Element Solutions Q3 net loss $32M, sales down 3%; Graphics Solutions goodwill impaired $80M

Element Solutions Inc

2023-Q3 EPS reported $0.17 revenue$1,759,800,000

Net sales $599M, down 3% YoY (organic -3%); Electronics -6%, Industrial & Specialty +1%.
GAAP diluted loss per share $0.13 (incl. $0.33 impairment hit); Adjusted EPS $0.36 flat YoY.
Adjusted EBITDA $134M, up 2% constant currency; margin +80bps to 22.4%.
FY 2023 guidance: adj EBITDA ~$485M, adj EPS ~$1.30, free cash flow ~$265M.
Q3 operating cash flow $87M, free cash flow $75M; expects leverage below 3.5x by year-end.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Element Solutions Inc reported the three and nine months ended September 30, 2023 results: revenue $599 million, net income Reported net loss was $32 million, EPS GAAP diluted loss per share was $0.13. Guidance reaffirmed.

Period: the three and nine months ended September 30, 2023
Revenue: $599 million
Net income: Reported net loss was $32 million
EPS: GAAP diluted loss per share was $0.13
Guidance: reaffirmed
Result: reported results

Exact text from the filing

(EX-99.1 2023.9.30 EARNINGS RELEASE) --- 2023.9.30 EARNINGS RELEASE Document EXHIBIT 99.1 Element Solutions Inc Announces 2023 Third Quarter Financial Results • Net sales of $599 million, a decrease of 3% from the third quarter last year on a reported basis and organic basis • GAAP diluted loss per share of $0.13, inclusive of a $0.33 negative impact from

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Source: SEC EDGAR

accession 0001590714-23-000081

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