Key Highlights

  • Net loss was $13.3 million, or $0.12 per share, against a loss of $1.3 million.
  • Adjusted EBITDA rose to $191.3 million from $176.1 million.
  • Sales were $1,741.9 million, against $1,758.3 million a year earlier.
  • Shares closed at $14.87, up $0.16, or 1%, at Tuesday's close.

Olin Corporation (NYSE:OLN)'s second quarter combined higher adjusted EBITDA with a wider reported net loss, as an unplanned shutdown at its Freeport, Texas vinyl chloride monomer Facility and acquisition-related costs tied to its pending Merger with Huntsman Corporation weighed on results. Management said the Freeport disruption reduced second quarter adjusted EBITDA by $40 million.

OLN operates through three segments: Chlor Alkali Products and Vinyls, Epoxy, and Winchester, which produces ammunition. The company ended the quarter with $177.4 million in cash and approximately $2.85 billion in net debt.

Second quarter 2026 results included $10.6 million of acquisition-related costs tied to the company's pending merger with Huntsman Corporation.

Second quarter 2026 compared with the prior-year quarter

Sales were $1,741.9 million, against $1,758.3 million. Chlor Alkali Products and Vinyls segment Earnings were $53.4 million, against $64.9 million, which the company attributed in part to the Freeport outage, partly offset by improved caustic soda and ethylene dichloride export pricing tied to Supply chain disruptions.

Epoxy sales rose to $422.1 million from $331.2 million, with segment earnings of $16.0 million against a segment loss of $23.7 million a year earlier, which the company attributed to higher volumes and pricing across all products as feedstock costs rose. Winchester sales rose to $500.3 million from $447.6 million, with segment earnings of $28.1 million against $25.0 million.

Net loss was $13.3 million, or $0.12 per diluted share, against a net loss of $1.3 million, or $0.01 per share, a year earlier. Adjusted EBITDA, which excludes $122.1 million of Depreciation and amortization, $10.6 million of acquisition-related costs and $10.5 million of restructuring charges, was $191.3 million, against $176.1 million.

Management outlook and stated risks

Management said it expects its Chemical businesses' third quarter 2026 results to be comparable with the second quarter, as reduced operating rates at the Freeport vinyl chloride monomer facility and weaker ethylene dichloride pricing offset expected stronger caustic soda volumes. The company said the Freeport disruption is expected to have an estimated $20 million impact on third quarter adjusted EBITDA, with full rates planned to resume late in the quarter.

Management said it expects seasonally improving commercial Demand at Winchester to support sequential earnings growth, and forecast third quarter 2026 adjusted EBITDA in a range of $160 million to $200 million.

Where Things Stand

Management tied its near-term plans to completing its pending merger with Huntsman Corporation, which it said drove $10.6 million of acquisition-related costs in the quarter, and to restoring full operating rates at its Freeport facility later in the third quarter.