Solstice Advanced Materials Inc. · NASDAQ:SOLS
Solstice Advanced Materials — Q3 2025 Earnings Presentation
21 slides from Solstice Advanced Materials's earnings presentation, Nov 6, 2025
Slide 1: Third Quarter 2025 Financial Results
November 6, 2025 Third Quarter 2025 Financial Results © 2025 Solstice Advanced Materials Inc.
Slide 2: Forward-Looking Statements & Other Disclaimers
Forward-Looking Statements & Other Disclaimers This presentation contains “forward-looking statements” within the meaning of the federal securities laws made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 about us and our industry that involve substant
Slide 3: Today's Speakers
Today’s Speakers David Sewell Tina Pierce Mike Leithead President & Chief Executive Officer Chief Financial Officer Vice President, Investor Relations 3
Slide 4: Third Quarter 2025 Highlights
Third Quarter 2025 Highlights Operating as standalone public company with spin-off completed on Oct. 30 Strong Net Sales growth of 7% reflects demand and value of Solstice’s differentiated product platform Healthy margins reflecting operational excellence, capital efficiency, and the specialty natur
Slide 5: Third Quarter 2025 Consolidated Results
Third Quarter 2025 Consolidated Results Consolidated Financial Highlights Key Takeaways ($ in millions) Q3 2025 Q3 2024 % Change Strong YoY Net Sales growth driven by Refrigerants, Electronic Materials, and Safety & Defense Solutions Net Sales $969 $907 7% RAS Net Sales growth driven by 22% YoY incr
Slide 6: Net Sales and Adjusted Standalone EBITDA (estimate) Bridges
Net Sales and Adjusted Standalone EBITDA (estimate) Bridges 1 Adj. EBITDA by Segment (Change in Adj. EBITDA) & Net Sales by Segment (Change in Net Sales) Adj. Standalone EBITDA Margins (estimate) 1 ($ in millions) ($ in millions and as a % of Net Sales) Includes impact of: • Anticipated transitory c
Slide 7: Third Quarter 2025 Refrigerants & Applied Solutions Results
Third Quarter 2025 Refrigerants & Applied Solutions Results • YoY increase in RAS Net Sales primarily driven by 22% growth Q3 2025 vs. Q3 2024 in Refrigerants, partially offset by Healthcare Packaging Net Sales Growth 9% • YoY decline in RAS Segment Adjusted EBITDA primarily driven by stationary ref
Slide 8: Third Quarter 2025 Electronic & Specialty Materials Results
Third Quarter 2025 Electronic & Specialty Materials Results • YoY increase in ESM Net Sales primarily driven by growth in Q3 2025 vs. Q3 2024 Electronic Materials and Safety & Defense Solutions, partially offset by lower volumes in Research & Performance Net Sales Growth 2% Chemicals Less: Foreign C
Slide 9: Balance Sheet and Capital Management
Balance Sheet and Capital Management Cash Flow Highlights Capital Structure (Nine Months Ended September 30, 2025) (As of October 30, 2025) • Capital Expenditures of $248 million ($ in millions) Term Loan B • Adjusted Standalone EBITDA (estimate) - Capex1 of $520 $1 billion (SOFR + 175 bps) million
Slide 10: Financial Guidance
Financial Guidance Medium-Term 2024 2025E Financial Framework Net Sales Low to Mid Single Digit % ($ in millions) $3,770 $3,750 - $3,850 Organic Net Sales CAGR Adj. Mid Single Digit % Standalone Adj. Standalone EBITDA CAGR 2 3 EBITDA Margin 26.4% ~25% (estimate)1 >70% (%) Cash Conversion1,4 Capex $2
Slide 11: Key Takeaways
Key Takeaways On track to deliver on full-year 2025 guidance Focused on differentiated growth strategy as an independent company Refined operating model to continue driving operational excellence Near-term transition leads to long-term margin expansion opportunity Strong liquidity position and finan
Slide 12: Appendix
Appendix
Slide 13: Adjusted Standalone EBITDA (estimate) Bridge From Q3 2024 to Q4 2025
Adjusted Standalone EBITDA (estimate) Bridge From Q3 2024 to 1 Q4 2025 1 1 Adj. Standalone EBITDA (estimate) & Adj. Standalone EBITDA Margins (estimate) Margin impact not expected ($ in millions and as a % of Net Sales) to carry over to 2026 Adj. Standalone EBITDA Margin 27% ~100bps ~200bps 24% ~100
Slide 14: Consolidated Statement of Operations
Consolidated Statement of Operations For The Three Months Ended For The Nine Months Ended September 30, September 30, 2025 2024 2025 2024 1 Product sales $905 $843 $2,687 $2,621 2 Service sales 64 64 212 236 Net sales 969 907 2,899 2,857 Costs, expenses and other Cost of products sold3 613 528 1,745
Slide 15: Reconciliation of Organic Sales Percentage
Reconciliation of Organic Sales Percentage Three Months Ended September 30, 2025 vs 2024 Total % Change in Net Sales 7% Less: Foreign Currency Translation 2% Less: Acquisitions, Divestitures and Other, Net 0% Organic Sales Percentage 5% 15
Slide 16: Reconciliation of Adjusted EBITDA, Adjusted Standalone EBITDA (estimate)
Reconciliation of Adjusted EBITDA, Adjusted Standalone EBITDA (estimate) For The LTM For The Three Months Ended For The Nine Months Ended Ended September 30, September 30, September 30, ($ in millions) 2025 2024 2025 2024 2025 Net (loss) income attributable to Solstice Advanced Materials $(35) $(152
Slide 17: Reconciliation of Adjusted Standalone EBITDA (estimate)
Reconciliation of Adjusted Standalone EBITDA (estimate) For The Three Months Ended For The Nine Months Ended September 30, September 30, ($ in millions) 2025 2024 2025 2024 Refrigerants & Applied Solutions (RAS) $687 $630 $2,079 $2,075 Electronic & Specialty Materials (ESM) 282 277 820 782 Total Net
Slide 18: Reconciliation of Adjusted EBITDA – Capex and Cash Conversion
Reconciliation of Adjusted Standalone EBITDA (estimate) – Capex and Calculation of Cash Conversion For The Nine Months Ended September 30, ($ in millions) 2024 2025 Adjusted Standalone EBITDA (estimate) (non-GAAP) $760 $768 Less: Capex (201) (248) Adjusted Standalone EBITDA (estimate) - Capex (non-G
Slide 19: Capitalization Table
Capitalization Table ($ in millions) October 30, 2025 Debt Term Loan B due 2032 $1,000 Unsecured Senior Notes due 2033 $1,000 Total Debt $2,000 Less: Cash and Cash Equivalents (estimate) ~$450 Net Debt (Non-GAAP) $1,550 LTM 9/30/2025 Adjusted Standalone EBITDA (estimate) (Non-GAAP) $1,003 Total Leve
Slide 20: Non-GAAP Financial Measures
Non-GAAP Financial Measures The Company uses non-GAAP financial measures to supplement the financial measures prepared in accordance with U.S. GAAP. These include (1) Organic sales percentage, (2) Adjusted EBITDA, (3) Adjusted EBITDA Margin, (4) Adjusted Standalone EBITDA (estimate), (5) Adjusted St
Slide 21: © Solstice
© Solstice
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