The Q2 earnings report for Element Solutions ESI was released on Monday, July 29, 2024 at 04:15 PM.
Here's what investors need to know about the latest announcement.
Earnings
Element Solutions beat estimated earnings by 3.0%, reporting an EPS of $0.36 versus an estimate of $0.35.
Revenue was up $26.60 million from the same period last year.
Overview of Past Earnings
In the previous quarter, the company beat on EPS by $0.02, resulting in a 4.0% drop change in the share price the following day.
Here's a look at Element Solutions's past performance:
| Quarter | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|
| EPS Estimate | 0.35 | 0.32 | 0.33 | 0.33 | 0.31 |
| EPS Actual | 0.36 | 0.34 | 0.32 | 0.36 | 0.31 |
| Revenue Estimate | 606.98M | 587.51M | 590.63M | 606.74M | 607.99M |
| Revenue Actual | 612.70M | 575.00M | 573.40M | 599.30M | 586.10M |
Peer Performance in Recent Earnings
With Element Solutions's earnings data in hand, it's essential to compare its metrics to those of similar companies, including Quaker Houghton, Innospec, and Minerals Technologies.
- Quaker Houghton, earnings revealed on May 02, 2024, exhibited robust performance this quarter. Contrary to the market's projected EPS of $1.99, Quaker Houghton exceeded expectations with an EPS of $2.09, reflecting an increase of 5.03% compared to estimates. This outcome is likely to gain investor confidence
- The latest earnings announcement from Innospec on May 09, 2024 exceeded expectations, with an actual EPS of $1.75 compared to the market's estimate of $1.64, resulting in a 6.71% increase.
- Minerals Technologies's earnings on July 25, 2024 exceeded market projections, revealing an EPS of $1.65 compared to the estimated EPS of $1.6, resulting in a 3.12% increase.
In-depth Analysis: Competitors' Quarterly Earnings and Stock Performance
This analysis provides insights into the market's response to the latest earnings releases of key competitors. It highlights the expected and announced earnings per share (EPS) for each company, along with the corresponding stock prices at the close of the announcement day and the open of the following trading day.
| Company Name | Date | EPS Expected | EPS Announced | EPS Change Percent | Stock Price At Close | Stock Price at Next Day Open | Price Change Percent |
|---|---|---|---|---|---|---|---|
| Element Solutions | July 29, 2024 | 0.35 | 0.36 | 2.86% | $26.92 | $26.11 | -3.01% |
| Quaker Houghton | May 02, 2024 | 1.99 | 2.09 | 5.03% | $192.7 | $194.54 | 0.95% |
| Innospec | May 09, 2024 | 1.64 | 1.75 | 6.71% | $126.3 | $130.3 | 3.17% |
| Minerals Technologies | July 25, 2024 | 1.60 | 1.65 | 3.12% | $88.25 | $87.18 | -1.21% |
Comparative Assessment: Estimated in Comparison with Actual Peer Revenues
Below is a comparison of estimated and announced revenue figures for Element Solutions's peers. This comparison gives insights into the revenue performance of these companies, providing valuable context for understanding their financial standing within the industry.
| Company Name | Estimated Revenue | Announced Revenue | Revenue Surprise Percentage |
|---|---|---|---|
| Element Solutions | 606.98M | 612.70M | 0.94% |
| Quaker Houghton | 494.52M | 469.76M | -5.01% |
| Innospec | 503.63M | 500.20M | -0.68% |
| Minerals Technologies | 556.35M | 541.20M | -2.72% |
To track all earnings releases for Element Solutions visit their earnings calendar here.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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