Element Solutions Rises 12% As Annual Earnings Outlook Better Than View

(RTTNews) - Shares of Element Solutions Inc (ESI) are rising more than 12 percent Wednesday morning after the specialty chemicals company guided annual adjusted earnings per share above analysts' view. It also raised its full-year adjusted EBITDA outlook.

The company expects adjusted EPS for the year to be between $1.40 and $1.46, above the average estimate of analysts polled by Thomson-Reuters of $1.39 per share.

Further, full-year adjusted earnings before interest, taxes, depreciation, and amortization or adjusted EBITDA outlook has been raised to $530 million - $545 million from the previous outlook of $515 million - $530 million.

ESI, currently at $26.68, has traded in the range of $17.57 - $26.70 in the last 1 year.