Olin Corporation Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 26, 2023 at 04:05 pm EDT
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Olin Corporation reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 1,671.4 million compared to USD 2,321.7 million a year ago. Net income was USD 104.1 million compared to USD 315.2 million a year ago. Basic earnings per share from continuing operations was USD 0.84 compared to USD 2.23 a year ago. Diluted earnings per share from continuing operations was USD 0.82 compared to USD 2.18 a year ago.
For the nine months, sales was USD 5,218.4 million compared to USD 7,399.2 million a year ago. Net income was USD 407.3 million compared to USD 1,130.3 million a year ago. Basic earnings per share from continuing operations was USD 3.19 compared to USD 7.62 a year ago. Diluted earnings per share from continuing operations was USD 3.12 compared to USD 7.44 a year ago.
Olin Corporation is a vertically integrated global manufacturer and distributor of chemical products and a manufacturer of ammunition. The Company operates through three segments: Chlor Alkali Products and Vinyls, Epoxy and Winchester. The Chlor Alkali Products and Vinyls segment manufactures and sells chlorine and caustic soda, ethylene dichloride and vinyl chloride monomer, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, hydrochloric acid, hydrogen, bleach products and potassium hydroxide. The Epoxy segment produces and sells a full range of epoxy materials and precursors, including aromatics (acetone and phenol), allyl chloride, epichlorohydrin, liquid epoxy resins, solid epoxy resins and systems and growth products, such as converted epoxy resins and additives. The Winchester segment produces and sells sporting ammunition, reloading components, small caliber military ammunition and components, industrial cartridges and clay targets.