Element Solutions Q1 sales $574M (-16% reported); adj EBITDA $112M; FY guidance lowered

Element Solutions Inc

2023-Q1 EPS reported $0.18 revenue$574,400,000

GAAP diluted EPS $0.18 vs $0.23; Adjusted EPS $0.30 vs $0.38.
Electronics net sales -23% reported (-11% organic); Industrial & Specialty +2% organic.
Adjusted EBITDA $112M, down 18% on constant currency basis.
Q2 adj EBITDA guided ~$120M; FY adjusted EBITDA now expected at low end of $510-530M range.
Free cash flow $45M in Q1; FY free cash flow guided ~$275M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Element Solutions Inc reported the three months ended March 31, 2023 results: revenue $574 million, net income $43 million, EPS $0.18. Guidance lowered.

Period: the three months ended March 31, 2023
Revenue: $574 million
Net income: $43 million
EPS: $0.18
Guidance: lowered
Result: reported results

Exact text from the filing

Element Solutions Inc Announces 2023 First Quarter Financial Results • Net sales of $574 million, a decrease of 16% from the first quarter last year on a reported basis or a decrease of 7% on an organic basis • GAAP diluted EPS of $0.18, compared to $0.23 in the same period last year • Reported net income of $43 million, as compared to $56 million in the same period last year

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Source: SEC EDGAR

accession 0001590714-23-000043

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