Olin: 2Q Earnings Snapshot
CLAYTON, Mo. (AP) _ Olin Corp. (OLN) on Tuesday reported second-quarter net income of $58.6 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Clayton, Missouri-based company said it had profit of 35 cents. Earnings, adjusted for non-recurring costs and restructuring costs, were 54 cents per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 39 cents per share.
The chlor-alkali and ammunition producer’ posted revenue of $1.73 billion in the period.
Olin shares have decreased 17 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $29.50, increasing slightly in the last 12 months.