NYSE$ESI
Element Solutions Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Element Solutions reported relatively flat net sales but increased earnings and adjusted EBITDA for Q4 2023.
Element Solutions reported relatively flat net sales of $573 million for Q4 2023, while organic net sales decreased by 3%. However, the company saw a significant increase in reported net income to $77 million, and adjusted EBITDA increased by 11% to $120 million. The electronics segment experienced net sales growth, while the industrial & specialty segment saw a decrease.
- Net sales were relatively flat at $573 million, with a 3% decrease in organic net sales.
- GAAP diluted EPS increased to $0.32 from $0.05 in the same period last year, and adjusted EPS increased to $0.32 from $0.29.
- Reported net income increased significantly to $77 million, compared to $13 million in Q4 2022.
- Adjusted EBITDA increased by 11% to $120 million.
Headline financials
Revenue & EPS history
Element Solutions · Revenue · Quarterly
$573M
Revenue by segment
Element Solutions · $599M total across 2 segments · Q3 2023
- Electronics$367M-5.4%61.2%
- Specialties$232M+0.6%38.8%
Forward guidance
Element Solutions anticipates adjusted EBITDA to be between $510 million and $530 million and free cash flow between $280 million and $300 million for the full year 2024.
Tailwinds
- Adjusted EBITDA is expected to be between $510 million and $530 million.
- Constant currency growth of between 8% and 12% is expected.
- Gross margins have continued to expand as input pressure has eased.
- Free cash flow is expected to be in the range of $280 million to $300 million.
- First quarter 2024 adjusted EBITDA is expected to be in the range of $120 million to $125 million.
Headwinds
- The semiconductor and smartphone markets are forecast to remain below their previous peaks.
- Reversing certain variable cost actions taken in 2023 will create headwinds.
- The war between Russia and Ukraine and the Israel-Hamas conflict and other hostilities in the Middle-East may impact market conditions and the global economy.
- The continuing economic impact of the coronavirus (COVID-19) and its variants on the global economy and supply chains may have negative effects.
- Price volatility and cost environment may present challenges.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2023
+0.1%
Avg return
Earnings day
+1.7%
Avg return
5 days after
+1.3%
Avg return
30 days after
52%
26 / 50 earnings
Positive
+14.9%
Q3 2016
Best reaction
-9.9%
Q2 2015
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.5% | +10.3% | +9.4% | |
| Q4 2025 | +4.2% | +11.9% | -3.9% | |
| Q3 2025 | +0.7% | +3.4% | -1.1% | |
| Q1 2025 | +7.2% | +5.3% | +11.3% | |
| Q4 2024 | +4.4% | -0.5% | -4.4% | |
| Q3 2024 | +2.7% | +0.9% | +5.6% | |
| Q2 2024 | -3.1% | -6.6% | -2.6% | |
| Q1 2024 | -3.0% | -0.1% | -0.4% | |
| Q4 2023 | -3.6% | -2.0% | +3.2% | |
| Q3 2023 | -0.3% | -0.8% | +12.3% | |
| Q2 2023 | +3.6% | +5.4% | +1.6% | |
| Q1 2023 | +1.7% | +4.5% | +6.0% | |
| Q4 2022 | +1.1% | +2.0% | -8.8% | |
| Q3 2022 | -1.2% | -2.7% | +10.0% | |
| Q2 2022 | +2.4% | +4.9% | +1.6% | |
| Q1 2022 | +5.4% | +1.9% | +5.3% | |
| Q4 2021 | -1.4% | +4.4% | -6.2% | |
| Q3 2021 | +0.4% | +0.9% | +6.7% | |
| Q2 2021 | +0.6% | +0.9% | +0.7% | |
| Q1 2021 | +4.4% | +6.6% | +13.8% | |
| Q4 2020 | -3.4% | +5.1% | +4.0% | |
| Q3 2020 | -6.9% | -4.2% | +14.0% | |
| Q2 2020 | -2.4% | -0.6% | -4.9% | |
| Q1 2020 | +1.1% | +3.1% | +10.2% | |
| Q4 2019 | -3.0% | +0.5% | -24.8% | |
| Q3 2019 | +2.2% | +3.3% | -3.4% | |
| Q2 2019 | +1.3% | +1.3% | +0.1% | |
| Q1 2019 | +3.4% | +2.9% | -12.9% | |
| Q4 2018 | -4.6% | -2.9% | -14.7% | |
| Q3 2018 | +1.0% | +1.7% | +8.8% | |
| Q2 2018 | +0.7% | +1.8% | +9.0% | |
| Q1 2018 | +1.0% | +1.9% | +17.7% | |
| Q4 2017 | -1.2% | +2.7% | -8.9% | |
| Q3 2017 | -2.0% | -1.6% | -9.5% | |
| Q2 2017 | -7.4% | -9.3% | -16.2% | |
| Q1 2017 | -2.3% | -2.0% | -7.5% | |
| Q4 2016 | +1.3% | -0.2% | -1.5% | |
| Q3 2016 | +14.9% | +18.9% | +28.4% | |
| Q2 2016 | -2.8% | -5.5% | +1.2% | |
| Q1 2016 | +8.9% | — | — | |
| Q4 2015 | -1.3% | — | — | |
| Q3 2015 | -6.6% | — | — | |
| Q2 2015 | -9.9% | — | — | |
| Q1 2015 | -5.8% | — | — | |
| Q4 2014 | -3.5% | — | — | |
| Q3 2014 | +1.5% | — | — | |
| Q2 2014 | +4.4% | — | — | |
| Q1 2014 | +3.6% | — | — | |
| Q4 2013 | -0.4% | — | — | |
| Q3 2013 | -2.1% | — | — | |
| Q2 2013 | — | — | — | |
| Q1 2013 | — | — | — | |
| Q4 2012 | — | — | — | |
| Q3 2012 | — | — | — |
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