Key Points The market is pricing the trough, not the recovery Leverage looks far less concerning through the cycle We rate shares of HUN and OLN Overweight with a revised-lower 12-month target price...
Key Points Q2’26 EBITDA beat on sequential margin expansion across all three segments Below consensus Q3’26 guidance partly driven by VCM facility outage We rate Olin shares Overweight with a 12-month target price...
Key Points Olin-Huntsman creates a diversified chemicals platform with significant deleveraging potential and recovery leverage Vertical integration unlocks over USD400m of synergies and boosts through-cycle earnings power We rate shares of HUN and...
Key Points Q1’26 marked a positive inflection across all three segments, with tightening chlor-alkali fundamentals supported by the PCC project cancellation and 6-9% of global capacity currently shut With Epoxy and Winchester...
Key Points Q1’26 EBITDA beat on sequential Epoxy and Winchester margin expansion In-line with consensus Q2’26 guidance on continued earnings momentum across all three segments We rate Olin shares Overweight with a 12-month...
Key Points 2026 earnings bridge points to above consensus numbers Natural gas deflation and largely one-off 2026 headwinds limit downside and position earnings to surprise positively as the cycle stabilizes We rate OLN...
Key Points Q4’25 EBITDA and EPS miss on higher raw material costs and unplanned operating events Below consensus Q1’26 guidance on higher raw material costs and weak CAPV demand We rate Olin shares...
Key Points Structural chlor-alkali undersupply and Epoxy/Stade benefits support gradual recovery; Winchester steadied by rising military mix Consensus 2026 estimates undemanding and not baking in any market recovery at all We rate OLN...