Markets ESI

Element Solutions Q2 Profit Rises

(RTTNews) - Element Solutions Inc. (ESI) on Monday reported an increase in profit for the second quarter, largely driven by higher revenue, reflecting strong growth across its Electronics business. Looking forward, the company raised its full-year adjusted EBITDA outlook.

For the second quarter, net income increased to $77.3 million or $0.32 per share from $47.4 million or $0.20 per share in the prior-year quarter. Adjusted earnings per share rose to $0.47 from $0.37 a year earlier.

Net sales climbed 56% to a record $977.9 million from $625.2 million last year. Organic net sales increased 15%, led by a 75% increase in Electronics revenue to $767.0 million, while Specialties revenue rose 14% to $210.9 million.

For fiscal 2026, Element Solutions now expects adjusted EBITDA in the range of $690 million to $710 million.

The specialty chemicals company also said its proposed merger with Solstice is expected to close in the first half of 2027, subject to customary conditions and regulatory approvals.

RTTNews
Founded in the late 1990s by Andrew Mariathasan in New York, with the goal of covering Wall Street for a new generation of investors, RTTNews has expanded steadily over the years to become a trusted provider of content for a wide array of subjects across several platforms. RTT's Financial Newswire is relied upon by some of the world's largest financial institutions, including banks, brokerages, trading platforms and financial exchanges.
More articles by this source

Tags

Stocks Mentioned

Latest Articles

Data is currently not available