FX.co ★ Element Solutions Rises 12% As Annual Earnings Outlook Better Than View

Shares of Element Solutions Inc (ESI) surged over 12% on Wednesday morning after the specialty chemicals company raised its annual adjusted earnings per share (EPS) and full-year adjusted EBITDA forecasts, surpassing analysts' expectations.

The company now projects its adjusted EPS for the year to range from $1.40 to $1.46, exceeding the Thomson-Reuters consensus estimate of $1.39 per share.

Additionally, Element Solutions has revised its full-year adjusted EBITDA outlook to between $530 million and $545 million, up from the previous forecast of $515 million to $530 million.

Currently trading at $26.68, ESI has fluctuated between $17.57 and $26.70 over the past year.