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● ● Net sales of $ 616 million , an increase of 29 % from the third quarter last year on a reported basis or an increase of 13 % on an organic basis GAAP diluted EPS of $ 0.15 , unchanged from the prior year period ; adjusted EPS of $ 0.35 , compared to $ 0.22 in the same period last year element ™ solutions Reported net income of $ 36 million , unchanged from the prior year period Adjusted EBITDA of $ 132 million , an increase of 25 % from the third quarter last year on a constant currency basis Third quarter 2021 cash from operating activities of $ 92 million and free cash flow of $ 81 million Full - year 2021 guidance raised to an adjusted EBITDA range of $ 515 million to $ 525 million , and adjusted EPS of greater than $ 1.35 Element Solutions Inc Announces 2021 Third Quarter Financial Results Miami , Fla . , October 27 , 2021 Element Solutions Inc ( NYSE : ESI ) ( " Element Solutions " or the " Company " ) , a global and diversified specialty chemicals company , today announced its financial results for the three and nine months ended September 30 , 2021 . Executive Commentary President and Chief Executive Officer Benjamin Gliklich said , " Despite a problematic supply chain environment and turbulence in the automotive market , Element Solutions had a terrific third quarter . We grew net sales , maintained strong margins , and generated substantial free cash flow . This is a testament to the persistence of our excellent team all over the world delivering daily for our customers in the face of challenges in raw material procurement , logistics , and ongoing COVID - related matters . It is also a reflection of the powerful secular trends in next generation wireless technology and vehicle electrification propelling our electronics business to record performance . We are off to a running start with the Coventya integration , and the expected benefits of this combination in terms of growth opportunities and cost savings are becoming increasingly tangible just two months after closing . " Mr. Gliklich continued , " While last year we had a very strong sequential and overall performance in the fourth quarter driven by the catch up in production post - COVID shutdowns and delayed mobile launches , the fourth quarter is traditionally slower than the third , and , with headwinds from supply chain disruptions , this year should be no different . Despite a far weaker automotive market , our full - year 2021 adjusted EBITDA guidance today remains in the range we communicated last quarter even before any contribution from our Coventya acquisition . To support top - line growth and build adequate safety stock , we have invested a significant amount in working capital this year . Nonetheless , we expect to grow free cash flow year over year . With the benefit of a full twelve months ' contribution from Coventya , our net debt ratio at the end of the quarter would have been below 3.0x , providing us with flexibility to continue to invest in growth and return capital in the forms of buybacks and / or cash dividend increases . Given this dynamic backdrop , it is early to comment on 2022 , but our expectations are for robust growth . With the secular trends in our electronics business , an anticipated cyclical recovery in our industrial businesses , and our proven ability to outgrow both of these markets through strong execution , we expect another record year in 2022. " Third Quarter 2021 Highlights ( compared with third quarter 2020 ) Net sales on a reported basis for the third quarter of 2021 were $ 616 million , an increase of 29 % over the third quarter of 2020. Organic net sales , which exclude the impact of currency changes , certain pass - through metal prices and acquisitions , increased 13 % . O Electronics : Net sales increased 30 % to $ 399 million . Organic net sales increased 11 % . Industrial & Specialty : Net sales increased 27 % to $ 218 million . Organic net sales increased 15 % . Third quarter of 2021 earnings per share ( EPS ) performance : O O 0 GAAP diluted EPS was $ 0.15 for the third quarter of 2021 and 2020 , respectively . Adjusted EPS was $ 0.35 , as compared to $ 0.22 per share in prior year .