Olin announced an updated outlook for the second quarter 2023. Olin’s second quarter 2023 adjusted EBITDA is expected to be in the $350M-$360M range, which is lower than previously expected mainly due to an approximately $50M impact from an extended vinyl chloride monomer plant turnaround and additionally due to a lower market participation rate by Olin in the face of deteriorating market conditions. The planned vinyl chloride monomer plant maintenance turnaround at the Freeport, Texas facility required an extension of approximately seven weeks and resulted in higher unabsorbed fixed manufacturing costs, reduced profit from lost sales, and higher turnaround expense. The vinyl chloride monomer plant has returned to operations at a reduced rate.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on OLN:
- Olin Updates Second Quarter 2023 Outlook and Announces Additional Epoxy Restructuring Actions
- Olin price target lowered to $80 from $83 at Piper Sandler
- Olin price target raised to $76 from $74 at RBC Capital
- Olin price target raised to $90 from $89 at Stifel
- Olin reports Q1 EPS $1.16, consensus $1.33