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Element Solutions Inc announced that it is raising its guidance range for the second quarter and full year 2024. ESI now expects adjusted EBITDA to be approximately $135 million in the second quarter and between $530 million and $545 million for the full year.
President and CEO Benjamin Gliklich said, "The strength in our electronics business and improvement in our overall profitability have continued and, in certain areas, accelerated in the second quarter. Our wafer level packaging and circuitry businesses, in particular, have ramped to support strong customer growth these past two months. While electronic markets are recovering in certain pockets, overall unit and chemistry volumes remain below long-term trend levels. Nonetheless, and despite what is a generally weaker industrial environment, we expect in 2024 to generate record adjusted EBITDA since the founding of Element Solutions in 2019. This bodes well for our earnings trajectory next year and beyond. Our conviction in ESI’s longer-term outlook continues to strengthen."
Updated 2024 Guidance
The Company has increased its full year 2024 adjusted EBITDA expectation from a range of $515 million to $530 million to an updated range of $530 million to $545 million. In addition, the Company now expects 2024 adjusted EPS to be in the range of $1.40 to $1.46.
