Element Solutions reported third-quarter net sales of $995.3 million, up 52% as reported and 13% organically, with adjusted EBITDA of $191 million and adjusted EPS of $0.50 versus $0.41 a year earlier. Electronics organic sales grew 18%, led by a 24% rise in semiconductors and 30% revenue growth in China, while Industrial Solutions grew 3% on price increases and Offshore Solutions fell 13% after an equipment failure at a large customer. The company raised its full-year adjusted EBITDA outlook to about $720 million and expects adjusted EPS growth above 20%. It generated $135 million of free cash flow, ended the quarter at a 2.7x pro forma net leverage ratio, and bought back about 1.1 million shares for nearly $38 million. Management also ended the proposed merger with Solstice to focus on its standalone growth plan.
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