Olin Q1 2023 Earnings Report
Key Takeaways
Olin Corporation reported a net income of $156.3 million, or $1.16 per diluted share, for the first quarter of 2023. Sales were $1,844.3 million compared to $2,461.4 million in the first quarter of 2022. Adjusted EBITDA for the quarter was $434.1 million.
First quarter 2023 net income was $156.3 million, or $1.16 per diluted share.
Adjusted EBITDA for the first quarter was $434.1 million.
Share repurchases totaled $206.1 million in the first quarter of 2023.
The company expects 2023 adjusted EBITDA to be between $1.6 and $1.9 billion.
Olin
Olin
Olin Revenue by Segment
Forward Guidance
Olin expects second quarter 2023 results from its Chemical businesses to be slightly lower than first quarter 2023 levels. Winchester business second quarter 2023 results are expected to increase sequentially from first quarter 2023. Overall, Olin’s second quarter 2023 adjusted EBITDA is expected to be slightly lower than first quarter 2023 levels.
Positive Outlook
- Winchester business second quarter 2023 results are expected to increase sequentially from first quarter 2023.
- Commercial customer inventories are becoming more normalized.
Challenges Ahead
- Challenging global economic environment is ongoing.
- Chemical businesses are expected to be slightly lower than first quarter 2023 levels.
- Overall, Olin’s second quarter 2023 adjusted EBITDA is expected to be slightly lower than first quarter 2023 levels.
Revenue & Expenses
Visualization of income flow from segment revenue to net income