# Olin Reports Q3 Net Income of $14.4M as Epoxy Swings to Profit

> Olin Corporation (NYSE: OLN) reported its third-quarter financial results for the period ended September 30, posting a net income of $14.4 million, down 66.4% from $42.8 million in the prior-year period. Quarterly revenue edged up approximately 2% year over year to $1.7477 billion, while adjusted EBITDA slipped 13.9% to $191.4 million. The company successfully restored normal operations at its vinyl chloride monomer (VCM) production assets during the quarter.

Published: 2026-11-03T07:55:00+00:00
Language: en
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## Content

Olin's third-quarter operational landscape reflected severe plant-level headwinds and shifting regulatory incentives, offset by restructuring gains in engineered materials.

### **Divisional Performance Dynamics**

- **Chlor Alkali Products and Vinyls:** Net sales declined to **$850.8 million** from $924.0 million in Q3 2025, with pre-tax income contracting from $127.6 million to **$71.3 million**. Unplanned operational disruptions at the Freeport, Texas VCM unit created **$32.1 million** in adverse profit drag through repair costs and uncaptured sales volume. Furthermore, reduced benefits recognized under the Section 45V Clean Hydrogen Production Tax Credit of the U.S. Inflation Reduction Act reduced segment profitability by roughly **$27 million**.
- **Epoxy:** Segment revenue advanced to **$412.2 million** from $349.6 million a year earlier, driving pre-tax performance into positive territory at **$0.6 million** compared to a prior-year loss of $32.2 million. The turnaround was propelled by structural fixed-cost disciplines and increased sales volumes, notwithstanding persistent macroeconomic demand sluggishness across continental Europe.

### **Q4 Headwinds and Huntsman Transaction Horizon**

Executive guidance projects a more constrained operating environment in the fourth quarter of 2026, impacted by routine year-end destocking cycles, feedstock cost inflation, Asian import competition, and capital-intensive scheduled turnarounds.

Concurrently, Olin’s proposed merger of equals with **Huntsman Corporation** cleared primary transaction gates. Having obtained shareholder approval across both corporate investor bases and completed the statutory waiting period under U.S. antitrust regulations, the transaction remains on schedule to close in the **first quarter of 2027**, pending remaining customary regulatory clearances.

**Ken Lane (President and CEO, Olin Corporation):**

> *"During the third quarter, Olin delivered adjusted EBITDA consistent with our expectations and restored normal operations at our vinyl chloride monomer (VCM) assets. Our Chlor Alkali Products and Vinyls business maintained disciplined market participation and stable domestic Electrochemical Unit values despite continued challenging global demand.*
>
>
> *Epoxy earnings improved as structural cost reductions and volume growth offset persistent demand weakness in Europe. Winchester delivered consistent year-over-year commercial volume growth through the third quarter, while pricing actions were implemented to offset higher metals and raw material costs. We also achieved two important milestones related to our proposed merger with Huntsman. We continue to see good progress on remaining regulatory approvals and expect the transaction to close in first quarter 2027."*