Solstice raises full-year forecast on strong refrigerants, electronic materials demand

The company's second-quarter net sales rose more than 11% to $1.15 billion from a year ago and adjusted core profit increased 2% to $290 million.

The Morris Plains, New Jersey-based company posted adjusted profit of 88 cents per share for the three months ended June 30, compared with analysts' estimate of 77 cents.

Solstice, which was spun off from Honeywell last year as part of the conglomerate's plan to separate into three independent companies, supplies materials and chemicals to industries, including semiconductors, refrigeration, nuclear power and healthcare.

Earlier this month, Solstice said it will buy specialty chemicals peer Element Solutions in a $14.5 billion deal, aiming to capitalize on growing demand for AI data centers and the semiconductor industry.

Solstice raised its 2026 adjusted earnings expectations to between $2.75 and $2.95 per share from $2.45 to $2.75 per share it previously forecast.

It now expects annual net sales to be between $4.13 billion and $4.19 billion, up from its prior forecast of $3.9 billion to $4.1 billion.

The company anticipates third-quarter net sales to be between $990 million and $1.03 billion, the midpoint of which is in line with analysts' average estimate, according to data compiled by LSEG.

July 30 (Reuters) - Solstice Advanced Materials raised its full-year adjusted profit and sales forecast on Thursday, driven by strong demand for nuclear, refrigerants and electronic materials, as well as pricing actions.

The specialty materials maker is benefiting from growing demand for its thermal management and refrigerant products serving the rapidly expanding AI data center market, alongside an increasing need for advanced semiconductor materials used in next-generation computing and other data-intensive applications.