Element Solutions Inc

For the period ended Mar 31, 2024. Filed Apr 30, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2024 · Filed Apr 30, 2024

ESI$32.96+5.1%Stored close · as of Nov 9, 2026

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Contents

Item 2. Results of Operations

The following table summarizes financial information regarding each reportable segment’s results of operations, including disaggregated external net sales by product category:

	Three Months Ended
	March 31,
(dollars in millions)	2024	2023
Net sales:
Electronics
Assembly Solutions	$167.5	$173.5
Circuitry Solutions	111.8	106.7
Semiconductor Solutions	69.9	59.4
Total Electronics	349.2	339.6
Industrial & Specialty
Industrial Solutions	166.5	180.7
Graphics Solutions	37.0	34.9
Energy Solutions	22.3	19.2
Total Industrial & Specialty	225.8	234.8
Total net sales	$575.0	$574.4
Adjusted EBITDA:
Electronics	$83.9	$72.7
Industrial & Specialty	43.1	39.6
Total Adjusted EBITDA	$127.0	$112.3

The following table reconciles "Net income" to Adjusted EBITDA:

	Three Months Ended
	March 31,
(dollars in millions)	2024	2023
Net income	$56.0	$43.0
Add (subtract):
Income tax expense	13.5	16.9
Interest expense, net	13.9	11.7
Depreciation expense	10.1	9.5
Amortization expense	30.2	29.6
EBITDA	123.7	110.7
Adjustments to reconcile to Adjusted EBITDA:
Restructuring expense	2.3	2.3
Acquisition and integration expense	1.7	3.9
Foreign exchange gains on intercompany loans	(6.8)	(5.6)
Kuprion Acquisition research and development charge	3.9	—
Other, net	2.2	1.0
Adjusted EBITDA	$127.0	$112.3

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.