Element Solutions Inc. Q1 Profit Decreases, but beats estimates

(RTTNews) - Element Solutions Inc. (ESI) released a profit for first quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line came in at $56.1 million, or $0.23 per share. This compares with $82.3 million, or $0.33 per share, in last year's first quarter.

Excluding items, Element Solutions Inc. reported adjusted earnings of $96.3 million or $0.38 per share for the period.

Analysts on average had expected the company to earn $0.35 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 23.7% to $680.2 million from $550.1 million last year.

Element Solutions Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $56.1 Mln. vs. $82.3 Mln. last year. -EPS (Q1): $0.23 vs. $0.33 last year. -Analyst Estimates: $0.35 -Revenue (Q1): $680.2 Mln vs. $550.1 Mln last year.

-Guidance: Full year EPS guidance: $1.55-$1.60