Olin Corp. Increases Share Repurchase Authorization to $2B

By Tamara Parker • Thursday, December 12 15:24 • Permanent Link

In a press release today, Olin Corporation (NYSE: OLN) announced an increase in its share repurchase authorization to $2.0 billion. The company's board of directors has authorized a new share repurchase program, emphasizing their continued confidence in Olin’s earnings potential and cash flow generation.

As of September 30, 2024, Olin had approximately $0.7 billion remaining in authorization under its existing stock repurchase plan approved in July 2022. The new $1.3 billion share repurchase program, known as the "2024 share repurchase program," allows for the periodic repurchase of the company's common stock, including in the open market or through privately negotiated transactions. The program has no time limit and does not obligate the company to acquire any particular amount of shares of the company's common stock.

Olin Corporation, a leading vertically integrated global manufacturer and distributor of chemical products and a leading U.S. manufacturer of ammunition, is set to host an investor day in New York City today. The event will feature updates on Olin’s core businesses, long-term value creation strategy, and financial targets. The company's president and CEO, Ken Lane, expressed excitement about providing the investment community with an update on their core businesses and go-forward strategy.

The company's executive leadership team will deliver formal presentations and participate in a Q&A session during the investor day event. Olin Corporation's focus on optimizing and growing the core through self-help initiatives and low-capital growth projects, as well as its commitment to delivering essential materials to customers and higher returns to shareholders, will likely be key topics of discussion during the event.

Investors can access a live webcast of the presentation and presentation materials at the company's website. A replay of the 2024 investor day will also be available within 24 hours of the event’s conclusion.

As Olin Corporation continues to prioritize its core businesses and value creation strategy, the increase in share repurchase authorization reflects the company's confidence in its future earnings potential and commitment to delivering value to its shareholders. Following these announcements, the company's shares moved 0.6%, and are now trading at a price of $38.36. For more information, read the company's full 8-K submission here.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.