The easy days are long over for companies that represent leveraged plays on economic growth. There may still be a feeling of general malaise and disappointment in the economic recovery, but the numbers are what they are and economic activity is strongly up off the bottoms. That represents a problem for Olin Corp (NYSE:OLN), as this chemical manufacturer has enjoyed a solid recovery from the depths of the recession, but now has to find a way to maintain the momentum.
A Mixed Fourth Quarter
All in all, Olin's performance for the fourth quarter was fairly mixed. Revenue rose about 16% as the company offset lower volume in chloralkali and caustic potash with higher netbacks. The company's operating rate was a disappointing 70%, though, and well below industry averages for the quarter.
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