Olin Corporation (NYSE:OLN) Q1 2022 Earnings Conference Call April 29, 2022 9:00 AM ET
Company Participants
Steve Keenan – Director-Investor Relations
Scott Sutton – Chief Executive Officer
Damian Gumpel – President, Epoxy and Corporate Strategy
Patrick Schumacher – President, Chlor-Alkali Products and Vinyls
Todd Slater – Chief Financial Officer
Conference Call Participants
Hassan Ahmed – Alembic Global
Mike Sison – Wells Fargo
Aleksey Yefremov – KeyBanc Capital Markets
Kevin McCarthy – Vertical Research Partners
Arun Viswanathan – RBC Capital Markets
Steve Byrne – Bank of America
Jeff Zekauskas – J.P. Morgan
Josh Silverstein – Wolfe Research
Josh Spector – UBS
Eric Petrie – Citi
Matthew Blair – Tudor, Pickering, Holt
Angelo Castillo – Morgan Stanley
Mike Leithead – Barclays
Roger Spitz – Bank of America
Operator
Good morning and welcome to the Olin Corporation's First Quarter 2022 Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] Following today's brief opening comments, we 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, Rocco. 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 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 first 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; Damian Gumpel, President, Epoxy and Corporate Strategy; Patrick Schumacher, President, Chlor Alkali Products and Vinyls; 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.
Scott Sutton
Yes. Thanks, Steve. Olin's first quarter results met a number of expectations, but we can deliver more. That said the broad Olin global team delivered remarkable accomplishments and demonstrating that we have control over improving our value delivery in 2022 versus 2021, in the face of major CAPV power asset challenges and now including a multi-month complete Plaquemine site shutdown and an Epoxy market in which Olin absorbed and continues to absorb the demand shortfall. Both CAPV and Winchester delivered the highest quarterly EBITDA in our history. We were also pleased to announce our blue water joint venture with Mitsui & Company to substantially grow our participation in global liquidity and better service global demand. Complementing our leading position, Mitsui will bring to the joint venture both existing business and a tremendous global capability to drive long-term growth.