Element Solutions Guides FY20 Adj. EPS In Line With Estimates - Quick Facts

(RTTNews) - While reporting financial results for the fourth quarter on Wednesday, specialty chemicals company Element Solutions Inc. (ESI) initiated its adjusted earnings and organic net sales growth guidance for the full-year 2020.

For fiscal 2020, the company now projects adjusted earnings in a range of $0.93 to $0.97 per share on organic net sales growth of about 1 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $0.95 per share on net sales growth of 1.5 percent to $1.86 billion for the year. Analysts' estimates typically exclude special items.

The company noted that coronavirus has clearly impacted its business this February, but it had all of its factories open, albeit at low levels of activity, and anecdotally higher demand in other regions as supply chains seek alternative sources.

In that context, given a stronger than expected January and the unquantifiable impact of the coronavirus today, the company is holding its financial guidance at those levels and will review as and when the ultimate impact of coronavirus-related supply chain disruptions is known.