-
- News
- Books
Featured Books
- pcb007 Magazine
Latest Issues
Current IssueAlternate Metallization Processes
Traditional electroless copper and electroless copper immersion gold have been primary PCB plating methods for decades. But alternative plating metals and processes have been introduced over the past few years as miniaturization and advanced packaging continue to develop.
Technology Roadmaps
In this issue of PCB007 Magazine, we discuss technology roadmaps and what they mean for our businesses, providing context to the all-important question: What is my company’s technology roadmap?
Wet Process Control
In this issue, we examine wet processes and how to obtain a better degree of control that allows usable data to guide our decisions and produce consistently higher-quality products.
- Articles
- Columns
Search Console
- Links
- Media kit
||| MENU - pcb007 Magazine
Element Solutions Announces Q3 2024 Financial Results
October 29, 2024 | BUSINESS WIREEstimated reading time: 1 minute
Element Solutions Inc, a global and diversified specialty chemicals company, announced its financial results for the three and nine months ended September 30, 2024.
Highlights:
- Net sales of $645 million, an increase of 8% on a reported basis or 6% on an organic basis from the third quarter of 2023
- Reported net income of $40 million, compared to a net loss of $32 million in the same period last year
- Adjusted EBITDA of $143 million, compared to $134 million in the same period last year, an increase of 6% on a reported basis and 8% on a constant currency basis
- Third quarter 2024 cash flows from operating activities of $99 million and free cash flow of $86 million
Executive Commentary
President and Chief Executive Officer Benjamin Gliklich commented, “Element Solutions delivered strong results once again this quarter. Financially, operationally and strategically, we executed well. The Electronics segment continued to capitalize on developing technology trends like advanced packaging and high-performance computing, which represent the highest value and fastest growing portions of our markets. We have invested deliberately over several years to build capabilities oriented towards these emerging opportunities, and our results reflect progress, particularly in the context of ongoing softness in several historical core markets, including Western smartphones and automotive. Our Industrial & Specialty business also grew earnings despite a weakening industrial macro backdrop over the course of the quarter, particularly in Europe. Taken together, we continue to deliver on our commitments and to outperform our markets in each of our segments. Our narrowed full year 2024 adjusted EBITDA guidance range implies record earnings despite overall end-markets remaining well below prior peak levels."
Mr. Gliklich continued, "Our actions this quarter repositioned our portfolio and improved our overall business quality and balance sheet. The previously announced sale of MacDermid Graphics Solutions will further focus our company on its core markets and should improve our underlying growth rate, margins and cash return on investment. The transaction is expected to close between year end and the end of the second quarter of 2025, pending closing conditions and regulatory approvals. Including the expected proceeds from the transaction, our net leverage ratio at year end 2024 would be approximately 2.5x leaving more capacity for strategic capital deployment than we have had in several years. Element Solutions is well-positioned for another record year in 2025.”
Suggested Items
TPCA Signs MOU to Boost Thai PCB Industry Talent Development
10/28/2024 | TPCAAt the 2024 TPCA Show, the Taiwan Printed Circuit Association (TPCA) signed a Memorandum of Understanding (MOU) with four major Thai institutions to enhance talent development in Thailand's growing PCB sector.
Plexus Announces Fiscal Q4 and Fiscal Year 2024 Financial Results
10/28/2024 | PlexusPlexus Corp. announced financial results for our fiscal fourth quarter and fiscal year ended September 28, 2024, and guidance for our fiscal first quarter 2025 ending December 28, 2024. Reports fiscal fourth quarter 2024 revenue of $1.05 billion, GAAP operating margin of 5.1% and GAAP diluted EPS of $1.48.
iNEMI End-of-Project Webinar: Investigation of AI Enhancement to AOI for PCBA
10/25/2024 | iNEMIAutomated optical inspection (AOI) systems are essential in electronic manufacturing for ensuring the quality of printed circuit board assemblies (PCBAs).
Mature Process Capacity to Grow 6% in 2025; Chinese Foundries Lead Expansion
10/25/2024 | TrendForceThe latest investigations by TrendForce reveal that Chinese foundries are set to drive the bulk of mature process capacity growth in 2025, thanks to China’s domestic IC substitution policies. It is estimated that the capacity of the world’s top 10 mature process foundries will increase by 6% in 2025, though pricing pressures will persist.
Amphenol Reports Record Third Quarter 2024 Results
10/25/2024 | BUSINESS WIREThe Company continues to deploy its financial strength in a variety of ways to increase shareholder value. During the quarter, the Company purchased 2.7 million shares of its common stock for $176 million and paid dividends of $132 million, resulting in total capital returned to shareholders of $308 million.