(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.
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