Solstice Advanced Materials reports Q3 revenue $969M, consensus $963.63M

Reports Q3 adjusted EBITDA $235. “I am excited to report Solstice’s third quarter results, marking our first earnings announcement following our spin-off from Honeywell on October 30,” said David Sewell, President and Chief Executive Officer. “Our performance in the third quarter builds on a foundation of growth and reflects the team’s strong execution throughout the business as we prepared to transition to being an independent entity. We continue to see robust demand, especially in Refrigerants, Electronic Materials, and Safety & Defense Solutions, and were pleased to see the order backlog for Alternative Energy Services accelerate on the back of favorable domestic industry dynamics. Despite certain transitory costs that were expected, and a negative impact from Refrigerants mix during the quarter due to the ongoing regulatory transition, we continue to see healthy margins. With a strong balance sheet and a robust liquidity profile, we believe we are well-positioned to execute our strategy and unleash our full growth potential as an independent company.”