MIAMI – Element Solutions projects fourth quarter EBITDA to be approximately $118 million, up from previous guidance between $90 million and $95 million.

Free cash flow for 2020 is expected to grow year-over-year to greater than $240 million.

“Our electronics and automotive-oriented businesses continue to perform exceptionally well,” said Benjamin Gliklich, CEO. “This quarter, the resilient macro environment, demand from new product launches in the mobile markets, and overall strong execution have translated to healthy results through November. We are raising our fourth quarter 2020 adjusted EBITDA guidance to approximately $118 million from between $90 million and $95 million. This translates to expected adjusted EBITDA for the full year 2020 of approximately $415 million and year-over-year growth in full year adjusted earnings per share and free cash flow. The resilience in our businesses, our ability to protect margins, and capital allocation to improve earnings conversion are working to compound per share value, even in this challenging year.

“Two key factors are driving this year’s results. First is our highly variable cost model, which has long been one of the hallmarks of our business. Our team has proven its ability to operate the model deftly. We have been able to manage cost-effectively to preserve margin and sustain robust cash flows. Second and more notably, strong, secular growth dynamics are driving many of our end-markets, offsetting, if not benefitting from, Covid-19’s impact this year. Our business provides enabling technology and service to next-generation communications infrastructure, mobile devices and electric vehicles. This should continue to be the case for years to come.”

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