Solstice Advanced Materials and Element Solutions have mutually agreed to terminate their previously announced agreement for Solstice to acquire Element Solutions. No fees are payable by either party as a result of the termination. Solstice also authorized a $500 million share repurchase program and reaffirmed its third-quarter and full-year 2026 financial guidance.
The Solstice Board of Directors approved the company’s first share repurchase program, authorizing purchases of up to $500 million of common stock. Additional information on the program was included in Solstice’s Form 8-K filed with the U.S. Securities and Exchange Commission.
For full-year 2026, Solstice expects net sales of $4.125 billion to $4.185 billion, adjusted EBITDA of $1.035 billion to $1.055 billion, adjusted diluted EPS of $2.75 to $2.95, and capital expenditures of $420 million to $440 million. Third-quarter net sales guidance remains $990 million to $1.03 billion.
“While we viewed the Element acquisition as an opportunity to accelerate our strategy, we have great confidence in our strategic plan and respect our shareholders’ views,” said David Sewell, President and Chief Executive Officer of Solstice. “As demonstrated by our reported results and recently increased guidance, which we are reaffirming today, the Solstice team is executing well and with discipline across our operations.”