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Olin (OLN) investor relations material
Olin Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Fourth quarter 2025 results were significantly below expectations, with a net loss of $85.7 million and adjusted EBITDA of $67.7 million, due to operational issues, weak demand, higher costs, and restructuring across all segments.
Strategic actions included a long-term EDC supply agreement with Braskem, expansion of infrastructure in Brazil, and closure of the Guarujá, Brazil, epoxy plant for cost savings.
Epoxy segment achieved volume growth in Europe and secured significant growth contracts, while Winchester reduced inventory and right-sized costs in response to lower commercial ammunition demand.
Value-first commercial approach preserved ECU values and supported long-term agreements, including the Braskem deal to upgrade export EDC values.
Generated $321 million in operating cash flow in Q4, keeping net debt flat year-over-year.
Financial highlights
Full-year 2025 adjusted EBITDA was $651.8 million, down from $873.9 million in 2024; net loss for FY25 was $43.4 million.
Q4 2025 net loss per diluted share was $(0.75); sales for Q4 2025 were $1,665.1 million, nearly flat year-over-year.
Year-end 2025 liquidity stood at $1 billion, with a cash balance of $167.6 million.
Achieved $248 million in working capital reductions in 2025, excluding tax timing.
Capital spending totaled $226.3 million in 2025; $51 million of stock repurchased during the year.
Outlook and guidance
First quarter 2026 earnings and adjusted EBITDA expected to be lower than Q4 2025 due to continued seasonally weak demand and higher costs, especially in chlor-alkali.
Epoxy results projected to improve sequentially, driven by higher volumes, lower costs, and new supply agreements in Europe.
Winchester results expected to modestly improve, with higher commercial ammunition volume and pricing offsetting rising input costs.
Full-year 2026 outlook for chlor-alkali remains challenging, with global vinyls pricing under pressure and rising U.S. input costs.
Expect to realize $100–$120 million in additional annual cost savings in 2026 from Beyond250 program.
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- BG
Adjusted EPS was $7.57, with strong segment EBIT and stable 2026 guidance. - ATS
Q3 revenue rose 17% to $760.7M, with strong backlog and Q4 revenue guided at $710–$750M. - SWK
Gross margin and net income rose, with CAM divestiture set to reduce debt and boost 2026 outlook. - PMI
FDA-approved artificial heart maker registers 17M shares for resale amid ongoing losses and risks. - ARCC
FY 2025 net income was $1,299M, with a $0.48/share Q1 2026 dividend declared. - SDST
Development-stage lithium refiner registers shares for resale amid high risk and capital needs. - DAC
Q2 2025 saw revenue growth, high charter coverage, and strong liquidity despite rising costs. - OCSL
Net investment income was $36.7M ($0.42/share) as NAV fell to $16.30 and a $0.40 dividend was declared. - NUWE
Registering 4.28M shares for resale, proceeds from warrant exercises support working capital. - WBD
Board selects Netflix merger for streaming and studios, with Discovery Global to be spun off.
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