Olin Corporation’s Winchester segment sales for the first quarter 2024, were $409.4 million, compared to $366.5 million in the first quarter 2023.
The increase in Winchester sales was primarily due to higher commercial ammunition shipments, higher domestic and international military sales and White Flyer sales.
Olin Corporation completed the acquisition of the White Flyer business in the fourth quarter of 2023 and now included in the company’s Winchester (ammunition) segment of business.
White Flyer designs, manufactures and sells recreational trap, skeet, international, and sporting clay targets.
First quarter 2024 segment earnings were $72.2 million, compared to $61.0 million in the first quarter of 2023. The $11.2 million increase in segment earnings was primarily due to higher commercial ammunition shipments and White Flyers’ earnings, partially offset by lower commercial ammunition pricing.
Winchester’s first quarter 2024 results include depreciation and amortization expenses of $7.9 million compared to $6.2 million in the first quarter 2023.
Image courtesy Winchester
