenue $1,702.7 million, net income $146.9 million, EPS $1.13. Guidance initiated.

Period: second quarter ended June 30, 2023
Revenue: $1,702.7 million
Net income: $146.9 million
EPS: $1.13
Guidance: initiated
Result: reported results

Exact text from the filing

fleet and operations of $27.0 million, and restructuring charges of $19.2 million. Second quarter 2022 adjusted EBITDA was $727.3 million. Sales in the second quarter 2023 were $1,702.7 million compared to $2,616.1 million in the second quarter 2022. Scott Sutton, Chairman, President, and Chief Executive Officer, said, “In this challenging demand environment, Olin’s

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Source: SEC EDGAR

accession 0000074303-23-000134

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