Solstice Advanced Materials

Solstice Advanced Materials makes specialty chemicals and materials. Honeywell spun it off as a separate public company on October 30, 2025, and its shares trade on the Nasdaq. It has two segments. Refrigerants & Applied Solutions sells low global-warming refrigerants, building materials and intermediates, nuclear fuel conversion services and healthcare packaging films.

Its Metropolis Works plant in Illinois is the only uranium conversion facility in the US. Electronic & Specialty Materials sells materials for semiconductor manufacturing, research chemicals and protective fibers for safety and defense. In Q3 2026, net sales were $1,046 million, and refrigerants gave $433 million of them. For 2026, Solstice expects net sales of $4,195 million to $4,220 million and adjusted EBITDA of $1,050 million to $1,060 million.

The market lost trust in how Solstice uses its capital. On July 6, 2026, Solstice agreed to buy Element Solutions in a cash-and-stock deal valued at about $14.5 billion, with new debt, and the stock fell by about a quarter that week. After shareholders objected, the two companies ended the deal on August 27, 2026, with no fees, and Solstice approved a $500 million share buyback. The stock did not recover, so investors still fear that management will try another large deal.

Margins also fell. The adjusted EBITDA margin of Refrigerants & Applied Solutions fell to 32.9% in Q2 2026 from 39.4% a year earlier, because of plant turnarounds and production credits in the prior year, and it was 34.5% in Q3 2026 against 35.4% a year earlier. Capital spending rises to $420 million to $440 million in 2026. Results are now strong: Q3 2026 net sales rose 8% to $1,046 million, above guidance, and Solstice raised its 2026 guidance for the second time.

For the gap to close, four things must be true. Solstice must meet its raised 2026 guidance of $1,050 million to $1,060 million of adjusted EBITDA and give 2027 guidance with growth. The segment margin must stay in the mid-30% range. Solstice must use its cash for buybacks and organic growth, not for large purchases; it intends to substantially complete the $500 million buyback by the end of Q1 2027.

The Metropolis lawsuit settlement must be signed and approved at no material cost. The next test is the FY 2026 report in about February 2027, which gives the 2027 guidance. If results hold and capital use stays disciplined, the gap can close over the next two to four quarters.

1. Nov 4, 2026Passed

   Q3 2026 results: refrigerant margins and guidanceNet sales within $990 million to $1,030 million, a Refrigerants & Applied Solutions margin near the mid-30% range and the full-year guidance kept pass; a guidance cut fails.Outcome: Net sales of $1,046 million were above the top of the guidance range, the Refrigerants & Applied Solutions margin was 34.5% and Solstice raised its full-year guidance.
2. Feb 4, 2027 · est.Pending

   FY 2026 results, 2027 guidance and buybacks2026 adjusted EBITDA of $1,050 million to $1,060 million, growth in the 2027 guidance and most of the $500 million buyback done pass; a new large debt-funded purchase fails.
3. Q2 2027 · est.Pending

   Final Metropolis settlementA signed settlement with court approval and no material cost passes; a failed settlement or a large charge fails.

Every passed and failed checkpoint across all picks

• November 4, 2026Solstice reported Q3 2026 results. Net sales rose 8% to $1,046 million, above its guidance of $990 million to $1,030 million, and organic growth was 8%. Electronic Materials sales rose 31%, Refrigerants 8% and Healthcare Packaging 24%. Adjusted EBITDA rose 13% to $265 million, a margin of 25.3%, and the Refrigerants & Applied Solutions margin was 34.5%. Solstice raised its 2026 guidance to net sales of $4,195 million to $4,220 million, adjusted EBITDA of $1,050 million to $1,060 million and adjusted EPS of $2.90 to $2.95. It bought back $100 million of shares in Q3 and intends to substantially complete the $500 million buyback by the end of Q1 2027.
• November 3, 2026Solstice declared a quarterly dividend of $0.075 per share, payable on December 10, 2026.
• October 9, 2026Solstice announced a $49 million investment to expand its research and development facility in Buffalo, New York.

Last earnings

November 4, 2026 (8-K on sec.gov)

Next earnings

Expected about February 4, 2027. The company has not confirmed the date.

• 10-QQuarterly report for the period ended Sep 30, 2026Filed November 4, 2026 · sols-20260930
• 8-KEarnings releaseFiled November 4, 2026 · Press release and exhibits
• 8-KOther company newsFiled November 3, 2026 · sols-20261103
• 8-KNew material agreement and End of a material agreementFiled August 27, 2026 · Read it on sec.gov
• 10-QQuarterly report for the period ended Jun 30, 2026Filed July 30, 2026 · sols-20260630
• 8-KEarnings releaseFiled July 30, 2026 · Press release and exhibits
• 8-KNew material agreementFiled July 27, 2026 · Read it on sec.gov
• 8-KInvestor disclosureFiled July 20, 2026 · Read it on sec.gov
• 8-KOther company newsFiled July 17, 2026 · sols-20260717
• 8-KNew material agreement and Other company newsFiled July 7, 2026 · Read it on sec.gov

Every filing on SEC EDGAR (CIK 2064953)

• Management tried a large purchase that shareholders did not want. If Solstice tries another large deal with new debt, investors can lose more trust and the balance sheet can weaken.
• Refrigerants give the largest part of sales. Prices for low global-warming refrigerants depend on regulation and on new capacity from competitors. A fall in refrigerant prices lowers the segment margin, which was 34.5% in Q3 2026 against 35.4% a year earlier, after 32.9% in Q2 2026.
• The Metropolis Works plant handles uranium hexafluoride. The settlement of the lawsuits is not final, and a safety or environmental problem at the plant can stop the nuclear business and add costs.
• Capital spending rises to $420 million to $440 million in 2026 for growth projects. If demand from semiconductor, data center or nuclear customers grows more slowly, the returns on these projects fall.
• Solstice is a new public company with its own costs after the spin-off from Honeywell. Higher standalone costs and interest expense reduced the growth in profit in 2026.

Solstice took on its debt before the spin-off from Honeywell. At September 30, 2026, debt was a $998 million term loan due 2032, at 5.57%, $1,000 million of 5.625% senior notes due September 30, 2033, and $105 million of finance leases. Read more

Yield at the current rate

0.4% (current annual rate, at today’s price)

Dividend yield

0.3% (last 12 months, at today’s price of $67.15)

Paid per share

$0.225 in the last 12 months (3 payments)

Current annual rate

$0.30 ($0.075 × 4 a year)

Latest ex-dividend date

August 27, 2026, $0.075 per share

Fewer payments or a raise. The last 12 months paid at least 25% less than the current annual rate. A payment may fall just outside the 12 months, or the company may have raised its dividend.

Dividends per share by year

Source: company filings and market data, read on November 13, 2026. The ex-dividend date is the first day a buyer no longer gets the next payment.