Olin Corporation (NYSE:OLN) Q2 2022 Earnings Conference Call July 29, 2022 9:00 AM ET

Company Participants

Steve Keenan - Director-Investor Relations

Scott Sutton - Chief Executive Officer

Todd Slater - Chief Financial Officer

Conference Call Participants

Hassan Ahmed - Alembic Global

Jeff Zekauskas - JPMorgan

Aleksey Yefremov - KeyBanc Capital Markets

Arun Viswanathan - RBC

Mike Sison - Wells Fargo

Frank Mitsch - Fermium Research

Kevin McCarthy - Vertical Research

Steve Byrne - Bank of America

James Cameron - UBS

Matthew Blair - TPH

Eric Petrie - Citi

Mike Leithead - Barclays

Roger Spitz - Bank of America Credit

Operator

Good morning, and welcome to Olin Corporation's Second Quarter 2022 Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] Following today's brief opening comments, there will give an opportunity to ask questions. [Operator Instructions] Please note, this event 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, Andrew. Good morning, everyone, and thank you for joining us 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 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 second 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's CEO; and Todd Slater, Olin's CFO. Scott will begin with some brief remarks, after which we will be happy to take your questions.

I'll now turn the call over to Scott Sutton.

Scott Sutton

Yeah. Thanks, Steve, and good morning to everybody. The Olin team did a great job delivering the highest quarterly EBITDA in our history, and delivering the fourth quarter in a row where EBITDA was $700 million, plus or minus, even though global economic conditions declined.

We did what we said we would do. We ran our model of leadership and accelerated our reduction of Olin share count without adding debt to our investment grade balance sheet. Still many imagine us all the way down in the earnings and free cash flow gutter in the imminent recession. So I will solely focus my remarks on what Olin looks like in a recession, and then on why Olin is a good investment in any event.