OLN NYSE Russell 1000 Earnings call
Olin Corporation (OLN) · Q2 2026 results and valuation
Share price: $17.89 · 2026-11-11
Results Q2 2026 vs Q1 2026 · previous quarter · published 31 Jul 2026 and 8 May 2026
Net loss narrowed on the previous quarter. Management sounded cautious, in its script and in answers to analysts.
Only a basic analysis is available for this company at the moment.
1 · Numbers
Loss narrowed
Net income vs Q1 2026
Outlook given
Net income -13.3M vs -83.0M
Revenue +10.0%
Net income -13.3M vs -2.8M in Q2 2025 and -83.0M last quarter.
2 · How management spoke
Cautious
Among the least upbeat of all company calls
Answers to analysts: restrained, in line with the script.
Similar to last call.
3 · What stood out
Figure
The company is combining two complementary businesses to create a vertically integrated chemical leader with more than $12 billion in scale.
Valuation
Is Olin Corporation undervalued?
Reverse DCF. Free cash flow from the last full fiscal year (2025-12-31), grown for 10 years, discounted back, plus a terminal value. “Implied growth” is the rate the current price assumes.
The projected cash flow doesn't cover the debt, so the price is far above the model's fair value.
Current price
$17.89
close of 2026-11-11
Market implies growth of iThe yearly free-cash-flow growth, for the next 10 years, that today’s share price already assumes. If you believe the company grows faster than this, the stock is cheap under this model; slower, and it is expensive.
+7.8% for 10 yrs
Fair value / share
$-13.61
Buy below
$-10.20
Price vs fair value
n/a
Price vs buy-below price
n/a
Read between the lines
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Guidance
Export pricing for EDC and caustic soda trended lower during the quarter, which will offset stronger domestic caustic pricing in the third quarter.
Source quote
“These export price trends will offset stronger domestic caustic pricing in the third quarter. As supply chains rebalanced during the quarter, export pricing for both EDC and caustic soda trended lower but remained above pre conflict levels. We expect product availability to tighten in the fourth quarter driven by persistently higher feedstock and energy costs as well as several planned industry shutdowns.”
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Guidance
The company expects sequential earnings improvement for the next period based on the updated guidance.
Source quote
“And we expect that to drive sequential earnings improvement.”
-
Fading
The epoxy business returned to profitability in the first quarter, providing a foundation for the current reporting period's earnings.
Source quote
“During the first quarter, our epoxy business returned to profitability, and we saw early signs of demand growth for Winchester... That discipline translated into positive results in the first quarter and sets the stage for stronger earnings in the coming months. The Iran conflict introduced significant disruption across global petrochemical supply chains.”
Tone
How upbeat the language was, compared with other companiesiTone counts positive minus negative finance words, adjusted for length. Executives mostly speak positively, so the labels compare each call with every company's latest call: “typical” is the middle third, “very upbeat” the top tenth, “cautious” the bottom tenth.. Dot: Q2 2026. Ring: Q1 2026.
Script and answers carried a similar tone, so the script's message held up under questioning.
Sentences that drove the tone
“Against the backdrop of weak demand, and volatile global events, Olin's self help efforts remain top of mind.”
“As the Frank conflict unfolded, our epoxy team implemented price increases to offset rising raw material and transportation costs.”
“Epoxy also achieved higher pricing across all products during the second quarter as hydrocarbon feedstock costs rose and availability tightened.”
Full figures
USD · SEC EDGAR XBRL (10-Q, period end 2026-06-30)
| Metric | Q2 2026period end 2026-06-30 | Q1 2026period end 2026-03-31 | Change | Q2 2025 | YoY |
|---|---|---|---|---|---|
| Revenue | 1.74B | 1.58B | +10.0% | 1.76B | −0.9% |
| Gross profit | 170.2M | 75.8M | +124.5% | 138.1M | +23.2% |
| Operating income | 46.5M | -78.3M | Turned profit | 35.3M | +31.7% |
| Net income | -13.3M | -83.0M | Loss narrowed | -2.8M | Loss widened |
| EPS | -0.12 | -0.73 | Loss narrowed | -0.01 | Loss widened |
| P/E | 12-mo loss | 12-mo loss | — | 12-mo loss | — |
Topics
Most discussed now
- New For folks especially producing outside of The US.
- Winchester continues to increase prices to offset rising raw material costs.
- During the second quarter, US epoxy resin demand experienced moderate seasonal improvement while European demand remained flat.
- During the third quarter, several planned chlorine customer shutdowns will reduce volumes, but chlorine pricing remains stable.
- New Olin has also just kicked off here in the third quarter its Beyond250 efforts where it is bringing in some...
Faded since Q1 2026
- Dropped Factoring in these refunds, Olin expects 2026 to essentially be a cash-free tax year, plus or minus $20 million.
- Fading Amid a very dynamic operating environment in the first quarter, the Olin Corporation team executed with discipline, maintaining focus on...
- Fading Olin is proactively managing its capital spending, targeting approximately $200 million, with a focus on funding sustaining capital…
- Fading Olin Corporation's value-first commercial approach has preserved Olin's ECU values through an extended trough and provides an attractive…
Latest announcements
Official filings, newest first.
- Shareholder vote results; Regulation FD disclosure · SEC 8-K
- Other events · SEC 8-K
- Regulation FD disclosure · SEC 8-K
- Results of operations · SEC 8-K
- Material agreement; Other events · SEC 8-K
- Regulation FD disclosure · SEC 8-K
- Results of operations · SEC 8-K
- Director or officer change; Articles or bylaws amended; Shareholder vote results; Regulation FD disclosure · SEC 8-K