Element Solutions Posts 50c Adjusted EPS for Third Quarter
ESI sits 59% above its 52-week low of $22.86.
Summary
Element Solutions reported third-quarter adjusted EPS of 50 cents, up from 47 cents in Q2, on net income of $65.7M and sales of $995.3M. That extends the earnings momentum from a record second quarter, when net sales hit $978M and adjusted EBITDA reached $184M and management raised full-year guidance. The print lands after the August mutual termination of the $14.5 billion Solstice Advanced Materials merger, so the standalone operating trend now carries the story. Margins and any guidance update are not yet in hand, and those will determine whether the quarter actually beats expectations.
At the time of this announcement, ESI was trading at $36.34 on NYSE in the Manufacturing sector, with a market capitalization of approximately $8.9B. The 52-week trading range was $22.86 to $49.25. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.