Fourth quarter 2023 net income of $52.9 million, or $0.43 per diluted share
Quarterly adjusted EBITDA of $210.1 million
Share repurchases of $711.3 million in 2023
Expect 2024 adjusted EBITDA to improve from 2023
Scott Sutton, Chairman, President, and Chief Executive Officer, said, "Through the challenging economic environment of 2023, Olin successfully demonstrated our unique winning model by delivering $1.3 billion of adjusted EBITDA and corresponding cash flows enabling the 2023 repurchase of approximately 10% of our outstanding shares. As we are confident in our Company's future and the strength of our earnings and cash flow, we plan to continue our capital allocation strategy, while committing to maintain an investment-grade balance sheet and achieving additional investment-grade credit ratings. We are seeing success with our 'value accelerator initiative'. We anticipate our initiative supports an improved 2024 adjusted EBITDA as compared to 2023."
Olin Announces Fourth Quarter 2023 Results
Highlights
Fourth quarter 2023 net income of $52.9 million, or $0.43 per diluted share
Quarterly adjusted EBITDA of $210.1 million
Share repurchases of $711.3 million in 2023
Expect 2024 adjusted EBITDA to improve from 2023
Scott Sutton, Chairman, President, and Chief Executive Officer, said, "Through the challenging economic environment of 2023, Olin successfully demonstrated our unique winning model by delivering $1.3 billion of adjusted EBITDA and corresponding cash flows enabling the 2023 repurchase of approximately 10% of our outstanding shares. As we are confident in our Company's future and the strength of our earnings and cash flow, we plan to continue our capital allocation strategy, while committing to maintain an investment-grade balance sheet and achieving additional investment-grade credit ratings. We are seeing success with our 'value accelerator initiative'. We anticipate our initiative supports an improved 2024 adjusted EBITDA as compared to 2023."