earnings
confidence high
sentiment positive
materiality 0.75
Element Solutions Q3 net sales up 29% to $616M; raises FY adjusted EBITDA guidance to $515-525M
Element Solutions Inc
2021-Q3 EPS reported
$0.80
revenue$1,752,900,000
- Net sales $616M (+29% YoY); organic sales +13% (Electronics +11%, Industrial +15%).
- GAAP diluted EPS $0.15 (unchanged); adjusted EPS $0.35 vs $0.22; adjusted EBITDA $132M (+25% constant currency).
- Completed Coventya acquisition Sept 1 for $486M net of cash, funded with $400M add-on debt.
- Raised FY2021 guidance: adjusted EBITDA $515-525M, adjusted EPS >$1.35, free cash flow at least $265M.
- Net debt to adjusted EBITDA 3.1x; pro forma post-Coventya below 3.0x.