Olin Q1 net income falls to $48.6M ($0.40 EPS) from $156.3M; sees Q2 sequential improvement

OLIN Corp

2024-Q1 EPS reported $0.40 revenue$1,635,300,000

Q1 2024 net income $48.6M ($0.40 diluted EPS) vs $156.3M ($1.16 EPS) in Q1 2023; adjusted EBITDA $242.1M vs $434.1M.
Chlor Alkali earnings down to $76.6M from $245.9M; Epoxy loss $11.8M vs profit $21.4M; Winchester up to $72.2M from $61.0M.
Guidance: Q2 2024 adjusted EBITDA expected to improve sequentially; full year 2024 similar to or slightly higher than 2023.
Appointed Dr. Florian Kohl as VP and President of Epoxy; Damian Gumpel continues as VP Corporate Strategy.
Quarterly dividend declared $0.20 per share, payable June 14, 2024; share repurchases of $105.4M in Q1.

item 2.02 item 5.02 item 5.07 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Role change

Damian Gumpel

Vice President of Corporate Strategy

OLN · OLIN Corp

Effective: 2024-04-25
Successor: Florian Kohl
Filed: April 25, 2024, 7:59 PM ET

Following the reassignment of the role of President of Epoxy to Dr. Kohl, Mr. Gumpel will continue to serve as Vice President of Corporate Strategy.

Appointed

Florian Kohl

Vice President and President of Epoxy

OLN · OLIN Corp

Effective: 2024-04-25
Filed: April 25, 2024, 7:59 PM ET

On April 25, 2024, the Board of Directors of Olin appointed Dr. Florian Kohl to Vice President and President of Epoxy.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.97

OLIN Corp reported the first quarter ended March 31, 2024 results: revenue $1,635.3 million, net income $48.6 million, EPS $0.40 per diluted share. Guidance reaffirmed.

Period: the first quarter ended March 31, 2024
Revenue: $1,635.3 million
Net income: $48.6 million
EPS: $0.40 per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

and amortization expense of $129.7 million and restructuring charges of $8.3 million. First quarter 2023 adjusted EBITDA was $434.1 million. Sales in the first quarter 2024 were $1,635.3 million, compared to $1,844.3 million in the first quarter 2023. Ken Lane, President and Chief Executive Officer, said, “All first quarter 2024 business segment results improved

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Damian Gumpel changed role as Vice President of Corporate Strategy at OLIN Corp.

Action: continued
Role: Vice President of Corporate Strategy

Exact text from the filing

Following the reassignment of the role of President of Epoxy to Dr. Kohl, Mr. Gumpel will continue to serve as Vice President of Corporate Strategy.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Florian Kohl was appointed as Vice President and President of Epoxy at OLIN Corp.

Action: appointed
Role: Vice President and President of Epoxy

Exact text from the filing

On April 25, 2024, the Board of Directors of Olin appointed Dr. Florian Kohl to Vice President and President of Epoxy.

View on SEC.gov

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Source: SEC EDGAR

accession 0000074303-24-000100

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