Olin’s third-quarter sales grew about 2% year over year, led by epoxy and Winchester, but adjusted EBITDA of $191 million came in below $222 million in the third quarter of last year as turnaround costs continue to weigh on profitability.
Global industry rationalization will tighten supply for chlor-alkalis, allowing Olin to achieve $1.5 billion-$2.0 billion in midcycle EBITDA.
Epoxy oversupply is structural and will force Olin to exit the business and realize cash losses associated with shutdowns.
|
Metric
|
OLN
|
WLK
|
4063
|
|---|---|---|---|
Price/Earnings (Normalized) | 29.14 | 94.12 | 23.42 |
Price/Book Value | 1.20 | 1.00 | 2.41 |
Price/Sales | 0.31 | 0.76 | 4.23 |
Price/Cash Flow | 10.07 | 10.23 | 14.52 |
|
Metric
|
OLN
|
WLK
|
4063
|
|---|---|---|---|
Quick Ratio | 0.82 | 1.55 | 4.21 |
Current Ratio | 1.45 | 2.38 | 5.94 |
Interest Coverage | −0.67 | −2.04 | 239.57 |
|
Metric
|
OLN
|
WLK
|
4063
|
|---|---|---|---|
Return on Assets (Normalized) | −2.14% | 0.47% | 12.95% |
Return on Equity (Normalized) | −8.87% | 1.04% | 16.23% |
Return on Invested Capital (Normalized) | −0.48% | 0.97% | 14.06% |
|
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United States