Element Solutions Slips To Loss In Q3

(RTTNews) - Element Solutions Inc (ESI) reported third quarter net loss attributable to common stockholders was $31.8 million or $0.13 per share compared to net income of $53.2 million or $0.22 per share in the third quarter of 2022.

Adjusted earnings per share of $0.36 unchanged from last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.33 per share for the third quarter. Analysts' estimates typically exclude special items.

Net sales for the third quarter of 2023 were $599.3 million, a decrease of 3% over the third quarter of 2022. Organic net sales decreased 3%. Analysts expected revenue of $606.74 million for the quarter.

The company expects full year 2023 adjusted EBITDA of approximately $485 million, adjusted earnings per share of approximately $1.30. Analysts expect annual earnings of $1.30 per share.

ESI closed Wednesday' regular trading at $17.62 down $0.73 or 3.98%. But in the after-hours trading the stock gained $0.35 or 1.99%.