Olin: 4Q Earnings Snapshot
CLAYTON, Mo. (AP) _ Olin Corp. (OLN) on Tuesday reported a fourth-quarter loss of $77.2 million, after reporting a profit in the same period a year earlier.
The Clayton, Missouri-based company said it had a loss of 49 cents per share. Losses, adjusted for restructuring costs and non-recurring costs, came to 8 cents per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 10 cents per share.
The chlor-alkali and ammunition producer’ posted revenue of $1.39 billion in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $1.33 billion.
For the year, the company reported a loss of $11.3 million, or 7 cents per share, swinging to a loss in the period. Revenue was reported as $6.11 billion.
Olin shares have fallen almost 8% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $15.89, a drop of 34% in the last 12 months.