OLIN Corp Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>OLIN Corp filed its quarterly 10-Q report for the period ending March 31, 2024, detailing financial performance and operational updates.</b>

AI Summary

OLIN Corp (OLN) filed a Quarterly Report (10-Q) with the SEC on April 26, 2024. OLIN Corp reported total revenue of $4,917.5 million for the period ending March 31, 2024. The company's fiscal year ends on December 31. The filing is a 10-Q, indicating a quarterly report. The filing was submitted on April 26, 2024. OLIN Corp is incorporated in Virginia.

Why It Matters

For investors and stakeholders tracking OLIN Corp, this filing contains several important signals. This 10-Q filing provides investors with the latest financial snapshot of OLIN Corp's performance in the first quarter of 2024, including revenue figures and key financial statement details. Understanding the company's financial health and operational status through this report is crucial for investors to make informed decisions regarding their holdings in OLIN Corp.

Risk Assessment

Risk Level: medium — OLIN Corp shows moderate risk based on this filing. The filing is a standard quarterly report (10-Q) which typically contains routine financial information and does not indicate any immediate, significant positive or negative events, but requires careful review of detailed financial statements for potential risks.

Analyst Insight

Review the detailed financial statements within the 10-Q to assess OLIN Corp's revenue trends, profitability, and debt levels for Q1 2024.

Key Numbers

• 4,917.5 — Total Revenue (for the period ending March 31, 2024)
• 4,826.3 — Revenue (for the period ending March 31, 2023)
• 4,536.5 — Revenue (for the period ending December 31, 2023)
• 2024-03-31 — Period End Date (Quarterly Report)
• 2024-04-26 — Filing Date (10-Q Submission)

Key Players & Entities

• OLIN Corp (company) — FILER
• OLIN Corp (company) — COMPANY CONFORMED NAME
• Virginia (location) — STATE OF INCORPORATION
• 2024-04-26 (date) — FILED AS OF DATE
• 2024-03-31 (date) — CONFORMED PERIOD OF REPORT
• 10-Q (document) — FORM TYPE
• 1934 Act (regulation) — SEC ACT
• 001-01070 (identifier) — SEC FILE NUMBER

FAQ

Industry Context

OLIN Corporation operates in the chemical industry, a sector subject to global economic conditions, raw material costs, and regulatory changes.

Regulatory Implications

As a chemical manufacturer, OLIN Corp is subject to environmental, health, and safety regulations from agencies like the EPA and OSHA.

What Investors Should Do

1. Analyze the revenue breakdown by segment if available in the full filing.
2. Compare Q1 2024 financial results against Q1 2023 and the previous quarter (Q4 2023).
3. Investigate any disclosed risk factors or management discussion and analysis for potential headwinds or opportunities.

Key Dates

• 2024-03-31: Quarter End — End of reporting period for the 10-Q
• 2024-04-26: Filing Date — Date OLIN Corp submitted the 10-Q filing

Year-Over-Year Comparison

This 10-Q filing for Q1 2024 shows total revenue of $4,917.5 million, compared to $4,826.3 million for Q1 2023, indicating a slight increase.

Key Financial Figures

• $1.00 — nge on which registered: Common Stock, $1.00 par value per share OLN New York Stock
• $4,917 — pment (less accumulated depreciation of $4,917.5, $4,826.4 and $4,536.5) 2,451.5 2,519
• $4,826.4 — s accumulated depreciation of $4,917.5, $4,826.4 and $4,536.5) 2,451.5 2,519.6 2,606.7
• $4,536.5 — depreciation of $4,917.5, $4,826.4 and $4,536.5) 2,451.5 2,519.6 2,606.7 Operating lea

Filing Documents

• oln-20240331.htm (10-Q) — 1180KB
• oln-ex101_cicxseverancexpl.htm (EX-10.1) — 170KB
• oln-ex102_severancexplan.htm (EX-10.2) — 132KB
• oln-ex311_2024331xq1.htm (EX-31.1) — 10KB
• oln-ex312_2024331xq1.htm (EX-31.2) — 10KB
• oln-ex32_2024331xq1.htm (EX-32) — 6KB
• oln-20240331_g1.jpg (GRAPHIC) — 28KB
• 0000074303-24-000105.txt (&nbsp;) — 8136KB
• oln-20240331.xsd (EX-101.SCH) — 53KB
• oln-20240331_cal.xml (EX-101.CAL) — 78KB
• oln-20240331_def.xml (EX-101.DEF) — 215KB
• oln-20240331_lab.xml (EX-101.LAB) — 674KB
• oln-20240331_pre.xml (EX-101.PRE) — 464KB
• oln-20240331_htm.xml (XML) — 1249KB

— Financial Information

Part I — Financial Information 3

Financial Statements

Item 1. Financial Statements 3 Condensed Balance Sheets 3 Condensed Statements of Operations 4 Condensed Statements of Comprehensive Income 5 Condensed Statements of Shareholders' Equity 6 Condensed Statements of Cash Flows 7 Notes to Condensed Financial Statements 8

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 23 Business Background 23 Executive Summary 23 Consolidated Results of Operations 24 Segment Results 25 Outlook 27 Environmental Matters 27 Legal Matters and Contingencies 28 Liquidity and Capital Resources 28

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 31

Controls and Procedures

Item 4. Controls and Procedures 32 Cautionary Statement Regarding Forward-Looking Statements 32

— Other Information

Part II — Other Information 34

Legal Proceedings

Item 1. Legal Proceedings 34

Risk Factors

Item 1A. Risk Factors 34

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 34

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 34

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 34

Other Information

Item 5. Other Information 34

Exhibits

Item 6. Exhibits 35

SIGNATURES

SIGNATURES 36 2 Table of Contents

— FINANCIAL INFORMATION

Part I — FINANCIAL INFORMATION

FINANCIAL STATEMENTS

Item 1. FINANCIAL STATEMENTS OLIN CORPORATION AND CONSOLIDATED SUBSIDIARIES Condensed Balance Sheets (In millions, except per share data) (Unaudited) March 31, 2024 December 31, 2023 March 31, 2023 Assets Current assets: Cash and cash equivalents $ 150.9 $ 170.3 $ 176.0 Receivables, net 907.4 874.7 932.1 Income taxes receivable 15.4 15.3 29.7 Inventories, net 823.9 858.8 1,089.9 Other current assets 54.2 54.1 70.5 Total current assets 1,951.8 1,973.2 2,298.2 Property, plant and equipment (less accumulated depreciation of $4,917.5, $4,826.4 and $4,536.5) 2,451.5 2,519.6 2,606.7 Operating lease assets, net 334.9 344.7 346.8 Deferred income taxes 90.7 87.4 67.3 Other assets 1,123.5 1,118.5 1,104.7 Intangible assets, net 235.6 245.8 264.8 Goodwill 1,423.3 1,424.0 1,420.9 Total assets $ 7,611.3 $ 7,713.2 $ 8,109.4 Liabilities and Shareholders' Equity Current liabilities: Current installments of long-term debt $ 80.9 $ 78.8 $ 9.6 Accounts payable 763.7 775.4 817.1 Income taxes payable 161.7 154.7 109.1 Current operating lease liabilities 68.2 69.3 72.1 Accrued liabilities 341.6 450.0 427.2 Total current liabilities 1,416.1 1,528.2 1,435.1 Long-term debt 2,684.8 2,591.3 2,764.6 Operating lease liabilities 274.1 283.1 282.8 Accrued pension liability 211.4 225.8 230.4 Deferred income taxes 470.0 476.2 505.0 Other liabilities 347.8 340.3 356.9 Total liabilities 5,404.2 5,444.9 5,574.8 Commitments and contingencies Shareholders' equity: Common stock, $1.00 par value per share: authorized, 240.0 shares; issued and outstanding, 119.4, 120.2 and 129.3 shares 119.4 120.2 129.3 Additional paid-in capital — 24.8 491.6 Accumulated other comprehensive loss ( 489.7 ) ( 496.3 ) ( 482.7 ) Retained earnings 2,542.3 2,583.7 2,354.6 Olin Corporation's shareholders' equity 2,172.0 2,232.4 2,492.8 Noncontrolling interests 35.1 35.9 41.8 Total equity 2,207.1 2,268.3 2,534.6 Total liabilities and equity $ 7,611.3 $ 7,713.2 $ 8,109.4 The accompanyin

View Full Filing

View this 10-Q filing on SEC EDGAR