(RTTNews) - Olin Corp. (OLN) reported that its second-quarter net loss widened to $120.1 million or $0.76 per share from $20.0 million, or $0.12 per share last year.
Sales for the quarter were $1.24 billion, down from $1.59 million in the previous year.
Analysts polled by Thomson Reuters expected the company to report a loss of $0.49 per share and revenues of $1.24 billion. Analysts' estimates typically exclude special items.
Olin expects to benefit in 2021 from lower maintenance turnaround spending and lower capital spending compared to 2020, and the realization of the full year benefit from cost reductions completed during 2020.
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