Solstice Advanced Materials raised its 2026 sales and profit outlook Wednesday after third-quarter net sales rose 8%, with its Electronic Materials business benefiting from demand tied to memory and AI applications.
The company now expects full-year net sales of $4.195 billion-$4.220 billion, compared with its previous range of $4.125 billion-$4.185 billion. Its adjusted EBITDA forecast increased to $1.050 billion-$1.060 billion from $1.035 billion-$1.055 billion. Adjusted diluted earnings per share guidance is now $2.90-$2.95, with the lower end up from $2.75 and the upper end unchanged at $2.95.
For the three months ended Sept. 30, net sales totaled $1.046 billion. Net income was $80 million, compared with a $35 million loss in the year-earlier quarter. Diluted earnings per share were $0.50, and adjusted diluted EPS was $0.80. Reuters, citing LSEG, reported an adjusted EPS estimate of $0.69; MT Newswires cited FactSet at $0.70. Solstice’s $0.80 result exceeded both.
Electronic Materials sales rose 31% to $135 million. Solstice attributed the increase to demand for sputtering targets and thermal solutions used in memory and AI applications. Refrigerant sales increased 8% to $433 million, with the company citing automotive and data center demand. Its nuclear business recorded $66 million in sales, up 4%, and had a $2.6 billion backlog at quarter’s end.
The Refrigerants & Applied Solutions segment’s adjusted EBITDA margin declined 82 basis points from a year earlier to 34.5%, partly because of higher research and development spending. Solstice returned $112 million to shareowners during the quarter, including $100 million in share repurchases. It plans to have executed most of its $500 million repurchase authorization by the end of the first quarter of 2027.
For the fourth quarter, Solstice forecast net sales of $1.010 billion-$1.035 billion, adjusted EBITDA of $246 million-$256 million and adjusted diluted EPS of $0.57-$0.62. The company declared a $0.075-per-share dividend, payable Dec. 10 to shareowners of record Nov. 25.
