Olin reports Q2 EPS 62c, consensus 70c

Reports Q2 revenue $1.64B, consensus $1.71B. Ken Lane, President and Chief Executive Officer, said, “During the second quarter, the Olin team delivered a 15% sequential improvement in adjusted EBITDA. Our Chlor Alkali Products and Vinyls business benefited from seasonal demand improvement in the second quarter. The Epoxy business continued to improve sequentially as well, delivering higher margins and lower costs from our ongoing delivery of previously announced restructuring plans. At the same time, our Winchester business achieved higher military ammunition shipments and military project revenue, while commercial ammunition shipments were sequentially lower with higher propellant costs, resulting in a relatively flat performance versus the first quarter, as expected.”