Epoxy business is down!

On July 28, Olin announced its financial results for the second quarter ended June 30, 2022: sales in the second quarter of 2022 were $2,611 million, an increase of 18% from $2,223 million in the same period last year; Quarterly reported net income was $421 million, an increase of 16% from $358 million in the same period last year, with the increase in performance mainly coming from chlor-alkali products and vinyl produc.

"Our second quarter Adjusted EBITDA results continue to demonstrate how our model can adapt in real time to emphasize 'value first' rather than maximizing volume," said Chairman, President and Chief Executive Officer Scott Sutt.

“As the recessionary economic environment continues to unfold in the third quarter of 2022, coupled with sequential increases in raw material and operating costs, primarily increasing gas and electricity cos.

Epoxy resin business overview in the second quarter

Epoxy resin sales were $777 million in the second quarter of 2022, compared to $850 million in the second quarter of 202 The decline in epoxy resin sales was primarily due to lower volumes, partially offset by higher prici.

Olin Senior Management Holds Conference Call on July 29

Discuss financial results for the second quarter of 2022

Regarding the decline of Olin's epoxy resin business in the second quarter, Scott Sutton said: Olin's epoxy resin sales in the second quarter fell compared to the first quart.

Olin used to export a large volume of epoxy resin to Chi.

Olin is operating the epoxy business at nearly 50% operating rate, and given the severe energy situation in Europe, Olin expects Germany to cut the operating rate of epoxy resin and related upstream again by the end of the third quart.