Olin Q1 2024 GAAP EPS $0.40 Beats $0.37 Estimate, Sales $1.635B Miss $1.650B Estimate
Portfolio Pulse from Benzinga Newsdesk
Olin Corporation (NYSE:OLN) reported Q1 2024 earnings of $0.40 per share, surpassing the consensus estimate of $0.37 by 8.11%. However, its quarterly sales of $1.635 billion fell short of the expected $1.650 billion, marking an 11.33% decrease from the previous year's $1.844 billion.
April 25, 2024 | 8:13 pm
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Olin Corporation reported higher-than-expected Q1 2024 earnings per share but missed sales estimates, with a significant year-over-year sales decline.
While Olin's earnings per share exceeded expectations, the miss on sales forecasts and the substantial decrease in sales compared to the previous year could lead to mixed investor sentiment. The positive earnings surprise may support the stock price, but the sales miss and year-over-year decline could temper gains, leading to a neutral short-term impact.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100