By Stephen Nakrosis
Shares of Olin touched a 52-week low Friday, a day after it reported fourth-quarter financial results and said it expects challenging industry conditions to continue this year.
Olin stock was down 9.6%, at $29.07, in afternoon trading. Volume was high, with over 2.5 million shares trading, above the 65-day average volume of some 1.6 million shares. Earlier in the session, shares dipped to a 52-week low of $28.96.
After the bell Thursday, Olin reported fourth-quarter earnings per share of 9 cents on sales of $1.67 billion. In the year-ago period, the company reported EPS of 43 cents on sales of $1.61 billion.
Ken Lane, the company's president and chief executive officer, said first quarter 2025 results from the company's chemicals businesses were expected to be lower than fourth quarter 2024. He also said Olin would remain focused on optimizing core businesses through a value-first commercial approach, as well as controlling costs.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
January 31, 2025 14:23 ET (19:23 GMT)
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