Element Solutions Inc
For the period ended Sep 30, 2024. Filed Oct 29, 2024.
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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.
Sep 30, 2024 · Filed Oct 29, 2024
ESI$32.96+5.1%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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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 · Nine Months Ended | ||||
|---|---|---|---|---|
| September 30, | September 30, | |||
| (dollars in millions) | 2024 | 2023 | 2024 | 2023 |
| Net sales: | ||||
| Electronics | ||||
| Assembly Solutions | $215.5 | $191.2 | $581.1 | $548.7 |
| Circuitry Solutions | 119.8 | 109.1 | 353.3 | 318.8 |
| Semiconductor Solutions | 83.8 | 66.7 | 225.6 | 194.9 |
| Total Electronics | 419.1 | 367.0 | 1,160.0 | 1,062.4 |
| Industrial & Specialty | ||||
| Industrial Solutions | 168.2 | 177.7 | 499.7 | 534.2 |
| Graphics Solutions | 37.3 | 35.9 | 111.1 | 107.5 |
| Energy Solutions | 20.4 | 18.7 | 61.9 | 55.7 |
| Total Industrial & Specialty | 225.9 | 232.3 | 672.7 | 697.4 |
| Total net sales | $645.0 | $599.3 | $1,832.7 | $1,759.8 |
| Adjusted EBITDA: | ||||
| Electronics | $98.6 | $90.4 | $274.7 | $239.4 |
| Industrial & Specialty | 44.1 | 43.7 | 130.1 | 123.1 |
| Total Adjusted EBITDA | $142.7 | $134.1 | $404.8 | $362.5 |
The following table reconciles "Net income (loss)" to Adjusted EBITDA:
| Three Months Ended · Nine Months Ended | ||||
|---|---|---|---|---|
| September 30, | September 30, | |||
| (dollars in millions) | 2024 | 2023 | 2024 | 2023 |
| Net income (loss) | $40.4 | $(31.7) | $189.7 | $41.0 |
| Add (subtract): | ||||
| Income from discontinued operations, net of tax | — | — | (1.6) | (2.9) |
| Income tax expense | 36.8 | 15.3 | 32.8 | 53.4 |
| Interest expense, net | 14.2 | 13.3 | 42.4 | 37.0 |
| Depreciation expense | 10.0 | 11.8 | 30.4 | 31.4 |
| Amortization expense | 29.4 | 32.7 | 89.4 | 93.3 |
| EBITDA | 130.8 | 41.4 | 383.1 | 253.2 |
| Adjustments to reconcile to Adjusted EBITDA: | ||||
| Restructuring (income) expense | (0.1) | 2.1 | 5.7 | 6.3 |
| Acquisition, divestiture and integration expense | 6.3 | 5.0 | 11.3 | 13.3 |
| Foreign exchange (gains) losses on intercompany loans | (13.5) | 6.5 | (24.2) | (7.6) |
| Debt refinancing costs | 0.4 | — | 0.4 | — |
| Goodwill impairment | — | 80.0 | — | 80.0 |
| Kuprion Acquisition research and development charge | — | — | 3.9 | 15.7 |
| Other, net | 18.8 | (0.9) | 24.6 | 1.6 |
| Adjusted EBITDA | $142.7 | $134.1 | $404.8 | $362.5 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.