American ammunition and chlorine maker Olin reported a net income of $390.7 million, or $2.38 per diluted share in the third quarter of 2021, swinging from a net loss of $736.8 million, or $4.67 per diluted share in the same quarter in 2020. Its adjusted EBITDA stood at $707.0 million in the quarter, compared to $195.5 million a year earlier. Sales rose to $2.34 billion from $1.43 billion over the same period.
CEO Scott Sutton said adjusted EBITDA rose strongly despite supply-chain disruptions, production outages due to hurricanes, and raw material cost volatility. Sutton expects results from Olin’s Chlor Alkali Products and Vinyls division to increase significantly in the fourth quarter. In contrast, the Epoxy and Winchester segment is expected to seasonally decline year-on-year.
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Published on October 25, 2021 5:00 PM (GMT+8)Last Updated on October 25, 2021 5:00 PM (GMT+8)
