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Olin Corp. Shades 1Q Profit Forecast Higher

The Associated Press

CLAYTON, Mo. (AP) — Chemical maker Olin Corp. narrowed its first-quarter guidance range Tuesday, saying strong results from the Winchester ammunition business will lead to a greater profit.

The company expects to earn between 60 cents to 65 cents per share in the first quarter. In late January, Olin forecast a profit of 50 cents to 65 cents per share. Analysts are forecasting 54 cents per share, according to Thomson Reuters.

Olin anticipates a record quarterly profit for Winchester and a $3.7 million gain from selling some land. Results from its Chlor alkali business are expected to remain weak.

In aftermarket trading, Olin shares rose 45 cents, or 3.7 percent, to $12.61. The stock finished at $12.06 during the regular session, up 57 cents, or 5 percent.