Element Solutions Q1 Profit Rises, Lifts FY21 Outlook

(RTTNews) - Element Solutions Inc (ESI) Wednesday reported first-quarter net income of $82.3 million or $0.33 per share, up from $8.6 million or $0.03 per share last year.

Adjusted earnings for the quarter were $0.37 per share, as compared to $0.25 per share in prior year.

Net sales for the quarter were $550.1 million, up from $452.6 million last year.

Analysts polled by Thomson Reuters expected earnings of $0.31 per share on revenues of $505.26 million. Analysts' estimates typically exclude one-time items.

Looking forward, the company now expects full year 2021 adjusted earnings of above $1.30 per share, up from prior estimate of $1.10 to $1.15 per share. Analysts currently estimate earnings of $1.17 per share.