Olin: 1Q Earnings Snapshot
CLAYTON, Mo. (AP) _ Olin Corp. (OLN) on Wednesday reported a first-quarter loss of $80 million, after reporting a profit in the same period a year earlier.
The Clayton, Missouri-based company said it had a loss of 51 cents per share. Losses, adjusted for non-recurring costs and restructuring costs, were 41 cents per share.
The results missed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 27 cents per share.
The chlor-alkali and ammunition producer’ posted revenue of $1.43 billion in the period, topping Street forecasts. Four analysts surveyed by Zacks expected $1.41 billion.
Olin shares have declined roughly 6% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $16.29, a fall of 27% in the last 12 months.