Olin Corp falls on Q2 core earnings forecast cut

Olin

20/06/2023 14:21

** Shares of chemicals maker Olin Corp  OLN.N  down 4.5% at
$49.99 premarket
    ** Company cuts its Q2 adj. EBITDA forecast to be in the
range of $350 mln to $360 mln from its previous expectation of
slightly lower than Q1 levels of $710.9 mln
    ** This is due to an about $50 mln impact from extended
vinyl chloride monomer plant turnaround at Texas facility and
market conditions, says company
     ** The plant maintenance turnaround required an extension
of about seven weeks - OLN
    ** Up to last close, stock down 1.1% YTD

 (Reporting by Ankit Kumar)
 ((Ankit.Kumar2@thomsonreuters.com))