Olin Corporation is a global producer and supplier of chemical products, serving markets across the United States, Europe, and internationally. The company's ...
Olin Corporation is a diversified industrial company with roots dating to 1892, when Franklin W. Olin founded the Equitable Powder Company in East Alton, Illinois. The company’s historical development also incorporates the legacy of Mathieson Alkali Works, another business founded in 1892. Today, Olin operates internationally and supplies products to ...Olin Corporation is a diversified industrial company with roots dating to 1892, when Franklin W. Olin founded the Equitable Powder Company in East Alton, Illinois. The company’s historical development also incorporates the legacy of Mathieson Alkali Works, another business founded in 1892. Today, Olin operates internationally and supplies products to industrial customers, distributors, retailers, government agencies, and major contractors.
The Chlor Alkali Products and Vinyls segment produces essential industrial chemicals used throughout manufacturing, water treatment, construction, pulp and paper, energy, and other industries. Its product portfolio includes chlorine, caustic soda, hydrochloric acid, hydrogen, bleach products, potassium hydroxide, sodium hypochlorite, ethylene dichloride, vinyl chloride monomer, and various chlorinated organic compounds and solvents. These products are often basic chemical building blocks, so demand is closely tied to industrial production, housing, infrastructure, and broader economic activity. Olin’s vertically integrated manufacturing network can help connect feedstocks, intermediates, and finished chemical products, although the business remains exposed to energy, raw-material, transportation, environmental, and regulatory costs.
The Epoxy segment supplies epoxy materials and precursors used in adhesives, protective coatings, flooring, electrical laminates, electronics, composites, marine applications, construction, and wind-turbine blades. Products include acetone, phenol, cumene, bisphenol, allyl chloride, epichlorohydrin, glycerin, liquid and solid epoxy resins, converted epoxy resins, and additives. Performance depends on construction, infrastructure, automotive, electronics, renewable-energy, and industrial-coating markets. Manufacturing costs include feedstocks, utilities, plant maintenance, logistics, environmental compliance, and capital investment.
Winchester is Olin’s ammunition business and a leading U.S. ammunition manufacturer. It produces sporting shotshell, centerfire, and rimfire ammunition, small-caliber military ammunition, and industrial products such as gauge loads and powder-actuated tool loads. Customers include hunters, recreational shooters, law-enforcement organizations, construction users, the U.S. government, and defense contractors. Demand can be influenced by defense procurement, recreational participation, retail inventory cycles, and changes in ammunition component costs.
Kenneth Todd Lane became Olin’s president and chief executive officer and joined its board in March 2024. The company trades on the New York Stock Exchange under OLN. In the supplied trailing-period financial snapshot, Olin had a market capitalization of approximately $2.1 billion, revenue per share of about $58.85, and reported negative net income per share of approximately $1.22. The same snapshot showed meaningful leverage, with debt-to-equity near 1.99, while the company continued to pay a dividend of approximately $0.80 per share. These figures indicate that profitability and balance-sheet management are important considerations alongside Olin’s diversified product portfolio.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$6.8B
+3.7%
+10.0%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$-42.8M
-139.4%
+84.0%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+7.4%
-34.4%
+104.1%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
+1.7%
-63.2%
+161.1%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
-0.6%
-138.0%
+85.4%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$247.9M
-19.5%
+77.1%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
+3.7%
-22.4%
+79.2%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
170.7%
+9.6%
+4.3%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
1.21x
-5.1%
+4.4%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator: Good morning. And welcome to Olin Corporation's Second Quarter 26 Earnings Conference Call. To withdraw your question, Please note this event is being recorded. I would now like to turn the conference over to Steve A. Keenan, Olin's Director of Investor Relations. Please go ahead, Steve.
Steve A. Keenan: Thank you, operator. Good morning, everyone. We appreciate you joining us today. Review Olin's second quarter 2026 results. Please keep in mind that today's discussion, together with the associated slides, as well as the question and answer session that follows will include statements regarding estimates or expectations of future performance. Please note these are forward looking statements, and that Olin's actual results could differ materially from those projected. Some of the factors that could cause actual results to differ from our projections are described without limitations in the risk factors section of our most recent Form 10-Ks and in yesterday's second quarter earnings press release. A copy of today's transcript and slides will be available on our website in the Investors section under Past Events. Our earnings press release and related financial data and information are available under press releases. With me this morning are Kenneth Todd Lane, Olin's president and CEO and Todd A. Slater, Olin's CFO. We will start with some prepared remarks, then we will look forward to taking your questions. Let me now turn the call over to Olin's President and CEO, Kenneth Todd Lane.
Kenneth Todd Lane: Thank you, Steve, and thanks to everyone for joining us today. We appreciate your interest in Olin and taking the time to join us on such a busy morning. Let's begin with some highlights from the second quarter on slide 3. On June 16, we were very pleased to announce our planned merger with Huntsman. Bringing together 2 highly complementary businesses, to create a world scale vertically integrated North American focused chemical leader with more than $12 billion in sales. Second quarter also saw the conflict involving Frank disrupt chemical supply chains and increase prices. Markets rebalanced as the quarter progressed although significant uncertainty remains. Caustic soda and EDC export pricing was a second quarter bright spot reflecting the supply chain disruptions at the beginning of the quarter. This was partially offset by an unplanned VCM shutdown at our Freeport, Texas facility. Epoxy also achieved higher pricing across all products during the second quarter as hydrocarbon feedstock costs rose and availability tightened. Epoxy demand remained weak in Europe, but the US saw moderate seasonal demand improvement in the quarter. Winchester's commercial ammunition recovery continues as year over year demand improves and our pricing initiatives to offset rising metals costs start to gain traction. Domestic and international military sales continue to show strength. Against the backdrop of weak demand, and volatile global events, Olin's …