Olin Q3 net income $104.1M, down 67% YoY; idles two chlor-alkali plants, sees Q4 EBITDA ~$200M

OLIN Corp

2023-Q3 EPS reported $3.12 revenue$5,218,400,000

Q3 2023 net income $104.1M ($0.82 diluted EPS) vs $315.2M ($2.18) a year ago; adjusted EBITDA $314.8M vs $547.8M.
Sales $1,671.4M, down 28% from $2,321.7M; Chlor Alkali segment earnings fell $81.6M, Epoxy had a loss of $28.8M.
Idled St. Gabriel, LA facility and its largest chlor-alkali plant in Freeport, TX; expects Q4 adjusted EBITDA ~$200M, cut by ~$100M vs prior view.
Board declared quarterly dividend $0.20/share, payable Dec 8 to holders of record Nov 9; 388th consecutive quarterly dividend.
Repurchased 3.7M shares ($202.1M) in Q3; YTD repurchases ~10.8M shares ($595.1M); $1.1B remaining authorization.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.85

OLIN Corp reported third quarter ended September 30, 2023 results: net income $104.1 million, or $0.82 per diluted share.

Period: third quarter ended September 30, 2023
Net income: $104.1 million, or $0.82 per diluted share
Result: reported results

Exact text from the filing

3 Document Exhibit 99.1 Investor Contact: Steve Keenan (314) 719-1755 InvestorRelations@Olin.com News Olin Corporation, 190 Carondelet Plaza, Suite 1530, Clayton, MO 63105 Olin Announces Third Quarter 2023 Results Highlights • Third quarter 2023 net income of $104.1 million, or $0.82 per diluted share • Quarterly adjusted EBITDA of $314.8 million • Share repurchases of $202.1 million in third quarter 2023 • Fourth quarter 2023 focus on actions to improve 2024 Clayton, MO, October 26, 2023 – Olin Corporation (NYSE: OLN) announced financial results for the third quarter ended September 30, 2023.

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Source: SEC EDGAR

accession 0000074303-23-000174

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