Financial Performance - Olin's Q2 2025 sales were $980 million[10], compared to $920 million in Q2 2024[10] and $925 million in Q1 2025[10] - Adjusted EBITDA for Q2 2025 was $171 million[10], down from $205 million in Q2 2024[10] and $186 million in Q1 2025[10] - Olin generated $212 million in operating cash flow[9] Segment Performance - Chlor Alkali Products & Vinyls (CAPV) sales were $331 million in Q2 2025[17], slightly down from $332 million in Q1 2025[17], and up from $318 million in Q2 2024[17] Adjusted EBITDA was negative $11 million[17] - Epoxy sales were $448 million in Q2 2025[23], up from $388 million in Q1 2025[23] and $406 million in Q2 2024[23] Adjusted EBITDA was $33 million[23] - Winchester sales were $176 million in Q2 2025[36] Outlook and Initiatives - Olin expects Q3 2025 Adjusted EBITDA to be between $170 million and $210 million[45] - The company is targeting $70-$90 million in annualized run rate savings by year-end 2025 through the Beyond250 initiative[30] - Olin expects working capital, excluding tax payment timing, to be greater than $100 million source of cash in 2025[43]

Core Insights - Olin reported Q2 2025 revenue of $1,758.3 million, exceeding analyst expectations by 6.0% but posted a GAAP loss per share of ($0.01), missing the consensus forecast of a $0.01 profit [1][2] - Adjusted EBITDA fell 36.6% to $176.1 million compared to the same period last year, indicating profitability pressures from rising input costs and maintenance expenses [1][2] Financial Performance - Revenue increased by 7.0% year-over-year from $1,644.0 million in Q2 2024 to $1,758.3 million in Q2 2025 [2] - Chlor Alkali Products and Vinyls revenue rose 6.4% to $979.5 million, while Epoxy revenue grew 4.2% to $331.2 million, and Winchester revenue increased 10.2% to $447.6 million [2][5][6][7] - GAAP EPS decreased by 101.6% from $0.62 in Q2 2024 to ($0.01) in Q2 2025, while adjusted EBITDA dropped from $278.1 million to $176.1 million [2][5] Business Segments Overview - The Chlor Alkali segment faced a 34.6% decline in earnings due to lower prices and higher maintenance costs, despite increased volumes [5] - The Epoxy segment experienced a deeper operating loss driven by rising costs and global oversupply, with flat profit margins year-over-year [6] - Winchester's sales rose due to military shipments, but earnings declined approximately 64% due to weak commercial sales and rising raw material costs [7] Strategic Focus - Olin is concentrating on maximizing value in its Chlor Alkali business, enhancing integration in Epoxy, and expanding the Winchester military channel [4] - Key success factors include maintaining low production costs, securing long-term military contracts, and effective capital allocation [4] Outlook - Management expects Q3 2025 adjusted EBITDA to range from $170 million to $210 million, indicating continued challenges [12] - Capital expenditures for 2025 have been trimmed by $25 million as part of cost control measures, with no upward revision to full-year earnings expectations [12]

[Executive Summary & Highlights](index=1&type=section&id=Executive%20Summary%20%26%20Highlights) [Second Quarter 2025 Financial Highlights](index=1&type=section&id=Second%20Quarter%202025%20Financial%20Highlights) Olin Corporation reported a **$1.3 million** net loss in Q2 2025, a sharp decline from **$74.2 million** net income in Q2 2024, with Adjusted EBITDA falling to **$176.1 million** despite sales growth, while completing acquisition financing, debt reduction, and share repurchases Q2 2025 Financial Performance | Metric | Q2 2025 (Millions) | Q2 2024 (Millions) | Change (YoY) | | :-------------------------------- | :----------------- | :----------------- | :----------- | | Net (Loss) Income Attributable to Olin Corporation | ($1.3) | $74.2 | ($75.5) | | Diluted EPS | ($0.01) | $0.62 | ($0.63) | | Adjusted EBITDA | $176.1 | $278.1 | ($102.0) | | Sales | $1,758.3 | $1,644.0 | $114.3 | | Operating Cash Flow | $212.3 | N/A | N/A | - The company completed **acquisition financing**, **reduced debt**, and **repurchased shares** during the quarter[7](index=7&type=chunk) [Business Segment Performance Overview](index=1&type=section&id=Business%20Segment%20Performance%20Overview) Chlor Alkali Products and Vinyls saw seasonal demand improvement amid challenging markets, Epoxy continued to suffer from weak global demand and Asian subsidized competition, while Winchester's defense business grew but commercial sales faced macroeconomic headwinds and destocking - **Chlor Alkali Products and Vinyls:** Experienced seasonal demand improvement in a challenging market, focused on maximizing value from its integrated position with stable electrochemical unit (ECU) values, but faced operational challenges leading to increased costs[5](index=5&type=chunk) - **Epoxy Business:** Global demand remained subdued, with US and European operations severely impacted by Asian subsidized competition, while the company leveraged chlor alkali integration, prioritized structural cost reduction, and developed its formulated solutions business[6](index=6&type=chunk) - **Winchester Business:** Defense sales grew with increased domestic and international military ammunition and project revenue, but commercial sales faced challenges from consumer discretionary spending, customer destocking, rising raw material costs, and a highly competitive environment leading to weaker pricing[7](index=7&type=chunk)[8](index=8&type=chunk) [Third Quarter 2025 Outlook](index=2&type=section&id=Third%20Quarter%202025%20Outlook) Olin projects Q3 2025 Adjusted EBITDA between **$170 million** and **$210 million**, citing ongoing market challenges, potential cost increases, and tariff uncertainties, while prioritizing prudent capital allocation for cash generation - Adjusted EBITDA for Q3 2025 is projected to be between **$170 million** and **$210 million**, driven by persistent market challenges, potential cost escalations, and tariff-related uncertainties[8](index=8&type=chunk) - The company remains committed to a prudent capital allocation approach, focusing on maximizing cash generation, supported by its strong financial foundation[8](index=8&type=chunk) [Segment Performance Details](index=2&type=section&id=Segment%20Performance%20Details) [Chlor Alkali Products and Vinyls](index=2&type=section&id=CHLOR%20ALKALI%20PRODUCTS%20AND%20VINYLS) Q2 2025 sales for Chlor Alkali Products and Vinyls increased due to higher volumes, but segment earnings significantly declined due to lower pricing, primarily for dichloroethane, and increased operating costs including planned maintenance Chlor Alkali Products and Vinyls Performance | Metric | Q2 2025 (Millions) | Q2 2024 (Millions) | Change (YoY) | | :----------------- | :----------------- | :----------------- | :----------- | | Sales | $979.5 | $920.3 | $59.2 | | Segment Earnings | $64.9 | $99.3 | ($34.4) | - Sales growth was primarily driven by increased volumes, while segment earnings decreased by **$34.4 million** due to lower pricing, mainly for dichloroethane, and higher operating costs, including planned maintenance expenses, partially offset by increased volumes[12](index=12&type=chunk) [Epoxy](index=2&type=section&id=EPOXY) The Epoxy segment saw a slight sales increase in Q2 2025, but its segment loss widened compared to Q2 2024, primarily due to higher operating costs, including planned maintenance, with product margins remaining flat year-over-year Epoxy Performance | Metric | Q2 2025 (Millions) | Q2 2024 (Millions) | Change (YoY) | | :----------------- | :----------------- | :----------------- | :----------- | | Sales | $331.2 | $317.7 | $13.5 | | Segment Loss | ($23.7) | ($3.0) | ($20.7) | - Segment performance declined by **$20.7 million**, primarily due to increased operating costs, including planned maintenance expenses, while product margins remained flat year-over-year[14](index=14&type=chunk) [Winchester](index=2&type=section&id=WINCHESTER) Winchester's Q2 2025 sales increased, driven by higher military sales and project revenue, but segment earnings significantly decreased due to lower commercial ammunition shipments and pricing, and rising raw material costs, partially offset by military segment growth Winchester Performance | Metric | Q2 2025 (Millions) | Q2 2024 (Millions) | Change (YoY) | | :----------------- | :----------------- | :----------------- | :----------- | | Sales | $447.6 | $406.0 | $41.6 | | Segment Earnings | $25.0 | $70.3 | ($45.3) | - Sales growth was primarily due to increased military sales and military project revenue, partially offset by lower commercial ammunition sales, while segment earnings decreased by **$45.3 million** due to lower commercial ammunition shipments and pricing, and higher raw material costs (including propellants and commodity metals), partially offset by increased military shipments and military project revenue[16](index=16&type=chunk)[17](index=17&type=chunk) [Corporate and Other Costs](index=3&type=section&id=CORPORATE%20AND%20OTHER%20COSTS) Corporate and other unallocated costs increased by **$2.9 million** in Q2 2025 compared to Q2 2024, primarily due to higher incentive costs, including mark-to-market adjustments for equity incentives, partially offset by favorable foreign currency impacts - Corporate and other unallocated costs increased by **$2.9 million** in Q2 2025 compared to Q2 2024[19](index=19&type=chunk) - This increase was primarily due to higher incentive costs, including mark-to-market adjustments for equity incentives, partially offset by favorable foreign currency impacts[19](index=19&type=chunk) [Financial Position & Liquidity](index=3&type=section&id=Financial%20Position%20%26%20Liquidity) [Liquidity and Share Repurchases](index=3&type=section&id=LIQUIDITY%20AND%20SHARE%20REPURCHASES) As of June 30, 2025, Olin held **$223.8 million** in cash with approximately **$1.4 billion** in available liquidity, net debt was about **$2.8 billion** with a 3.9x net debt to Adjusted EBITDA ratio, and the company repurchased **0.5 million** common shares for **$10.1 million** with **$2.0 billion** remaining authorization Liquidity and Share Repurchase Summary | Metric | June 30, 2025 (Millions) | | :-------------------------------- | :----------------------- | | Cash Balance | $223.8 | | Net Debt | ~$2,800.0 | | Net Debt to Adjusted EBITDA Ratio | 3.9x | | Available Liquidity | ~$1,400.0 | | Shares Repurchased (Q2 2025) | 0.5 million shares | | Cost of Share Repurchases (Q2 2025) | $10.1 million | | Remaining Share Repurchase Authorization | ~$2,000.0 million | [Company Information & Forward-Looking Statements](index=3&type=section&id=Company%20Information%20%26%20Forward-Looking%20Statements) [Company Description](index=3&type=section&id=COMPANY%20DESCRIPTION) Olin Corporation is a leading vertically integrated global chemical products manufacturer and distributor, including chlorine, caustic soda, vinyls, and epoxy resins, and a premier US ammunition manufacturer under the Winchester brand for sporting, law enforcement, and military applications - A leading vertically integrated global manufacturer and distributor of chemical products, including chlorine, caustic soda, vinyls, epoxy resins, chlorinated organics, bleach, hydrogen, and hydrochloric acid[25](index=25&type=chunk) - A premier US ammunition manufacturer, with Winchester's primary manufacturing facilities producing and distributing sporting ammunition, law enforcement ammunition, reloading components, small caliber military ammunition and components, industrial cartridges, and clay targets[25](index=25&type=chunk) [Conference Call Information](index=3&type=section&id=CONFERENCE%20CALL%20INFORMATION) Olin's senior management will host a conference call on Tuesday, July 29, 2025, at 9:00 AM ET to discuss Q2 2025 financial results, with related slides and webcast available on Olin's website - A conference call will be hosted by Olin's senior management on Tuesday, July 29, 2025, at 9:00 AM ET to discuss the Q2 2025 financial results[23](index=23&type=chunk) - Related slides and a webcast of the conference call are available via Olin's website (www.olin.com), with an archived replay of the webcast also provided[23](index=23&type=chunk) [Forward-Looking Statements and Risk Factors](index=4&type=section&id=FORWARD-LOOKING%20STATEMENTS) This communication contains forward-looking statements based on management's beliefs and forecasts, subject to various risks and uncertainties that could cause actual results to differ materially, including economic conditions, pricing, operational challenges, raw material costs, regulatory changes, and cyberattacks - This communication contains forward-looking statements based on management's beliefs, certain assumptions, projections of future results, and current expectations, estimates, and forecasts of market and economic conditions, involving numerous risks and uncertainties that could cause actual results to differ materially from those expressed or implied[28](index=28&type=chunk)[29](index=29&type=chunk) - Key risk factors include: * Sensitivity to economic, business, and market conditions in the US and abroad, including economic instability or downturns in industries served * Declines in average selling prices for products and the supply/demand balance for products, including the impact of industry overcapacity or an imbalanced demand for chlor alkali products * Failure to successfully execute an operating model prioritizing electrochemical unit (ECU) margin over sales volume * Failure to control costs and inflationary impacts or to achieve targeted cost reductions * Reliance on a limited number of suppliers for specific raw materials and services and on third-party transportation * Availability and/or higher-than-anticipated costs of raw materials, energy, transportation, and/or logistics * Unanticipated production disruptions and outages, including those due to labor disputes and production hazards * Exposure to physical risks associated with the increasing severity and frequency of climate-related events or adverse weather events * Failures or interruptions of information technology systems, including cyberattacks * Risks associated with international sales and operations, including economic, political, or regulatory changes * Failure to identify, attract, develop, retain, and motivate qualified employees throughout the organization, and the ability to manage executive and other key senior management transitions * Inability to complete future acquisition or joint venture transactions or to successfully integrate them into the business * Adverse conditions in credit and capital markets, limiting or preventing the company's ability to borrow or raise capital * Weak industry conditions affecting the company's ability to comply with financial maintenance covenants in its senior credit facilities * The company's indebtedness and debt service obligations * Impact of declines in global equity markets on asset values, and declines in interest rates or other significant assumptions used to value pension plan liabilities and funding * Failure of long-term plan assumptions to materialize, resulting in non-cash impairment charges to long-lived assets * Changes in or failure to comply with legislative or governmental regulations or policies, including those concerning the company's ability to manufacture or use certain products and changes within the international markets in which the company operates * New regulations or changes in public policy concerning the transportation of hazardous chemicals and the security of chemical production facilities * Unanticipated outcomes of legal or regulatory claims and proceedings * Costs and other expenditures for environmental investigations and remediation or other legal proceedings in excess of expectations * Various risks associated with performance under the Lake City Army Ammunition Plant contract and other government contracts * Failure to effectively manage environmental, social, and governance (ESG) issues and related regulations, including climate change and sustainability[30](index=30&type=chunk)[31](index=31&type=chunk)[33](index=33&type=chunk) [Financial Statements](index=5&type=section&id=Financial%20Statements) [Consolidated Statements of Operations](index=5&type=section&id=Consolidated%20Statements%20of%20Operations) Olin reported a **$1.3 million** net loss in Q2 2025, a sharp decline from **$74.2 million** net income in Q2 2024, with sales up to **$1.7583 billion** but operating income significantly reduced by higher costs and restructuring Consolidated Statements of Operations | Metric (Millions, except per share) | Q2 2025 | Q2 2024 | YTD 2025 | YTD 2024 | | :---------------------------------- | :------ | :------ | :------- | :------- | | Sales | $1,758.3 | $1,644.0 | $3,402.5 | $3,279.3 | | Cost of Goods Sold | $1,620.2 | $1,406.2 | $3,115.7 | $2,834.2 | | Operating Income | $35.3 | $136.4 | $79.0 | $233.7 | | Net (Loss) Income Attributable to Olin Corporation | ($1.3) | $74.2 | $0.1 | $122.8 | | Diluted EPS | ($0.01) | $0.62 | $0.00 | $1.01 | | Dividends per Common Share | $0.20 | $0.20 | $0.40 | $0.40 | [Segment Information](index=6&type=section&id=Segment%20Information) In Q2 2025, all three segments—Chlor Alkali, Epoxy, and Winchester—reported increased sales compared to Q2 2024; however, pre-tax income significantly decreased for Chlor Alkali and Winchester, and the loss widened for Epoxy Segment Performance (Income/Loss before Taxes) | Segment (Millions) | Q2 2025 Sales | Q2 2024 Sales | Q2 2025 Income (Loss) before Taxes | Q2 2024 Income (Loss) before Taxes | | :----------------- | :------------ | :------------ | :--------------------------------- | :--------------------------------- | | Chlor Alkali Products and Vinyls | $979.5 | $920.3 | $64.9 | $99.3 | | Epoxy | $331.2 | $317.7 | ($23.7) | ($3.0) | | Winchester | $447.6 | $406.0 | $25.0 | $70.3 | | Total Sales | $1,758.3 | $1,644.0 | N/A | N/A | [Consolidated Balance Sheets](index=7&type=section&id=Consolidated%20Balance%20Sheets) As of June 30, 2025, Olin's total assets slightly increased to **$7.6679 billion**, while total liabilities rose from increased long-term debt, total equity slightly decreased, and cash and cash equivalents reached **$223.8 million** Consolidated Balance Sheets | Metric (Millions) | June 30, 2025 | Dec 31, 2024 | June 30, 2024 | | :------------------------ | :------------ | :----------- | :------------ | | Cash and Cash Equivalents | $223.8 | $175.6 | $182.1 | | Total Current Assets | $2,286.7 | $2,079.8 | $2,058.3 | | Total Assets | $7,667.9 | $7,579.1 | $7,660.6 | | Total Current Liabilities | $1,545.9 | $1,632.2 | $1,439.3 | | Long-term Debt | $2,977.5 | $2,713.2 | $2,789.1 | | Total Liabilities | $5,680.1 | $5,523.7 | $5,491.3 | | Total Equity | $1,987.8 | $2,055.4 | $2,169.3 | [Consolidated Statements of Cash Flows](index=8&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Net cash from operating activities for the six months ended June 30, 2025, decreased to **$126.3 million**, net investing activities resulted in a **$152.3 million** outflow including an acquisition, and net financing activities saw a **$73.4 million** inflow, a notable improvement from the prior year's outflow Consolidated Statements of Cash Flows | Activity (Millions) | YTD 2025 | YTD 2024 | | :-------------------------- | :------- | :------- | | Net Operating Activities | $126.3 | $171.6 | | Net Investing Activities | ($152.3) | ($150.4) | | Net Financing Activities | $73.4 | ($8.9) | | Net Increase in Cash and Cash Equivalents | $48.2 | $11.8 | | Cash and Cash Equivalents, End of Period | $223.8 | $182.1 | - Business acquisitions, net of cash acquired, amounted to **($55.8) million** for the first half of 2025[37](index=37&type=chunk) [Non-GAAP Financial Measures](index=9&type=section&id=Non-GAAP%20Financial%20Measures) [Non-GAAP Financial Measures - Adjusted EBITDA](index=9&type=section&id=Non-GAAP%20Financial%20Measures%20-%20Adjusted%20EBITDA) Adjusted EBITDA, a non-GAAP metric, is defined as net income (loss) plus depreciation, amortization, interest, taxes, other expenses, restructuring, and certain non-recurring items, totaling **$176.1 million** in Q2 2025, down from **$278.1 million** in Q2 2024 - Adjusted EBITDA is defined as net income (loss) plus depreciation and amortization, interest expense (income), income tax provision (benefit), other expense (income), restructuring charges (income), and certain other non-recurring items[38](index=38&type=chunk) Adjusted EBITDA Reconciliation | Metric (Millions) | Q2 2025 | Q2 2024 | YTD 2025 | YTD 2024 | | :------------------------ | :------ | :------ | :------- | :------- | | Net (Loss) Income | ($2.8) | $72.3 | ($1.6) | $120.1 | | Add Back: Interest Expense | $46.8 | $46.6 | $95.3 | $91.2 | | Add Back: Interest Income | ($1.2) | ($0.9) | ($2.4) | ($1.7) | | Add Back: Income Tax (Benefit) Provision | ($4.0) | $24.3 | ($3.1) | $36.8 | | Add Back: Depreciation and Amortization | $129.9 | $129.0 | $262.1 | $258.7 | | EBITDA | $168.7 | $271.3 | $350.3 | $505.1 | | Add Back: Restructuring Charges | $7.4 | $6.8 | $11.4 | $15.1 | | Adjusted EBITDA | $176.1 | $278.1 | $361.7 | $520.2 | [Non-GAAP Financial Measures - Net Debt to Adjusted EBITDA Ratio](index=10&type=section&id=Non-GAAP%20Financial%20Measures%20-%20Net%20Debt%20to%20Adjusted%20EBITDA) The Net Debt to Adjusted EBITDA ratio, a non-GAAP metric, measures debt management by dividing net debt by trailing twelve months Adjusted EBITDA, standing at **3.9x** as of June 30, 2025, up from **3.1x** and **2.6x** at December 31, 2024, and June 30, 2024, respectively, reflecting increased net debt and decreased trailing twelve months Adjusted EBITDA - The Net Debt to Adjusted EBITDA ratio is defined as net debt divided by Adjusted EBITDA, which management believes is significant for investors to assess the company's ability to manage its debt[40](index=40&type=chunk) Net Debt to Adjusted EBITDA Ratio | Metric (Millions) | June 30, 2025 | Dec 31, 2024 | June 30, 2024 | | :-------------------------------- | :------------ | :----------- | :------------ | | Total Debt | $2,996.7 | $2,842.2 | $2,910.9 | | Less: Cash and Cash Equivalents | ($223.8) | ($175.6) | ($182.1) | | Net Debt | $2,772.9 | $2,666.6 | $2,728.8 | | Trailing Twelve Months Adjusted EBITDA | $715.4 | $873.9 | $1,045.1 | | Net Debt to Adjusted EBITDA | 3.9 | 3.1 | 2.6 |

Core Insights - Olin Corporation reported a net loss of $1.3 million for Q2 2025, a significant decline from a net income of $74.2 million in Q2 2024, reflecting challenging market conditions [1][20][25] - Adjusted EBITDA for Q2 2025 was $176.1 million, down from $278.1 million in the same quarter last year, indicating operational difficulties despite a rise in sales [1][24] - Total sales increased to $1,758.3 million in Q2 2025 from $1,644.0 million in Q2 2024, driven by higher volumes across segments [1][20][22] Financial Performance - The Chlor Alkali Products and Vinyls segment reported sales of $979.5 million in Q2 2025, up from $920.3 million in Q2 2024, but segment earnings decreased to $64.9 million from $99.3 million due to lower pricing and higher operating costs [6][22] - The Epoxy segment experienced sales growth to $331.2 million from $317.7 million year-over-year, but the segment loss widened to $23.7 million from a loss of $3.0 million, primarily due to increased operating costs [7][22] - Winchester segment sales rose to $447.6 million from $406.0 million, with earnings dropping to $25.0 million from $70.3 million, attributed to lower commercial ammunition sales and rising raw material costs [8][22] Operational Challenges - The company faced operational challenges leading to higher costs, which offset solid commercial performance in the Chlor Alkali Products and Vinyls business [2][3] - The Epoxy business continues to struggle with subdued global demand and competition from subsidized Asian products, prompting a focus on cost reduction and growth in formulated solutions [3][4] - The defense business within Winchester is growing, but commercial sales are hindered by economic factors affecting consumer spending [4] Outlook and Guidance - For Q3 2025, Olin expects adjusted EBITDA to range between $170 million and $210 million, reflecting ongoing market challenges and potential cost increases [4] - The company remains committed to disciplined capital allocation and maximizing cash generation, supported by a strong financial foundation [4][10] Liquidity and Capital Management - As of June 30, 2025, Olin had a cash balance of $223.8 million and net debt of approximately $2.8 billion, with a net debt to adjusted EBITDA ratio of 3.9 times [10][26] - The company repurchased approximately 0.5 million shares at a cost of $10.1 million during Q2 2025, with $2.0 billion available under share repurchase authorizations [11][10]

Group 1 - Olin Corporation (OLN) is partnering with K2 to enhance its bleach distribution network in California and the Western United States, aiming to improve supply chain continuity and service responsiveness [1][8] - The collaboration is expected to reduce the transportation of railcar chlorine by increasing localized bleach production, thereby supporting safety and environmental goals [2][8] - Olin's market expertise combined with K2's regional production capabilities will ensure a reliable supply of bleach, setting higher standards in the industry [3] Group 2 - For Q2 2025, Olin expects steady performance in its Chemicals segment despite higher costs due to delayed maintenance, with adjusted EBITDA forecasted between $170 million and $210 million [4] - The company anticipates full-year 2025 capital expenditures to be in the range of $200 million to $220 million [4] - Olin's stock has decreased by 55.3% over the past year, compared to an 18.6% decline in the industry [4]

Core Insights - Olin Corporation and K2 Pure Solutions are expanding their strategic partnership to enhance bleach distribution in California and the Western United States, focusing on supply reliability and service responsiveness [1][2][3] Company Overview - Olin Corporation is a major global manufacturer and distributor of chemical products, including chlorine, caustic soda, and bleach, as well as a leading U.S. manufacturer of ammunition [4] - K2 Pure Solutions specializes in producing exceptionally pure bleach and other chlor-alkali products in an environmentally friendly manner [5] Partnership Details - The expanded partnership aims to improve regional bleach availability and reduce railcar chlorine transportation by enabling localized production and distribution [2] - Olin's CEO emphasized that this partnership is part of a long-term strategy to ensure a safe and reliable supply of bleach, which is critical for public health [3] - K2's Chairman highlighted the alignment of the partnership with their vision to enhance product delivery and leverage Olin's market expertise and customer relationships [3] Strategic Goals - The collaboration is designed to drive innovation and set new industry standards for bleach production and distribution, ensuring high-quality products for customers [3] - The partnership supports broader goals of safety, environmental responsibility, and supply chain resilience [2]

Company Overview - Olin Corporation is a leading vertically integrated global manufacturer and distributor of chemical products and a prominent U.S. manufacturer of ammunition [4] - The chemical products produced by the company include chlorine, caustic soda, vinyls, epoxies, chlorinated organics, bleach, hydrogen, and hydrochloric acid [4] - Winchester, a division of Olin, manufactures and distributes sporting ammunition, law enforcement ammunition, reloading components, small caliber military ammunition, industrial cartridges, and clay targets [4] Upcoming Financial Results - Olin Corporation will review its second quarter 2025 financial results on July 29, 2025, at 9:00 a.m. Eastern time [1] - A press release with financial statements and segment information will be distributed after the market closes on July 28, 2025 [1] Conference Call Details - U.S. callers can access the conference call toll-free at (877) 883-0383, while Canadian callers can dial (877) 885-0477, and international callers can reach (412) 902-6506 [2] - The call will also be available via a live webcast, with participants encouraged to pre-register [2] - A replay of the conference call will be available for one year on the company's website, with a telephonic replay accessible for 7 days starting at 12:00 p.m. Eastern time [3]

Group 1 - Olin Corporation (OLN) announced cost savings of $50 million to $70 million expected in 2025, driven by improvements in military sales [1] - The company has improved its outlook due to the positive impact of military sales on its financial performance [1] - Olin Corporation is actively repurchasing shares at a price of $28, which may indicate confidence in its future performance [1] Group 2 - The analysis focuses on cash flow statements and unlevered free cash flow figures to assess the company's financial health [1] - The financial models may include various metrics such as cost of capital, cost of debt, WACC, share count, and net debt [1] - The analysis typically does not cover growth stocks, emphasizing a preference for companies with a long history of reported financial figures [1]

Core Viewpoint - Olin Corporation reported a significant decline in net income for the first quarter of 2025, with adjusted earnings surpassing expectations despite lower overall revenues and EBITDA [1][2]. Financial Performance - Net income for Q1 2025 was $1.4 million, down from $48.6 million in the prior-year quarter [1]. - Adjusted earnings were 4 cents per share, beating the Zacks Consensus Estimate of a loss of 10 cents [1]. - Adjusted EBITDA decreased to $185.6 million from $242.1 million year-over-year [1]. Revenue Analysis - Total revenues for Q1 2025 were $1,644.2 million, slightly missing the Zacks Consensus Estimate of $1,661.2 million but showing a year-over-year increase of approximately 0.54% [2]. - Chlor Alkali Products and Vinyls segment revenues rose to $924.5 million, a 4.5% increase year-over-year, exceeding the consensus estimate of $923 million [2]. - Epoxy segment revenues fell by about 2.8% to $331.7 million, surpassing the consensus estimate of $329 million [3]. - Winchester segment revenues declined by approximately 5.2% to $388 million, missing the consensus estimate of $410 million [3]. Cash Flow and Share Repurchase - The company repurchased 0.7 million shares for $20.2 million during the quarter [4]. - Cash flow from operating activities turned negative, with an outflow of $86 million compared to an inflow of $81 million in the prior year [4]. Future Outlook - For Q2 2025, Olin expects results from its Chemicals businesses to remain similar to Q1, with anticipated adjusted EBITDA between $170 million and $210 million [5][6]. - The company forecasts improved performance in the Winchester unit due to seasonal demand and military sales [5]. Stock Performance - Olin's stock has experienced a 63.1% decline over the past year, compared to a 28.3% decline in the industry [7].

Shares of Olin Corp. (NYSE: OLN ) have been a terrible performer over the past year, losing more than half of their value. The PVC chemicals maker has struggled mightily with an oversupplied market and weak Chinese demand, as evidenced by ongoingOver fifteen years of experience making contrarian bets based on my macro view and stock-specific turnaround stories to garner outsized returns with a favorable risk/reward profile. If you want me to cover a specific stock or have a question for an article, just let ...