MOSCOW (MRC) - Olin Corporation (Clayton, Missouri) has reported fourth-quarter net income of USD306.6 million or USD1.89 per share, compared to last year's net loss of USD33.0 million or USD0.21 per share, as per the company's statement.
Sales for the quarter rose to USD2.43 billion from USD1.65 billion last year.
Analysts polled by Thomson Reuters expected earnings of USD2.44 per share and revenues of USD2.38 billion for the quarter. Analysts' estimates typically exclude one-time items.
As MRC informed earlier, in October, 2021, Olin Corporation announced that it plans to permanently shut down the remaining diaphragm-grade chlor-alkali capacity at its McIntosh, Alabama facility, by the end of third quarter 2022. The closure of approximately 200,000 electrochemical unit (ECU) tons is in addition to the 200,000 ECU tons shutdown at McIntosh in first quarter 2021.
We remind that in July 2021, Olin Corporation entered into an agreement with ASHTA Chemicals, Inc. to purchase and sell the chlorine produced at ASHTA's Ashtabula, OH facility. Existing contracts will be honored for chlorine customers of both companies.
Olin Corporation is a leading vertically-integrated global manufacturer and distributor of chemical products and a leading US manufacturer of ammunition. The chemical products produced include chlorine and caustic soda, vinyls, epoxies, chlorinated organics, bleach, and hydrochloric acid. Winchester's principal manufacturing facilities produce and distribute sporting ammunition, law enforcement ammunition, reloading components, small caliber military ammunition and components, and industrial cartridges.