Shares of Perimeter Solutions, SA (NYSE: PRM) surged 6.51% in pre-market trading on Thursday following the release of the company's impressive third-quarter financial results. The firefighting chemicals supplier and specialty products manufacturer reported earnings that significantly exceeded analyst expectations, driving investor enthusiasm.
Perimeter Solutions announced a 9% year-over-year increase in net sales, reaching $315.4 million for the quarter. This figure substantially outperformed the analyst consensus estimate of $238.27 million, beating expectations by an impressive 32.39%. The company's Fire Safety segment led the growth with a 9% increase in net sales, while the Specialty Products segment saw a robust 15% rise.
The strong top-line performance translated into solid profitability metrics. Adjusted EBITDA for the third quarter increased by 9% to $186.3 million, surpassing analyst projections of $138.55 million. Notably, the company reported adjusted earnings per share of $0.82, comfortably beating the analyst consensus of $0.68 by 21.48%.
Edward Goldberg, CEO of Perimeter Solutions, commented on the results, stating, "Our third-quarter performance demonstrates the strength of our business model and the growing demand for our fire safety and specialty products. We're particularly pleased with the strong execution across both our segments, which has allowed us to deliver significant value to our shareholders."
The market's positive reaction to Perimeter Solutions' earnings report underscores investor confidence in the company's growth trajectory and operational efficiency. As wildfires continue to pose significant challenges globally, the demand for Perimeter's fire safety products is expected to remain robust, potentially driving further growth in the coming quarters.
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