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Mar 31, 2024
Olin Q1 2024 Earnings Report
Announced first quarter 2024 results, with sequential improvement across all business segments and strategic share repurchases.
Key Takeaways
Olin Corporation reported a net income of $48.6 million, or $0.40 per diluted share, for the first quarter of 2024. Sales were $1,635.3 million. The company's adjusted EBITDA was $242.1 million. Share repurchases totaled $105.4 million during the quarter.
First quarter net income was $48.6 million, or $0.40 per diluted share.
Adjusted EBITDA for the quarter reached $242.1 million.
Share repurchases amounted to $105.4 million in the first quarter.
All business segments improved sequentially from fourth quarter 2023.
Olin
Olin
Olin Revenue by Segment
Revenue by Segment
Chlor Alkali & Vinyls Revenue
CapyFin.comEpoxy Revenue
CapyFin.comWinchester Revenue
CapyFin.com Forward Guidance
Olin anticipates its second quarter 2024 adjusted EBITDA to improve from first quarter 2024 levels and expects full year 2024 adjusted EBITDA to be similar to or slightly higher than 2023 levels.
Positive Outlook
- Demand and pricing continue to improve.
- Chemical businesses are expected to be sequentially higher than first quarter 2024 levels.
- Winchester business is expected to be in line with first quarter results.
- Committed to maintaining an investment-grade balance sheet.
- Continuing disciplined capital allocation strategy.
Challenges Ahead
- Less favorable mix and higher raw material costs are expected to offset stronger military volumes in the Winchester business.
- Pace of demand and pricing improvement for Chemical businesses is uncertain.
- Full year 2024 adjusted EBITDA is only expected to be similar to or slightly higher than 2023 levels.
- Refraining from selling incremental volume into poor-quality markets.
- Aligning operating rates and product purchases to match the weaker side of the ECU.