Olin Expects H2'2024 Adjusted EBITDA Would Have Been Comparable To H1'2024
Portfolio Pulse from Benzinga Newsdesk
Olin Corporation expects its H2 2024 adjusted EBITDA to be comparable to H1 2024. The anticipated improvement in demand for its Chlor Alkali Products and Vinyls business has been slower than expected. The company estimates a $100 million reduction in Q3 2024 adjusted EBITDA due to storm-related costs and lost sales. However, the Winchester business is expected to see improved results in Q3 2024 due to stronger commercial ammunition demand and higher military shipments.
July 25, 2024 | 8:21 pm
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Olin Corporation expects its H2 2024 adjusted EBITDA to be comparable to H1 2024. The company estimates a $100 million reduction in Q3 2024 adjusted EBITDA due to storm-related costs and lost sales. However, the Winchester business is expected to see improved results in Q3 2024 due to stronger commercial ammunition demand and higher military shipments.
The reduction in Q3 2024 adjusted EBITDA by $100 million due to storm-related costs and lost sales is a negative factor. However, the expected improvement in the Winchester business provides a partial offset. Overall, the short-term impact on OLN's stock price is likely to be negative.
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