Element Solutions Inc. - ESI STOCK NEWS

Element Solutions Inc (NYSE: ESI) has declared a quarterly cash dividend of $0.06 per share, scheduled for payment on September 15, 2021. Stockholders of record as of the close of business on September 1, 2021 will be eligible for this dividend. Element Solutions specializes in specialty chemicals, offering solutions that enhance manufacturing processes in various industries such as consumer electronics, automotive systems, and offshore energy. The company aims to maintain future dividend payments, although actual results may vary due to unforeseen factors.

Element Solutions reported impressive financial results for Q2 2021, with net sales hitting $587 million, a 52% increase year-over-year. Adjusted EPS rose to $0.35, compared to $0.18 in Q2 2020. The company announced two strategic acquisitions and expects strong demand across its markets. Adjusted EBITDA guidance for 2021 was raised to $505-$520 million. Notably, the adjusted EBITDA for Q2 2021 reached $133 million, reflecting a 57% increase. Element anticipates continued growth despite logistical challenges and raw material inflation.

Element Solutions announced its plan to release 2021 second quarter financial results after market close on July 28, 2021. A conference call will be held at 8:30 a.m. ET on July 29, featuring Executive Chairman Martin E. Franklin, CEO Benjamin Gliklich, and CFO Carey J. Dorman. Investors can join the call by dialing 877-876-9177 (domestic) or 785-424-1672 (international) with Conference ID: ESIQ221. The call will also be available via webcast on the company’s website.

Element Solutions Inc (NYSE:ESI) announced an agreement for a $400 million add-on to its existing senior secured term loan B due 2026, pending the completion of the Coventya Acquisition. The funds will finance part of the €420 million for the acquisition and associated costs. Both Moody’s and S&P affirmed the company’s credit ratings, indicating strong market support. The add-on will share the same interest rate as the existing loan, with the company exploring options for lower rates using derivatives.

Element Solutions Inc (NYSE:ESI) has made a binding offer to acquire Coventya Holding SAS for approximately €420 million, including debt assumptions. Expected to close in late Q3 or Q4 2021, this acquisition aims to enhance Element's Industrial & Specialty segment. Coventya is projected to generate annual sales of €160 million and adjusted EBITDA exceeding €30 million in 2021. The transaction is anticipated to add $0.07 to annualized adjusted EPS, achieving roughly 5% accretion, with expected annual synergies of at least €13 million within two years.

Element Solutions Inc (NYSE: ESI) announced its 2021 Annual Meeting will be virtual-only on June 8, 2021, at 11:00 a.m. (ET) due to COVID-19 concerns. Stockholders of record as of April 12, 2021, can attend and vote by visiting www.virtualshareholdermeeting.com/ESI2021. Previous proxy materials can still be used for voting. A list of stockholders will be accessible during the meeting online, and alternative arrangements can be made by emailing IR@elementsolutionsinc.com.

Element Solutions Inc (NYSE: ESI) has declared a quarterly cash dividend of $0.06 per share for its common stock. This dividend will be paid on June 15, 2021, to stockholders on record as of the close of business on June 1, 2021. With its broad range of specialty chemical solutions, the company continues to support key industries, including consumer electronics and automotive systems, signifying its strong market position.

Element Solutions Inc (NYSE:ESI) has acquired H.K. Wentworth Limited (HKW) for approximately $60 million, funded from cash reserves. HKW, a UK-based manufacturer, specializes in electro-chemicals for various sectors including electronics and automotive, generating about $44 million in sales in 2020. The acquisition aims to enhance Element Solutions' electronics portfolio through HKW's Electrolube product line, which includes conformal coatings and thermal interface materials, crucial for modern electronic applications. The deal is expected to drive significant business growth in the near term.

Element Solutions Inc (NYSE: ESI) announced that CEO Benjamin Gliklich will participate in a virtual fireside chat at the Goldman Sachs Industrials & Materials Conference on May 12, 2021, at 1:50 p.m. ET. Interested investors can access the live webcast through the Investors section of www.elementsolutionsinc.com.

Element Solutions is a specialty chemicals company providing innovative solutions for key industries, including consumer electronics and automotive systems.