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Markets :: Basic Chemicals :: Inorganic Chemicals :: Chlor-alkali
Olin earnings up despite weak chlor-alkali
12:40 PM MDT | April 26, 2013 | Clay Boswell
Olin (Clayton, MO) on Thursday reported first-quarter 2013 net income of $40.5 million, up 5% year-on-year (YOY). Weak results in the chlor-alkali business were more than balanced by the strong performance of Olin’s Winchester business, which manufactures ammunition. Sales for the quarter totaled $630 million, up 24% YOY, from $507.2 million. Earnings of 50 cts/diluted share, up from 48 cts in the year-ago period, beat the consensus estimate of 47 cts, mainly on the strength of the Winchester business. Winchester earnings totaled $31.3 million, up 190% YOY...
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