Olin Announces Fourth Quarter 2023 Results

Highlights

• Fourth quarter 2023 net income of $52.9 million, or $0.43 per diluted share
• Quarterly adjusted EBITDA of $210.1 million
• Share repurchases of $711.3 million in 2023
• Expect 2024 adjusted EBITDA to improve from 2023

CLAYTON, Mo., Jan. 25, 2024 /PRNewswire/ -- Olin Corporation (NYSE: OLN) announced financial results for the fourth quarter ended December 31, 2023. Fourth quarter 2023 reported net income was $52.9 million, or $0.43 per diluted share, which compares to fourth quarter 2022 reported net income of $196.6 million, or $1.43 per diluted share. Fourth quarter 2023 adjusted EBITDA of $210.1 million excludes depreciation and amortization expense of $128.5 million, insurance recoveries of $22.0 million, and restructuring income of $2.4 million. Fourth quarter 2022 adjusted EBITDA was $441.8 million. Sales in the fourth quarter 2023 were $1,614.6 million, compared to $1,977.0 million in the fourth quarter 2022. Full year 2023 reported net income was $460.2 million, or $3.57 per diluted share, which compares to full year 2022 reported net income of $1,326.9 million, or $8.94 per diluted share.

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