Element Solutions Inc Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 25, 2023 at 04:15 pm EDT
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Element Solutions Inc reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 599.3 million compared to USD 618.5 million a year ago. Net loss was USD 31.8 million compared to net income of USD 53.2 million a year ago. Basic loss per share from continuing operations was USD 0.13 compared to basic earnings per share from continuing operations of USD 0.22 a year ago. Diluted loss per share from continuing operations was USD 0.13 compared to diluted earnings per share from continuing operations of USD 0.22 a year ago. Basic loss per share was USD 0.13 compared to basic earnings per share of USD 0.22 a year ago. Diluted loss per share was USD 0.13 compared to diluted earnings per share of USD 0.22 a year ago.
For the nine months, sales was USD 1,759.8 million compared to USD 1,975.6 million a year ago. Net income was USD 41 million compared to USD 174.5 million a year ago. Basic earnings per share from continuing operations was USD 0.16 compared to USD 0.7 a year ago. Diluted earnings per share from continuing operations was USD 0.16 compared to USD 0.7 a year ago. Basic earnings per share was USD 0.17 compared to USD 0.71 a year ago. Diluted earnings per share was USD 0.17 compared to USD 0.71 a year ago.
Element Solutions Inc is a global and diversified specialty chemicals company whose businesses supply a broad range of solutions. The Companyâs segments include Electronics and Industrial & Specialty. The Electronics segment research, formulates and sells specialty chemicals and process technologies for all types of electronics hardware, from complex printed circuit board designs to advanced semiconductor packaging. The Industrial & Specialty segment research, formulates and sells specialty chemicals and process technologies that enhance surfaces or improve industrial processes in diverse industrial sectors from automotive trim to transcontinental infrastructure and from high-speed printing to high-design faucets. Its solutions enable customers manufacturing processes in several key industries, including consumer electronics, power electronics, semiconductor fabrication, communications and data storage infrastructure, automotive systems, industrial surface finishing, and others.