Element Solutions Q2 adj EBITDA $116M (-17%), cuts FY guide to $490-500M

Element Solutions Inc

2023-Q2 EPS reported $0.30 revenue$1,160,500,000

Q2 net sales $586M (-13% reported, -6% organic); GAAP EPS $0.11, adj EPS $0.31 vs $0.38.
FY23 adjusted EBITDA guidance reduced to $490-500M; Q3 adj EBITDA guided ~$125M.
Electronics sales -19% to $356M; Industrial & Specialty -2% to $230M.
Terminated ViaForm distribution rights for $200M; expects ~$15M annual adj EBITDA from in-house ops.
Acquired Kuprion for ~$15.9M to add nano-copper technology for semiconductor and circuit board markets.

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 0.95

Element Solutions Inc reported three and six months ended June 30, 2023 results: revenue $586 million, net income $27 million, EPS $0.11.

Period: three and six months ended June 30, 2023
Revenue: $586 million
Net income: $27 million
EPS: $0.11
Result: reported results

Exact text from the filing

(EX-99.1 2023.6.30 EARNINGS RELEASE) --- 2023.6.30 EARNINGS RELEASE Document EXHIBIT 99.1 Element Solutions Inc Announces 2023 Second Quarter Financial Results • Net sales of $586 million, a decrease of 13% from the second quarter last year on a reported basis or a decrease of 6% on an organic basis • GAAP diluted EPS of $0.11, compared to $0.25 in the same period

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Source: SEC EDGAR

accession 0001590714-23-000071

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