Q3 2024 Element Solutions Inc Earnings Call Transcript
Key Points
- Element Solutions Inc (ESI) delivered strong financial results with 6% organic sales growth and 8% constant currency adjusted EBITDA growth.
- The electronics segment grew 9% organically, driven by advanced packaging solutions and semiconductor assembly.
- The company announced the divestiture of its graphic solutions business, which is expected to be accretive to growth, margin, and return on capital.
- ESI's energy business showed robust performance with double-digit sales growth.
- The company is well-positioned for future growth with investments in new technologies and strategic capacity expansions in growth geographies.
- Smartphone sales growth did not accelerate as expected, impacting the electronics market.
- The industrial and specialty segment faced headwinds from softening demand in Europe and lower revenue from metal price surcharges.
- Automotive demand weakened, leading to softer volumes in industrial service treatment.
- The strengthening US dollar negatively impacted total company net sales and adjusted EBITDA.
- The company faces macroeconomic uncertainty, particularly in industrial end markets, which are weaker than expected.
Good morning, ladies and gentlemen, and welcome to Element Solutions Q3 2024 financial results conference call. (Operator Instructions)
Thank you. I will now turn the call over to Varun Gokarn, Vice President, Strategy Integration. Please go ahead.
Good morning and thank you for participating in our third-quarter 2024 earnings conference call. Joining me today are our President and CEO, Ben Gliklich; and CFO, Carey Dorman.
In accordance with Regulation FD, we are webcasting this conference call. A replay will be made available in the Investors section of the company's website.
During today's call, we will make certain forward-looking statements that reflect our current views about the company's future performance and financial results. These statements are based on assumptions and expectations of future events, which are subject to risks and uncertainties.
Please refer to our earnings release, supplemental slides and most recent SEC filings for a
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