FX.co ★ Element Solutions Inc. Q1 Profit Increases, beats estimates

Element Solutions Inc. (ESI) has reported a rise in profits for its first quarter, outperforming last year's figures and exceeding Wall Street's predictions.

The company's earnings amounted to $56 million, equivalent to $0.23 per share, displaying a significant increase from the $43 million or $0.18 per share recorded during last year's first quarter.

Upon excluding certain items, adjusted earnings for Element Solutions Inc. were reported at $82.6 million or $0.34 per share for the quarter.

These numbers surpassed expectations from industry analysts, who on average, predicted the company would earn $0.32 per share, according to Thomson Reuters' compiled data. It's essential to note that these predictions typically do not consider special items.

In terms of revenue for the quarter, there was a slight rise of 0.1% for the company, increasing to $575 million from $574.4 million in the previous year.

Looking closely at Element Solutions Inc.'s earnings per the generally accepted accounting principles (GAAP), the company achieved earnings of $56 million in comparison to the $43 million of last year. The first quarter earnings per share also increased to $0.23 from $0.18 of the previous year, and the revenue rose to $575 million as opposed to $574.4 million recorded last year.