Solstice Advanced Materials shares fall after first-quarter earnings
Updated
Updated · Barron's · May 6
Solstice Advanced Materials shares fall after first-quarter earnings
8 articles · Updated · Barron's · May 6
The stock fell 6.9% to $77.78 after reporting adjusted EPS of 63 cents on $991 million in sales, slightly ahead of Wall Street estimates.
Investors focused on unchanged full-year guidance of $3.9 billion-$4.1 billion in sales and $2.45-$2.75 in earnings per share despite strong quarterly momentum.
Refrigerant, nuclear and electronic materials sales rose 19%, 27% and 21%, while construction-related sales fell 8%; the shares had already climbed 72% this year after the Honeywell spin-off.
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