Olin Corporation (OLN) Guides Higher for Q1
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Olin Corporation (NYSE: OLN) now expects first quarter 2009 earnings to be in the $0.60 to $0.65 per diluted share range. On January 26, 2009, Olin provided first quarter 2009 earnings per share guidance of $0.50 to $0.65 per diluted share. (Consensus is $0.54)
Joseph D. Rupp, Chairman, President, and Chief Executive Officer commented, “Our first quarter 2009 earnings guidance reflected a lack of visibility in demand in our Chlor alkali business. We now expect to realize record ECU netbacks, but we have seen a continuation of the weak demand that we experienced late in the fourth quarter of 2008. Demand in our Winchester business has remained strong and we now expect Winchester to achieve a record level of quarterly earnings in the first quarter. First quarter 2009 earnings will also include a $3.7 million pre-tax gain associated with the sale of land.”[SM]
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