CLAYTON, Mo. (AP) _ Olin Corp. (OLN) on Thursday reported third-quarter net income of $44.2 million.
On a per-share basis, the Clayton, Missouri-based company said it had net income of 27 cents. Earnings, adjusted for non-recurring costs and restructuring costs, came to 41 cents per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 36 cents per share.
The chlor-alkali and ammunition producer' posted revenue of $1.58 billion in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $1.73 billion.
Olin shares have dropped nearly 9% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $18.34, a drop of 9% in the last 12 months.