Olin Corporation (NYSE:OLN) Q4 2022 Results Conference Call January 27, 2023 9:00 AM ET
Company Participants
Steve Keenan - Director, IR
Brett Flaugher - President, Winchester
Damian Gumpel - President, Epoxy
Patrick Schumacher - President, Chlor Alkali
Scott Sutton - CEO
Todd Slater - CFO
Conference Call Participants
Angel Castillo - Morgan Stanley
Arun Viswanathan - RBC
Eric Petrie - Citi
Frank Mitsch - Fermium Research
Hassan Ahmed - Alembic Global
Jeffrey Zekauskas - JPMorgan
Josh Spector - UBS
Kevin McCarthy - Vertical Research Partners
Matthew Blair - TPH
Mike Leithead - Barclays
Mike Sison - Wells Fargo
Roger Spitz - Bank of America
Steve Byrne - Bank of America
Vincent Anderson - Stifel
Operator
Good morning, and welcome to the Olin Corporation's Fourth Quarter 2022 Earnings Conference Call. [Operator Instructions] Please note this is being recorded. I would now like to turn the conference over to Steve Keenan, Olin's Director of Investor Relations. Please go ahead, Steve.
Steve Keenan
Thank you, Anthony. Good morning, everyone, and thank you for joining us again today. Before we begin, let me remind you that this discussion, along with the associated slides and the question-and-answer session that follows, will include statements regarding estimates or expectations of future performance.
Please note that these are forward-looking statements and that actual results could differ materially from those projected. Some of the factors that could cause actual results to differ from our projections are described without limitations in the Risk Factors section of our most recent Form 10-K and in yesterday's fourth quarter earnings press release.
A copy of today's transcript and slides will be available on our website in the Investors section under Past Events. Our earnings press release and other financial data and information are available under press releases.
With me this morning are Scott Sutton, Olin CEO; Damian Gumpel, President, Epoxy; Patrick Schumacher, President, Chlor Alkali; Brett Flaugher, President, Winchester; and Todd Slater, Olin CFO. The leadership team will make some brief remarks, after which we'll be happy to take your questions. I'll now turn the call over to Scott Sutton.
Scott Sutton
Yes. Thanks, Steve, and good morning to everyone. In 2022, Olin generated $12 per share of levered free cash flow, repurchased more than 25 million shares and reduced our net debt by $200 million.
It was a massive team effort after generating $9 per share of levered free cash flow in 2021. As we head into 2023, our markets are not healthy, yet our focus on levered free cash flow remains the same and we expect to generate approximately $7 per share of levered free cash flow in this recession year.