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Olin’s Epoxy Segment Witnesses Decrease in Second Quarter 2022 Results August 01 2022

2022 Lucintel Composites Market Insights, August 01, 2022

Olin Corporation released its financial results for the second quarter ended June 30, 2022. Second quarter 2022 reported net income was $422.1 million, or $2.76 per diluted share, which compares to second quarter 2021 reported net income of $355.8 million, or $2.17 per diluted share. Second quarter 2022 adjusted EBITDA of $727.3 million excludes depreciation and amortization expense of $148.8 million and restructuring charges of $3.6 million. Second quarter 2021 adjusted EBITDA was $559.2 million. Sales in the second quarter 2022 were $2,616.1 million compared to $2,221.3 million in the second quarter 2021.
Epoxy sales for the second quarter 2022 were $772.7 million compared to $850.0 million in the second quarter 2021. The decrease in Epoxy sales was primarily due to lower volumes, partially offset by higher pricing. Second quarter 2022 segment earnings were $139.9 million compared to $165.3 million in the second quarter 2021. The $25.4 million decrease in Epoxy segment earnings was primarily due to lower volumes and higher operating costs, mainly increased natural gas and electrical power costs, partially offset by higher product margins, as higher pricing was partially offset by higher benzene and propylene raw material costs. Epoxy second quarter 2022 results included depreciation and amortization expense of $20.4 million compared to $20.3 million in the second quarter 2021.

For identifying growth opportunities in Epoxy Resin in the Global Composites Market: Trends, Opportunities and Competitive Analysis, please visit https://www.lucintel.com/epoxy-resin-in-composites-industry.aspx