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Element Solutions (ESI) Comments on Cyber Security, Retains View
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Element Solutions Inc. (ESI - Free Report) recently detected a cyber intrusion on some of its information technology systems.
The company rapidly took action to control it and implement business continuity and data recovery protocols upon detection of the incident. It appointed leading cyber security experts and notified relevant law enforcement authorities as part of its incident response.
The impact of this event is projected to be limited and has not changed Element Solutions’ outlook for net sales or adjusted EBITDA in 2022. For the fiscal year 2021, it is reconfirming its earlier-announced guidance and forecasts adjusted EBITDA at or above the midpoint of its projection.
Shares of Element Solutions have gained 28% in the past year against a 0.4% rise of the industry.
Image Source: Zacks Investment Research
The company, in its third-quarter call, raised its adjusted EBITDA guidance for 2021 to the band of $515-$525 million, from $505-$520 million it expected earlier. It also expects adjusted earnings per share of more than $1.35 for the year. Free cash flow for the full year is projected to be at least $265 million.
For the fourth quarter, the company sees adjusted EBITDA to be around $118 million. It expects headwinds from supply chain disruptions to continue in the fourth quarter.
Zacks Rank & Key Picks
Element Solutions currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks worth considering in the basic materials space include Albemarle Corporation (ALB - Free Report) , Commercial Metals Company (CMC - Free Report) and AdvanSix Inc. (ASIX - Free Report) .
Albemarle, currently sporting a Zacks Rank #1 (Strong Buy), has an expected earnings growth rate of 49.8% for the current year. The Zacks Consensus Estimate for ALB's current-year earnings has been revised 9.2% upward in the past 60 days. You can see the complete list of today’s Zacks #1 Rank stocks here.
Albemarle beat the Zacks Consensus Estimate for earnings in each of the trailing four quarters, the average being 22.1%. ALB has rallied around 26.7% in a year.
Commercial Metals, flaunting a Zacks Rank #1, has a projected earnings growth rate of 10.5% for the current fiscal year. CMC's consensus estimate for the current fiscal year has been revised 6.6% upward in the past 60 days.
Commercial Metals beat the Zacks Consensus Estimate for earnings in three of the last four quarters while missing the same once. It has a trailing four-quarter earnings surprise of roughly 7.4%, on average. CMC has rallied around 58.1% in a year.
AdvanSix has a projected earnings growth rate of 3.9% for the current year. The Zacks Consensus Estimate for ASIX’s earnings for the current year has been revised 1.6% upward in the past 60 days.
AdvanSix beat the Zacks Consensus Estimate for earnings in each of the trailing four quarters, the average being 46.9%. ASIX has rallied 111.7% in a year. It currently carries a Zacks Rank #2 (Buy).
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Element Solutions (ESI) Comments on Cyber Security, Retains View
Element Solutions Inc. (ESI - Free Report) recently detected a cyber intrusion on some of its information technology systems.
The company rapidly took action to control it and implement business continuity and data recovery protocols upon detection of the incident. It appointed leading cyber security experts and notified relevant law enforcement authorities as part of its incident response.
The impact of this event is projected to be limited and has not changed Element Solutions’ outlook for net sales or adjusted EBITDA in 2022. For the fiscal year 2021, it is reconfirming its earlier-announced guidance and forecasts adjusted EBITDA at or above the midpoint of its projection.
Shares of Element Solutions have gained 28% in the past year against a 0.4% rise of the industry.
The company, in its third-quarter call, raised its adjusted EBITDA guidance for 2021 to the band of $515-$525 million, from $505-$520 million it expected earlier. It also expects adjusted earnings per share of more than $1.35 for the year. Free cash flow for the full year is projected to be at least $265 million.
For the fourth quarter, the company sees adjusted EBITDA to be around $118 million. It expects headwinds from supply chain disruptions to continue in the fourth quarter.
Zacks Rank & Key Picks
Element Solutions currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks worth considering in the basic materials space include Albemarle Corporation (ALB - Free Report) , Commercial Metals Company (CMC - Free Report) and AdvanSix Inc. (ASIX - Free Report) .
Albemarle, currently sporting a Zacks Rank #1 (Strong Buy), has an expected earnings growth rate of 49.8% for the current year. The Zacks Consensus Estimate for ALB's current-year earnings has been revised 9.2% upward in the past 60 days. You can see the complete list of today’s Zacks #1 Rank stocks here.
Albemarle beat the Zacks Consensus Estimate for earnings in each of the trailing four quarters, the average being 22.1%. ALB has rallied around 26.7% in a year.
Commercial Metals, flaunting a Zacks Rank #1, has a projected earnings growth rate of 10.5% for the current fiscal year. CMC's consensus estimate for the current fiscal year has been revised 6.6% upward in the past 60 days.
Commercial Metals beat the Zacks Consensus Estimate for earnings in three of the last four quarters while missing the same once. It has a trailing four-quarter earnings surprise of roughly 7.4%, on average. CMC has rallied around 58.1% in a year.
AdvanSix has a projected earnings growth rate of 3.9% for the current year. The Zacks Consensus Estimate for ASIX’s earnings for the current year has been revised 1.6% upward in the past 60 days.
AdvanSix beat the Zacks Consensus Estimate for earnings in each of the trailing four quarters, the average being 46.9%. ASIX has rallied 111.7% in a year. It currently carries a Zacks Rank #2 (Buy).