Olin reports Q4 2024 net income of $10.7 million
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Olin reports Q4 2024 net income of $10.7 million

Sales in the fourth quarter 2024 were $1,671.3 million

  • By ICN Bureau | February 02, 2025

Olin Corporation 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.

"We expect our Winchester first quarter 2025 results to be slightly lower than fourth quarter 2024, as commercial customers continue to work down elevated inventories along with softer consumer demand. As we announced on January 21, 2025, Winchester entered into a definitive agreement to acquire the ammunition manufacturing assets of AMMO, Inc. We expect this acquisition to be immediately accretive and to enable our broader participation in high-margin specialty calibers. The transaction is expected to close in second quarter 2025."

Commenting on the overall first quarter outlook, Lane continued, "We expect Olin's first quarter 2025 adjusted EBITDA to be in the range of $150 million to $170 million, and we will continue Olin's disciplined capital allocation strategy to prioritize share repurchases from available cash flow. During 2024, we repurchased approximately 5% of outstanding Olin shares."

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