Record Quarterly Adjusted EBITDA
Element Solutions reported its highest quarterly adjusted EBITDA since inception, reaching $147 million, exceeding initial guidance for the quarter.
Micromax Acquisition
Announced the acquisition of Micromax, expected to contribute approximately $40 million of adjusted EBITDA on a full-year basis and be more than 5% accretive to adjusted earnings per share.
Electronics Segment Growth
Electronics segment posted its sixth consecutive quarter of high single-digit organic growth, with 7% driven by strong performance in Circuitry Solutions and semi and assembly segments.
Industrial Segment Margin Improvement
Industrial segment saw meaningful margin improvement with adjusted EBITDA growth of almost 30% excluding the graphics divestiture.
Net Leverage and Financial Flexibility
Element Solutions maintains a net leverage ratio of 1.9x, with expectations to fund the Micromax transaction while keeping leverage below the 3.5x target ceiling.