Olin Corp reported a Q2 loss of $0.12 per share on $1.7 billion sales, missing estimates and widening losses 12x year-over-year.
Olin Corp (OLN) shares fell 17.8% Friday after reporting a Q2 loss of $0.12 per share, missing analyst estimates of $0.12 profit. Sales reached $1.7 billion, below the $1.8 billion forecast.
The company’s Chlor Alkali Products and Vinyls segment saw a 14% year-over-year sales decline, offset by growth in Epoxy (27%) and Winchester (12%). Despite a 1% overall sales drop, losses surged from $0.01 per share a year ago to $0.12.
Olin is merging with Huntsman (HUN), leading some analysts to suggest a potential “big bath” accounting strategy to improve post-merger results.