Element Solutions Inc Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
July 26, 2023 at 04:15 pm EDT
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Element Solutions Inc reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 586.1 million compared to USD 676.9 million a year ago. Net income was USD 29.9 million compared to USD 65.2 million a year ago. Basic earnings per share from continuing operations was USD 0.11 compared to USD 0.25 a year ago. Diluted earnings per share from continuing operations was USD 0.11 compared to USD 0.25 a year ago. Basic earnings per share was USD 0.12 compared to USD 0.26 a year ago. Diluted earnings per share was USD 0.12 compared to USD 0.26 a year ago.
For the six months, sales was USD 1,160.5 million compared to USD 1,357.1 million a year ago. Net income was USD 72.8 million compared to USD 121.3 million a year ago. Basic earnings per share from continuing operations was USD 0.29 compared to USD 0.48 a year ago. Diluted earnings per share from continuing operations was USD 0.29 compared to USD 0.48 a year ago. Basic earnings per share was USD 0.3 compared to USD 0.49 a year ago. Diluted earnings per share was USD 0.3 compared to USD 0.49 a year ago.
Element Solutions Inc is a global and diversified specialty chemicals company whose businesses supply a broad range of solutions. The Companyâs segments include Electronics and Industrial & Specialty. The Electronics segment research, formulates and sells specialty chemicals and process technologies for all types of electronics hardware, from complex printed circuit board designs to advanced semiconductor packaging. The Industrial & Specialty segment research, formulates and sells specialty chemicals and process technologies that enhance surfaces or improve industrial processes in diverse industrial sectors from automotive trim to transcontinental infrastructure and from high-speed printing to high-design faucets. Its solutions enable customers manufacturing processes in several key industries, including consumer electronics, power electronics, semiconductor fabrication, communications and data storage infrastructure, automotive systems, industrial surface finishing, and others.