Element Solutions Inc. (NYSE:ESI) Q3 2022 Earnings Conference Call October 27, 2022 8:30 AM ET
Company Participants
Varun Gokarn - Senior Director, Strategy and Finance
Benjamin Gliklich - CEO
Carey Dorman - CFO
Conference Call Participants
Kieran De Brun - Mizuho Securities
Joshua Spector - UBS
John Roberts - Credit Suisse
Robert Koort - Bank of America
Jonathan Tanwanteng - CJS Securities
Christopher Kapsch - Loop Capital Markets
Stefan Diaz - Morgan Stanley
Operator
Ladies and gentlemen, good morning. My name is Abby, and I will be your conference operator today. At this time, I would like to welcome everyone to the Element Solutions Inc. Third Quarter 2022 Financial Results Conference Call. Today's conference is being recorded. [Operator Instructions]
Thank you. And I will now turn the conference over to Varun Gokarn, Senior Director, Strategy and Finance. You may begin.
Varun Gokarn
Good morning, and thank you for participating in our third quarter 2022 earnings conference call. Joining me are our CEO, Ben Gliklich; and CFO, Carey Dorman. In accordance with Regulation FD, we are webcasting this conference call. A replay will be made available in the Investors section of the company's website shortly after the completion of the call.
During today's call, we will make certain forward-looking statements that reflect our current views about the company's future performance and financial results. These statements are based on assumptions and expectations of future events that are subject to risks and uncertainties. Please refer to our earnings release, supplemental slides and most recent SEC filings for a discussion of material risk factors that could cause actual results to differ from our expectations. These materials can be found on the company's website in the Investors section under News and Events.
Today's materials also include financial information that has not been prepared in accordance with U.S. GAAP. Please refer to the earnings release and supplemental slides for definitions and reconciliations of these non-GAAP measures to comparable GAAP financial measures.
It is now my pleasure to introduce Ben Gliklich, CEO of Element Solutions.
Benjamin Gliklich
Thank you, Varun, and good morning, everyone. Thank you for joining.
In the third quarter, Element Solutions produced solid top and bottom line organic growth despite an environment where macro fundamentals declined. Key end markets such as consumer electronics and mobile phones softened further. Automotive did not recover in line with expectations and the continued strength of the USD drove additional foreign exchange translation headwinds. Despite these challenges, both of our operating segments delivered organic growth in the mid-single digits as pricing actions, new business wins and a focus on high-growth electronics applications helped to offset declining volumes. This is a significant outperformance against our end markets.