Benzinga | Jan 5, 2022 08:38AM EST

Element Solutions Inc Issues Statement Regarding Cyber Security Incident

Element Solutions Inc (NYSE:ESI) ("Element Solutions" or "the Company") today issued the following statement:

Element Solutions recently detected a cyber intrusion on certain of the Company's information technology systems. Upon detection of the incident, the Company promptly took action to contain it and implement business continuity and data recovery protocols. The Company engaged leading cyber security experts and notified relevant law enforcement authorities as part of its incident response. The impact of this incident is expected to be limited and has not changed the Company's outlook for net sales or adjusted EBITDA in 2022. For the fiscal year 2021, the Company is reconfirming its previously announced guidance and expects adjusted EBITDA at or above the midpoint of its guidance range.