Olin Announces Fourth Quarter 2024 Results

Jan. 30, 2025 4:05 PM ETOlin Corporation (OLN)

Highlights

• Fourth quarter 2024 net income of $10.7 million, or $0.09 per diluted share
• Quarterly adjusted EBITDA of $193.4 million

CLAYTON, Mo., Jan. 30, 2025 /PRNewswire/ — Olin Corporation (OLN) announced financial results for the fourth quarter ended December 31, 2024. Fourth quarter 2024 reported net income was $10.7 million, or $0.09 per diluted share, which compares to fourth quarter 2023 reported net income of $52.9 million, or $0.43 per diluted share. Fourth quarter 2024 adjusted EBITDA of $193.4 million excludes depreciation and amortization expense of $129.2 million and restructuring charges of $10.3 million. Fourth quarter 2023 adjusted EBITDA was $210.1 million. Sales in the fourth quarter 2024 were $1,671.3 million, compared to $1,614.6 million in the fourth quarter 2023. Full year 2024 reported net income was $108.6 million, or $0.91 per diluted share, which compares to full year 2023 reported net income of $460.2 million, or $3.57 per diluted share.

Ken Lane, President, and Chief Executive Officer, said, “While we expect challenging industry conditions to continue into 2025, we will stay focused on optimizing our core businesses through our value-first commercial approach as well as controlling our costs as we described during our Investor Day in December. We remain confident in our ability to generate higher trough-level earnings and cash flow despite the difficult environment.”

Lane continued, “We expect first quarter 2025 results from our Chemicals businesses to be lower than fourth quarter 2024 as our disciplined market participation continues. Our Chlor Alkali business expects sequentially lower chlorine and caustic soda volumes and continued pricing pressure on ethylene dichloride (EDC). As we announced at our Investor Day in December, Olin will enter the domestic polyvinyl chloride (PVC) resin market in the first quarter 2025 through our EDC tolling agreement. This pilot initiative expands our chlorine optionality, upgrades the value of Olin EDC and will guide our PVC resin go-to-market strategy in the coming years.

“Global epoxy demand remains weak, and our U.S. and European Epoxy business remains significantly challenged by subsidized Asian competition. Our Epoxy business focus remains on maximizing the chlor alkali integration value, continuing to reduce our costs and growing our formulated solutions business.

EPOXY

Epoxy sales for the fourth quarter 2024 were $282.2 million, compared to $313.1 million in the fourth quarter 2023. The decrease in sales was primarily due to lower volumes and pricing. Fourth quarter 2024 segment loss was ($27.4) million, compared to segment loss of ($23.1) million in the fourth quarter 2023. The $4.3 million decrease in segment results was primarily due to lower volumes and pricing, partially offset by lower raw material and operating costs. Epoxy fourth quarter 2024 results included depreciation and amortization expense of $13.1 million compared to $13.0 million in the fourth quarter 2023.

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