Olin Corporation (NYSE: OLN) reported fourth-quarter and full-year 2025 financial results on January 30, 2026. The company reported a Q4 net loss of $85.5 million with adjusted EBITDA of $67.7 million, down 65% from $193.4 million in Q4 2024.
Market Capitalization
Olin Corporation had a market capitalization of approximately $2.55-2.60 billion as of January 30, 2026.
Q4 2025 Results
Olin reported a net loss of $85.5 million for Q4 2025, compared to net income of $10.1 million in Q4 2024. Adjusted EBITDA was $67.7 million, down from $193.4 million in the prior-year quarter. The decline was driven by lower caustic and vinyls pricing, operating challenges in December, and lower-than-expected chlorine demand.
By segment: Chlor Alkali Products & Vinyls reported sales of $856 million with adjusted EBITDA of $86.4 million, compared to $954 million in sales and $180.7 million adjusted EBITDA in Q4 2024. Epoxy segment sales were $359 million with adjusted EBITDA loss of $6.6 million. Winchester segment sales were $449 million with adjusted EBITDA of $9.6 million.
Full-Year 2025 Results
For full-year 2025, Olin reported a net loss of $43.4 million, compared to net income of $105.0 million in 2024. Full-year adjusted EBITDA was $651.8 million, down from $873.9 million in 2024.
Segment full-year performance: Chlor Alkali Products & Vinyls reported sales of $3.68 billion with adjusted EBITDA of $679.7 million. Epoxy segment sales were $1.37 billion with adjusted EBITDA loss of $51.8 million. Winchester segment sales were $1.73 billion with adjusted EBITDA of $101.9 million.
Quarterly Sales Trend
3-Month Trading Volume Trend
Business and Operations Update
Olin generated $321 million of operating cash flow in Q4 2025, keeping net debt flat year-over-year at $2.66 billion. Year-end 2025 cash on hand was $167.6 million with available liquidity of $1.0 billion. The company repurchased $51 million of stock during 2025. Capital spending for 2025 totaled $226 million.
The company announced a long-term agreement with Braskem to upgrade export EDC values. Olin dissolved the Blue Water Alliance joint venture and is growing its Brazil caustic soda position.
Strategic Developments
Olin is executing its Beyond250 cost savings program, targeting over $250 million in structural cost savings by 2028. Actions include elimination of more than 300 employee and contractor positions in the second half of 2025, implementation of Stade, Germany supply agreement, closure of Guaruja, Brazil epoxy plant, and optimization of Freeport power costs.
The company achieved $44 million in Beyond250 savings in 2025 and expects $60-80 million in additional savings in 2026.
Guidance and Outlook
For Q1 2026, Olin expects adjusted EBITDA to be lower than Q4 2025 due to continued seasonally weak demand, higher sequential raw materials cost including energy, and higher turnaround costs as the VCM turnaround starts.
For full-year 2026, the company expects capital spending of approximately $200 million, depreciation and amortization of approximately $475 million, and interest expense of $180-185 million. Restructuring costs are expected to be approximately $30 million, similar to 2025 levels.
Performance Summary
Olin reported a Q4 2025 net loss of $85.5 million with adjusted EBITDA of $67.7 million. Full-year 2025 net loss was $43.4 million with adjusted EBITDA of $651.8 million. The Chlor Alkali Products & Vinyls segment faced lower pricing and operating challenges. The company is executing Beyond250 cost savings targeting over $250 million by 2028. Net debt remained flat at $2.66 billion with available liquidity of $1.0 billion.