Olin Turns To Profit In Q1

(RTTNews) - Olin Corp. (OLN) reported a first-quarter net income of $243.6 million or $1.51 per share, compared to net loss of $80.0 million or $0.51 per share in the prior year.

Quarterly sales rose to $1.92 billion from $1.43 billion last year.

Olin now expects to deliver adjusted EBITDA of $1.8 billion to $2.1 billion for 2021.

The company expects second quarter 2021 adjusted EBITDA to improve sequentially from first quarter 2021 levels excluding the net one-time financial benefits from Winter Storm Uri.

On April 21, 2021, Olin's Board of Directors declared a dividend of $0.20 on each share of Olin common stock. The dividend is payable on June 10, 2021, to shareholders of record at the close of business on May 10, 2021.