OLIN Corp

Starting in the fourth quarter 2023 and continuing through the majority of first quarter 2024, we successfully executed an initiative which lowered our participation in ECU markets and adjusted our operating rates to mitigate the declining pricing environment we experienced during the second half of 2023. As a result, we believe we have accelerated the positive inflection point within our Chlor Alkali Products and Vinyls segment. In the first quarter 2024, we saw positive sequential improvement in all three of our business segments. We expect this momentum to continue with second quarter 2024 results. We expect the second quarter 2024 operating results from our Chemical businesses to be higher than the first quarter 2024. We also expect our Winchester business second quarter 2024 results to be comparable with first quarter 2024 results. Overall, we expect Olin’s second quarter 2024 operating results to be higher than the first quarter 2024 levels.

Other corporate and unallocated costs in 2024 are expected to be higher than the $106.3 million in 2023.

During 2024, we anticipate environmental expenses in the $25 million to $35 million range, compared to $23.7 million in 2023.

We expect non-operating pension income in 2024 to be similar to the $24.0 million in 2023. Based on our plan assumptions and estimates, we will not be required to make any cash contributions to our domestic qualified defined benefit pension plan in 2024. We have several international qualified defined benefit pension plans for which we anticipate cash contributions of less than $5 million in 2024.

In 2024, we currently expect our capital spending to be in the $225 million to $250 million range and we expect to make payments under other long-term supply contracts of approximately $50 million for energy modernization on the U.S. Gulf Coast. We expect 2024 depreciation and amortization expense to be in the $500 million to $525 million range.

We currently believe the 2024 effective tax rate will be in the 25% to 30% range and our cash tax rate to be in the 35% to 40% range as a result of previously deferred international tax payments expected to be made in 2024.