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Olin (OLN) & Mitsui Sign MoU to Establish a Joint Venture
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Olin Corporation (OLN - Free Report) recently announced a global strategic alliance with Mitsui & Co., Ltd. to enhance customer service. The companies have agreed on a memorandum of understanding (MoU) to set up a joint venture. Per the agreement, Mitsui will combine its excellent global logistics, deep supplier and customer relationships as well as breadth of the product portfolio with Olin's scale, North American export capability and production flexibility across the electrochemical unit (“ECU”) portfolio.
The joint venture is expected to be an independent global buyer, supplier and marketer of ECU-based derivatives. It will primarily focus on globally traded (blue water) caustic soda and ethylene dichloride with potential future expansion into other ECU derivatives and associated products.
The alliance will facilitate customers to leverage greater security of supply, improved logistics reliability, better access to global product liquidity and network optimization to support the decarbonization agenda by combining the complementary geographic and functional strengths of Olin and Mitsui. The joint venture will likely commence later this year, subject to the agreement of definitive terms and applicable regulatory approvals.
Shares of Olin have gained 34.3% in the past year compared with a 1.1% rise of the industry.
Image Source: Zacks Investment Research
Olin, in its last earnings call, stated that it expects sequentially higher raw material and operating costs, particularly increased natural gas and electrical power costs, in early 2022. It sees results fromthe Chemical businesses in first-quarter 2022 to be in line withfourth-quarter 2021 levels. The company also envisions first-quarter results in the Winchester business to rise from fourth-quarter 2021 levels.
Some better-ranked stocks in the basic materials space are The Mosaic Company (MOS - Free Report) , AdvanSix Inc. (ASIX - Free Report) and Allegheny Technologies Incorporated (ATI - Free Report) .
Mosaic has a projected earnings growth rate of 125% for the current year. The Zacks Consensus Estimate for MOS' current-year earnings has been revised 33.3% upward in the past 60 days.
Mosaic’s earnings beat the Zacks Consensus Estimate in three of the last four quarters while missing once. It delivered a trailing four-quarter earnings surprise of roughly 3.7%, on average. MOS has rallied around 112% in a year and currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
AdvanSix has a projected earnings growth rate of 64.8% for the current year. The Zacks Consensus Estimate for ASIX’s current-year earnings has been revised 58% upward in the past 60 days.
AdvanSix’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters, the average being 23.6%. ASIX has surged 84.4% in a year. The company sports a Zacks Rank #1.
Allegheny, currently carrying a Zacks Rank #2 (Buy), has an expected earnings growth rate of 661.5% for the current year. The Zacks Consensus Estimate for ATI's earnings for the current year has been revised 45.6% upward in the past 60 days.
Allegheny’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average being 127.2%. ATI has rallied around 20.2% over a year.
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Olin (OLN) & Mitsui Sign MoU to Establish a Joint Venture
Olin Corporation (OLN - Free Report) recently announced a global strategic alliance with Mitsui & Co., Ltd. to enhance customer service. The companies have agreed on a memorandum of understanding (MoU) to set up a joint venture. Per the agreement, Mitsui will combine its excellent global logistics, deep supplier and customer relationships as well as breadth of the product portfolio with Olin's scale, North American export capability and production flexibility across the electrochemical unit (“ECU”) portfolio.
The joint venture is expected to be an independent global buyer, supplier and marketer of ECU-based derivatives. It will primarily focus on globally traded (blue water) caustic soda and ethylene dichloride with potential future expansion into other ECU derivatives and associated products.
The alliance will facilitate customers to leverage greater security of supply, improved logistics reliability, better access to global product liquidity and network optimization to support the decarbonization agenda by combining the complementary geographic and functional strengths of Olin and Mitsui.
The joint venture will likely commence later this year, subject to the agreement of definitive terms and applicable regulatory approvals.
Shares of Olin have gained 34.3% in the past year compared with a 1.1% rise of the industry.
Image Source: Zacks Investment Research
Olin, in its last earnings call, stated that it expects sequentially higher raw material and operating costs, particularly increased natural gas and electrical power costs, in early 2022. It sees results fromthe Chemical businesses in first-quarter 2022 to be in line withfourth-quarter 2021 levels. The company also envisions first-quarter results in the Winchester business to rise from fourth-quarter 2021 levels.
Olin Corporation Price and Consensus
Olin Corporation price-consensus-chart | Olin Corporation Quote
Zacks Rank & Key Picks
Olin currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are The Mosaic Company (MOS - Free Report) , AdvanSix Inc. (ASIX - Free Report) and Allegheny Technologies Incorporated (ATI - Free Report) .
Mosaic has a projected earnings growth rate of 125% for the current year. The Zacks Consensus Estimate for MOS' current-year earnings has been revised 33.3% upward in the past 60 days.
Mosaic’s earnings beat the Zacks Consensus Estimate in three of the last four quarters while missing once. It delivered a trailing four-quarter earnings surprise of roughly 3.7%, on average. MOS has rallied around 112% in a year and currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
AdvanSix has a projected earnings growth rate of 64.8% for the current year. The Zacks Consensus Estimate for ASIX’s current-year earnings has been revised 58% upward in the past 60 days.
AdvanSix’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters, the average being 23.6%. ASIX has surged 84.4% in a year. The company sports a Zacks Rank #1.
Allegheny, currently carrying a Zacks Rank #2 (Buy), has an expected earnings growth rate of 661.5% for the current year. The Zacks Consensus Estimate for ATI's earnings for the current year has been revised 45.6% upward in the past 60 days.
Allegheny’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average being 127.2%. ATI has rallied around 20.2% over a year.