earnings
confidence high
sentiment positive
materiality 0.75
Element Solutions Q3 net sales +8% to $645M; net income $40M vs loss; guides FY adj EBITDA $535-540M
Element Solutions Inc
2024-Q3 EPS reported
$0.78
revenue$1,832,700,000
- Net sales $645M (+8% reported, +6% organic); Electronics up 14% to $419M; Industrial & Specialty down 3% to $226M.
- Reported net income $40M vs $32M loss in Q3 2023; GAAP diluted EPS $0.17 vs $(0.13); adjusted EPS $0.39 vs $0.36.
- Adjusted EBITDA $143M, +6% reported (+8% constant currency); margin 22.1% down 30 bps.
- FY2024 adjusted EBITDA guidance narrowed to $535-540M, implying record earnings; free cash flow guidance $280-300M.
- Announced $325M sale of MacDermid Graphics Solutions; debt repricing reduced borrowings by $100M and lowered interest rate by 25 bps.