Element Solutions Rises 12% As Annual Earnings Outlook Better Than View
(RTTNews) - Shares of Element Solutions Inc (ESI) are rising more than 12 percent Wednesday morning after the specialty chemicals company guided annual adjusted earnings per share above analysts' view. It also raised its full-year adjusted EBITDA outlook.
The company expects adjusted EPS for the year to be between $1.40 and $1.46, above the average estimate of analysts polled by Thomson-Reuters of $1.39 per share.
Further, full-year adjusted earnings before interest, taxes, depreciation, and amortization or adjusted EBITDA outlook has been raised to $530 million - $545 million from the previous outlook of $515 million - $530 million.
ESI, currently at $26.68, has traded in the range of $17.57 - $26.70 in the last 1 year.
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.