Olin Corporation

Good morning and welcome to Olin Corporation's fourth quarter 2023 earnings conference call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. Following today's brief opening comments, there will be an opportunity to ask questions. To ask a question, you may press star then one on your touch-tone phone. To withdraw your question, please press star then 2. Please note this event is being recorded. I would now like to turn the conference over to Steve Keenan, Olin's Director of Investor Relations. Please go ahead.

Thank you Andrea. Good morning everyone and thank you for joining us today. Before we begin, let me remind you that this discussion along with the associated slides and the question and answer session that follows, will include statements regarding estimates or expectations of future performance. Please note that these are forward-looking statements and that actual results could differ materially from those projected. Some of the factors that could cause actual results to differ from our projections are described without limitations in the risk factors section of our most recent Form 10-K and in yesterday's fourth quarter earnings press release. A copy of today's transcript and slides will be available on our website in the Investors section under Past Events. Our earnings press release and other financial data and information are available under Press Releases. With me this morning are Scott Sutton, Olin CEO, and Todd Slater, Olin CFO. I'll now turn the call over to Scott Sutton to make some brief remarks, after which we'll be happy to take your questions.

Thanks, Steve, and good morning to all. In the fourth quarter, the Olin team delivered the four items that were promised, which were $210 million of adjusted EBITDA, overcoming a negative $100 million EBITDA impact from our purposeful value accelerator initiative, stopping the decline of ECU values as a result of our value accelerator initiative, completing the remaining purchase of 10% of our outstanding equity in 2023, and setting the company up for a 2024 that is better than 2023. We start that setup by making the first quarter of the new year better than the fourth quarter of the past year. We are also very pleased that outside of the minor purchase price for the white flyer acquisition, Olin's net debt at the end of 2023 was essentially the same as the net debt at the beginning of 2023. Since this could well be my last Olin earnings call, I wanted to remind everyone that Olin has a very unique value creation equation of lifting people to a higher level of fulfillment, delivering value on a contemporary basis through a novel idea pipeline, and practicing absolute leadership in commerce. This unique value equation opens a long runway to a very positive future, and our leadership team will take Olin there. The earnings and cash flow power of Olin is huge. So, Andrea, that concludes my opening remarks.