MIAMI – Element Solutions reported a 14% increase in third quarter Electronics sales, totaling $419 million.

As a whole, the company's third quarter sales of $645 million were an increase of 8% over the third quarter of 2023.

"Element Solutions delivered strong results once again this quarter," said president and CEO Benjamin Gliklich. "Financially, operationally and strategically, we executed well. The Electronics segment continued to capitalize on developing technology trends like advanced packaging and high-performance computing, which represent the highest value and fastest growing portions of our markets. We have invested deliberately over several years to build capabilities oriented towards these emerging opportunities, and our results reflect progress, particularly in the context of ongoing softness in several historical core markets, including Western smartphones and automotive. Our Industrial & Specialty business also grew earnings despite a weakening industrial macro backdrop over the course of the quarter, particularly in Europe. Taken together, we continue to deliver on our commitments and to outperform our markets in each of our segments. Our narrowed full year 2024 adjusted EBITDA guidance range implies record earnings despite overall end-markets remaining well below prior peak levels.

"Our actions this quarter repositioned our portfolio and improved our overall business quality and balance sheet. The previously announced sale of MacDermid Graphics Solutions will further focus our company on its core markets and should improve our underlying growth rate, margins and cash return on investment. The transaction is expected to close between year end and the end of the second quarter of 2025, pending closing conditions and regulatory approvals. Including the expected proceeds from the transaction, our net leverage ratio at year end 2024 would be approximately 2.5x leaving more capacity for strategic capital deployment than we have had in several years. Element Solutions is well-positioned for another record year in 2025."