Element Solutions ( (ESI) ) has realeased its Q3 earnings. Here is a breakdown of the information Element Solutions presented to its investors.
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Element Solutions Inc, a global specialty chemicals company, provides innovative solutions across industries such as electronics, automotive systems, and industrial surface finishing.
In its recent earnings report, Element Solutions delivered strong financial results for the third quarter of 2024, showcasing significant growth compared to the previous year. The company reported net sales of $645 million, marking an 8% increase from the same period last year, with a notable improvement in net income from a loss to $40 million.
Key performance metrics included an adjusted EBITDA of $143 million, reflecting a 6% increase from the previous year, and a free cash flow of $86 million. The Electronics segment stood out with a 14% rise in net sales, driven by advancements in high-performance computing and packaging technologies. The strategic divestiture of MacDermid Graphics Solutions is expected to enhance focus and improve growth rates and margins.
Looking ahead, Element Solutions remains optimistic, anticipating record earnings in 2025. The company has repositioned its portfolio and improved its balance sheet, aiming for an adjusted EBITDA between $535 million and $540 million for the full year 2024, along with a free cash flow forecast of $280 to $300 million.
