Why Element Solutions Stock Is Surging Today
Shares of Element Solutions (NYSE: ESI) rallied as much as 12.1% by 10:30 p.m. EST on Wednesday. Driving up shares of the specialty chemicals company was its updated guidance for 2020.
Element Solutions is increasing its adjusted EBITDA guidance for the fourth quarter. The company now expects to produce about $118 million of adjusted EBITDA during the period. That's up from its prior range of $90 million to $95 million. As a result, it now expects its full-year adjusted EBITDA to come in around $415 million.
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