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Sep 30
Olin Q3 2025 Earnings Report
Olin reported a return to profitability in Q3 2025, with net income of $42.8 million and solid performance from its Chlor Alkali segment.
Key Takeaways
Olin Corporation delivered improved results in Q3 2025, reversing last year’s loss and achieving $222.4 million in adjusted EBITDA. Strength in the Chlor Alkali Products and Vinyls segment drove earnings despite ongoing weakness in epoxy demand and commercial ammunition sales.
Returned to profitability with $42.8 million net income, up from a $24.9 million loss in Q3 2024.
Adjusted EBITDA reached $222.4 million, including a $32 million benefit from clean hydrogen tax credits.
Chlor Alkali Products and Vinyls led growth with $127.6 million in segment earnings.
Winchester performance declined due to weak commercial ammo sales and higher input costs.
Olin
Olin
Olin Revenue by Segment
Revenue by Segment
Chlor Alkali & Vinyls Revenue
CapyFin.comEpoxy Revenue
CapyFin.comWinchester Revenue
CapyFin.com Forward Guidance
Olin expects a seasonally weaker Q4 2025, forecasting adjusted EBITDA between $110 million and $130 million due to inventory reductions and softer demand.
Positive Outlook
- Chlor Alkali integration continues to support segment margins.
- Ongoing cost discipline through the Beyond250 program.
- Strong liquidity position with $1.3 billion available.
- Military demand supporting Winchester defense sales.
- Focus remains on maximizing cash generation through year-end.
Challenges Ahead
- Expected $40 million penalty in Q4 from inventory reduction.
- Weak epoxy demand persists amid Asian import pressure.
- Elevated commercial ammunition inventory at retailers.
- Higher raw material costs impacting margins.
- Fourth quarter is typically the weakest seasonally for all segments.