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OLN

Olin Corp.

$29.77

0.29 (0.98%)

17:32
06/19/17
06/19
17:32
06/19/17
17:32

Olin Corp. sees Q2 adjusted EBITDA reduced by approximately $45M

Olin Corporation announced an updated outlook for the second quarter 2017. Olin's second quarter adjusted EBITDA will be reduced by approximately $45M due to the combined impact from an extended vinyl chloride monomer (VCM) plant turnaround and an unplanned Bisphenol A plant outage. For full year 2017, Olin is reiterating the annual adjusted EBITDA forecast of $1B with upside opportunities and downside risks of approximately 5%. During the second quarter, the planned VCM plant 40-day maintenance turnaround at the Freeport, Texas facility required an extension of approximately four weeks. This maintenance turnaround is performed once every three years. In addition, the Bisphenol A plant at the Freeport epoxy facility experienced an unplanned outage. This epoxy outage lasted approximately three weeks. Both the VCM plant and the Bisphenol A plant have returned to normal operations. Olin expects second half 2017 adjusted EBITDA to be significantly higher than the first half 2017 levels. The second half 2017 adjusted EBITDA is forecast to benefit from reduced maintenance turnaround activity compared to the first half levels. This benefit is expected to be approximately $90M-$100M. The Chlor Alkali Products and Vinyls business is forecast to benefit in second half 2017 from seasonally stronger demand, improved caustic soda and chlorine prices and lower ethylene costs. The second half 2017 Epoxy results are expected to benefit from lower raw material costs than were experienced in the first half 2017. In the second half 2017, Winchester will benefit from the seasonally strong third quarter commercial ammunition demand and an expected improvement in military sales.

OLN Olin Corp.
$29.77

0.29 (0.98%)

02/02/17
MONN
02/02/17
DOWNGRADE
MONN
Neutral
Olin Corp. downgraded to Neutral from Buy at Monness Crespi
02/02/17
02/02/17
DOWNGRADE

Neutral
Olin Corp. downgraded to Neutral on valuation at Monness Crespi
As previously reported, Monness Crespi downgraded Olin Corp. to Neutral from Buy. Analyst Chris Shaw said shares have surpassed his prior target of $28 and believes valuation reflects much of the upside in 2017.
05/08/17
BOFA
05/08/17
INITIATION
Target $40
BOFA
Buy
Olin Corp. initiated with a Buy at BofA/Merrill
BofA/Merrill analyst Steve Byrne initiated Olin with a Buy and a $40 price target telling investors the company will benefit from higher commodity prices and has substantial latent pricing power. Byrne views valuation as compelling on peak earnings and replacement costs.
05/12/17
TUDR
05/12/17
INITIATION
Target $37
TUDR
Buy
Olin Corp. initiated with a Buy at Tudor Pickering
Tudor Pickering initiated Olin Corp to Buy with a $37 price target.

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