Olin

Olin makes chemicals used in products like bleach and building materials. It also produces ammunition for hunters, law enforcement, and the military. These products help people build infrastructure and stay safe.

What Does Olin Make?

• Chlor Alkali Products: Chlorine and caustic soda used for water treatment and manufacturing plastics; accounts for 48% of sales.
• Epoxy: Specialized resins used in protective coatings, wind turbine blades, and electronics; represents 22% of sales.
• Winchester: Small-caliber ammunition and industrial cartridges for commercial and government users; makes up 30% of sales.

Recent Growth and Strategy

• Acquired the small-caliber ammunition manufacturing assets of AMMO, Inc. on April 18, 2025.
• Partnered with Plug Power, Inc. to form Hidrogenii, LLC, a venture that began hydrogen operations in the second quarter of 2025.
• Ended the Blue Water Alliance partnership with Mitsui & Co., Ltd. at the end of 2025 to pursue independent opportunities.
• Launched a $1.3 billion share repurchase program authorized in December 2024 to return capital to shareholders.

Efficiency and Control

Olin maintains a vertically integrated structure by controlling both the raw materials and the final chemical products. This setup helps the company manage costs and supply chains across its manufacturing network.

Performance by the Numbers

• Net loss hit $83 million in Q1 2026, worsening from a $1.4 million profit in Q1 2025.
• Total sales reached $1.58 billion in Q1 2026, down 4% from the same period in 2025.
• Winchester segment sales rose to $470.5 million in Q1 2026, up 21% from Q1 2025.
• Free cash flow hit negative $92.3 million in Q1 2026, improved from negative $147.4 million in Q1 2025.

Bottom Line

Olin has evolved into a focused manufacturer of essential industrial chemicals and ammunition. The company balances its leading ammunition brand with a large-scale chemical business that serves global industrial markets.