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Get filing alertsOlin reports Q2 loss of $13.3M on VCM plant shutdown; guides Q3 EBITDA to $160M-$200M
Filed July 30, 2026 · Period ending July 30, 2026 · ~1 min read
Key Changes
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high
Q2 net loss widened to $13.3M ($0.12/share) from $1.3M ($0.01/share) a year earlier; adjusted EBITDA rose to $191.3M from $176.1M despite unplanned VCM plant shutdown that cut EBITDA by $40M in Q2 and will reduce Q3 by another $20M.
Exhibit 99.1 view on EDGAR → -
high
Q3 adjusted EBITDA guided to $160M-$200M (midpoint $180M), down sequentially from Q2's $191.3M, reflecting lingering VCM plant impact and weaker ethylene dichloride pricing partially offset by stronger caustic soda volumes.
Exhibit 99.1 view on EDGAR → -
medium
Net debt rose to $2.85B with leverage at 5.0x adjusted EBITDA (up from 4.1x at year-end 2025); company paid $93M to resolve legacy Shintech litigation in H1 with another $100M due in H2 2026.
Exhibit 99.1 view on EDGAR → -
medium
Olin incurred $10.6M in merger-related costs in Q2 for pending all-stock merger of equals with Huntsman Corporation, expected to close in first half 2027 subject to shareholder and regulatory approvals.
Exhibit 99.1 view on EDGAR →
Summary
Olin reported a Q2 2026 net loss of $13.3 million ($0.12 per share), wider than the prior-year quarter's $1.3 million loss, though adjusted EBITDA improved to $191.3 million from $176.1 million. The quarter was materially impacted by an unplanned shutdown at the company's vinyl chloride monomer plant in Freeport, Texas, which reduced adjusted EBITDA by $40 million.
Operations have resumed at reduced rates, with an additional $20 million impact expected in Q3 before full production resumes late in the quarter—a combined $60 million headwind across two quarters. Management guided Q3 adjusted EBITDA to $160 million-$200 million, implying a sequential decline at the midpoint driven by the lingering VCM impact and weaker ethylene dichloride pricing.
Leverage rose to 5.0 times net debt to adjusted EBITDA from 4.1 times at year-end 2025, driven by $2.85 billion in net debt and working capital increases that included $93 million paid to resolve legacy Shintech litigation (with another $100 million due in the second half). The company also incurred $10.6 million in costs related to its pending merger of equals with Huntsman, expected to close in the first half of 2027. Investors should monitor the VCM plant's return to full rates and whether Q3 results land in the guided range, as well as the trajectory of leverage ahead of the Huntsman combination.
Section-by-Section Diff
Event · Item 2.02 — Results of Operations and Financial Condition
Olin announced Q2 2026 financial results via press release.
Added in current filing · verify on EDGAR →
On July 30, 2026, Olin Corporation (“Olin”) issued a press release announcing financial results for the second quarter ended June 30, 2026.
Olin disclosed its second quarter 2026 financial results through a press release. The 8-K body does not provide specific financial figures; those details are contained in the attached Exhibit 99.1 press release, which is not included in the provided text.
Event · Exhibit 99.1
Added in current filing · view on EDGAR →
Second quarter 2026 reported net loss was ($13.3) million, or ($0.12) per diluted share, which compares to second quarter 2025 reported net loss of ($1.3) million, or ($0.01) per diluted share. Second quarter 2026 adjusted EBITDA of $191.3 million excludes depreciation and amortization expense of $122.1 million, acquisition-related costs of $10.6 million, and restructuring charges of $10.5 million. Second quarter 2025 adjusted EBITDA was $176.1 million. Sales in the second quarter 2026 were $1,741.9 million, compared to $1,758.3 million in the second quarter 2025.
Olin reported a Q2 2026 net loss of $13.3 million ($0.12 per share), wider than the prior-year Q2 2025 loss of $1.3 million ($0.01 per share). Adjusted EBITDA improved to $191.3 million from $176.1 million a year earlier, while sales declined slightly to $1,741.9 million from $1,758.3 million. The adjusted EBITDA figure excludes $122.1 million in depreciation/amortization, $10.6 million in merger-related costs, and $10.5 million in restructuring charges.
Added in current filing · view on EDGAR →
However, partially offsetting this performance was an unplanned shutdown of the vinyl chloride monomer plant in Freeport, Texas. Operations have resumed at reduced rates. The disruption reduced second quarter adjusted EBITDA by $40 million, with an estimated $20 million impact expected in the third quarter as full rates are planned to resume late in the quarter.
An unplanned shutdown at Olin's vinyl chloride monomer (VCM) plant in Freeport, Texas reduced Q2 adjusted EBITDA by $40 million. Operations have resumed at reduced rates, with an additional $20 million impact expected in Q3 before full rates resume late in the quarter. This $60 million total impact is material to near-term earnings.
Added in current filing · view on EDGAR →
Olin ended the second quarter 2026 with net debt of approximately $2.85 billion and a net debt to adjusted EBITDA ratio of 5.0 times. On June 30, 2026, Olin had available liquidity of approximately $1.2 billion, including unrestricted access to the undrawn portion of its revolving credit facility. Working capital increased $183.0 million in the first half 2026. In addition to the normal seasonal working capital built in first half of the year, which we expect to liquidate during the second half, Olin paid approximately $93 million, including previously accrued reserves, to resolve legacy Shintech litigation matters and expect to pay the remaining approximately $100 million in the second half of 2026.
Olin's net debt rose to $2.85 billion at quarter-end, with a net debt to adjusted EBITDA ratio of 5.0 times, up from 4.1 times at year-end 2025. Available liquidity stood at $1.2 billion. Working capital increased $183 million in the first half, partly due to $93 million paid to resolve legacy Shintech litigation, with another $100 million payment expected in the second half of 2026.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 31, 2026 · How we verify