OLN
Olin Corporation20.42
-1.10-5.11%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Reaffirms trough; caustic tightens, Winchester greens.
Q&A largely reaffirmed the scripted trough narrative, but pinpointed caustic supply tightness—not demand—as the real constraint, fueling pricing momentum into Q2. Chlorine pipeline weakness pinned on December destocking, with no Q1 repeat expected. Winchester military sales grew robustly, offsetting commercial slump; retailer demand shows green shoots, but pricing discipline is key to counter copper headwinds. Epoxy flagged for positive 2026 EBITDA via $40-50M Stade savings alone. Management dodged granular Q1 bridges and PVC timelines, staying non-specific on self-help impacts. Trough drags on. Watch caustic execution, Winchester pricing.
Key Stats
Market Cap
2.34BP/E (TTM)
44.39Basic EPS (TTM)
0.46Dividend Yield
0.04%Recent Filings
10-K
FY2025 results
Olin Corporation posted a $100.5 million net loss for FY2025 ended December 31, 2025, down sharply from $108.6 million net income in FY2024, as sales rose 4% to $6.8 billion yet margins crumbled under pricing pressure and higher costs across all segments. Chlor Alkali Products and Vinyls sales edged up 1% to $3.7 billion but income plunged 39% to $181 million, hit by a $75 million Q4 litigation charge on a VCM dispute, lower EDC pricing, and maintenance costs, despite volume gains and a $34.5 million 45V tax credit. Epoxy sales surged 12% to $1.4 billion on volumes but swung to a deeper $104 million loss from higher operating costs and inventory reductions; Winchester sales grew 2% to $1.7 billion on military gains, yet income cratered 72% to $68 million from commercial weakness and metal costs. Q4 momentum stalled amid these headwinds. Debt stood at $2.8 billion (60% of capitalization) with $1.2 billion revolver capacity; $51 million in buybacks and $92 million dividends were paid. Q1 2026 outlook sees chemicals improving ex-litigation but pressured by maintenance and power costs, Winchester modestly up. Labor disputes loom at key sites.
8-K
Olin books $75M litigation charge
Olin Corporation recorded a $75 million pre-tax charge in Q4 2025 after a jury verdict favoring Shintech in a pricing and force majeure dispute over VCM supply. The loss stems from 2023 litigation; Olin plans $185 million payment, including reserves, in H1 2026. Disappointed, Olin assesses appeals. Verdict hits hard.
8-K
Q4 loss amid headwinds
Olin posted Q4 2025 net loss of $85.7 million, or ($0.75) per share, versus $10.7 million profit last year, amid trough markets, destocking, and turnarounds; adjusted EBITDA fell to $67.7 million from $193.4 million. Sales held at $1,665.1 million. Net debt stayed ~$2.7 billion. Epoxy closure in Brazil saves $10 million yearly.
8-K
Q4 EBITDA outlook slashed
Olin slashed its Q4 2025 adjusted EBITDA outlook to ~$67 million from $110-130 million, hit hard by Chlor Alkali Products and Vinyls. Freeport, Texas operations suffered extended maintenance, unplanned downtime, and weak pipeline chlorine demand. Site's back online. Operational snags exposed supply vulnerabilities.
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