Olin reports Q4 EPS 43c, consensus 19c

Reports Q4 revenue $1.61B, consensus $1.52B. Reports Q4 adjusted EBITDA $210.1M vs. $441.8M last year. CEO Scott Sutton said, “Through the challenging economic environment of 2023, Olin successfully demonstrated our unique winning model by delivering $1.3B of adjusted EBITDA and Bcorresponding cash flows enabling the 2023 repurchase of approximately 10% of our outstanding shares. As we are confident in our company’s future and the strength of our earnings and cash flow, we plan to continue our capital allocation strategy, while committing to maintain an investment-grade balance sheet and achieving additional investment-grade credit ratings…We anticipate our initiative supports an improved 2024 adjusted EBITDA as compared to 2023. Considering the ongoing difficult global economic environment and our ‘value accelerator initiative,’ we expect first quarter 2024 results from our Chemical businesses to be slightly higher than fourth quarter 2023 levels. We also expect our Winchester business 1Q24 results to increase sequentially from 4Q23. Overall, we expect Olin’s 1Q24 adjusted EBITDA to improve by approximately 10% from 4Q23 levels.”