Olin Corporation (NYSE:OLN) reported third-quarter 2026 financial results on October 29, 2026, disclosing net income of $14.4 million and adjusted EBITDA of $191.4 million, while announcing updated expectations for the close of its proposed merger with Huntsman Corporation.

Key Highlights

  • Net income: $14.4 million, or $0.13 per diluted share, for Q3 2026, compared to $42.8 million, or $0.37 per diluted share, in Q3 2025.
  • Adjusted EBITDA: $191.4 million in Q3 2026, down from $222.4 million in Q3 2025.
  • Sales: $1,747.7 million in Q3 2026, compared to $1,713.2 million in Q3 2025.
  • Merger timeline: The company now expects the Olin-Huntsman merger to close in the first quarter of 2027, subject to customary closing conditions, according to the filing.
  • Q4 2026 guidance: Adjusted EBITDA is expected to be in the range of $80 million to $100 million.
  • Liquidity: Cash balance of $214.8 million and available liquidity of approximately $1.3 billion as of September 30, 2026.
  • Net debt: Approximately $2.8 billion, with a net debt to adjusted EBITDA ratio of 5.2 times at quarter end.

Olin's Q3 2026 Segment Results and Merger Progress

According to the filing, Olin's Chlor Alkali Products and Vinyls segment reported sales of $850.8 million in Q3 2026, down from $924.0 million in Q3 2025. The company attributed the decrease primarily to lower trading volumes associated with the Blue Water Alliance, which concluded operations at the end of 2025, and lower vinyl chloride monomer (VCM) volumes. Segment earnings fell to $71.3 million from $127.6 million in the prior-year period. The filing noted that operating issues with the VCM plant at the Freeport, Texas facility resulted in higher costs and reduced profit from lost sales of $32.1 million.

The Epoxy segment reported sales of $412.2 million, up from $349.6 million in Q3 2025, with segment earnings of $0.6 million compared to a segment loss of $32.2 million a year earlier. The filing attributed the improvement to higher volumes and lower operating costs. Winchester segment sales rose to $484.7 million from $439.6 million, with segment earnings increasing to $33.8 million from $19.3 million, driven primarily by higher commercial ammunition pricing and volume, partially offset by higher commodity metal costs.

Regarding the proposed merger with Huntsman Corporation, the filing stated that shareholders of both companies "overwhelmingly approved the transaction" and that the waiting period under the U.S. Hart-Scott-Rodino Act expired, satisfying a key closing condition. The filing disclosed that Q3 2026 results included acquisition-related costs of $13.7 million related to the pending merger. The company's fourth-quarter outlook, as described in the filing, reflects normal seasonality, elevated year-end customer destocking in Chemicals, higher feedstock costs, continued pressure from subsidized Asian exports, and significant planned maintenance turnarounds. The filing notes that statements regarding the merger and future performance are forward-looking and subject to risks and uncertainties described in the company's cautionary language.

What Was Disclosed

Olin Corporation disclosed Q3 2026 earnings results, segment-level financial performance across three business units, updated liquidity and debt figures as of September 30, 2026, a revised merger timeline with Huntsman, and Q4 2026 adjusted EBITDA guidance of $80 million to $100 million.