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Fran Mitsch

Research Analyst at Fermium Research

Frank J. Mitsch is President and Senior Analyst at Fermium Research, specializing in chemicals equity research and covering industry leaders such as Dow, DuPont, LyondellBasell, Celanese, and Westlake Chemical. Renowned for his stock selection, Mitsch has consistently ranked among the top analysts—earning the No. 1 spot for estimate accuracy in the Financial Times/StarMine survey twice, being named a top three earnings estimator in his industry seven of the past ten years, and featuring in The Wall Street Journal’s Best on the Street analyst survey for stock selection four times. He launched Fermium Research in 2018 after more than seven years at Wells Fargo Securities as Managing Director and Senior Chemicals Equity Research Analyst, previously holding roles at BB&T Capital Markets and starting his Wall Street career at Merrill Lynch. Holding a BS in Chemical Engineering from Stevens Institute of Technology and an MBA in finance from Michigan State University, Mitsch is widely regarded as one of the leading chemical sector analysts but does not hold FINRA registrations, as Fermium Research is not a broker-dealer.

Fran Mitsch's questions to Element Solutions (ESI) leadership

Question · Q3 2025

Fran Mitsch from Fermium Research inquired about potential antitrust issues for the Micromax deal, given the quick anticipated closing time. He also asked what most positively surprised Element Solutions Inc relative to its Q3 guidance and how that trend is continuing into the fourth quarter.

Answer

President and CEO Benjamin Gliklich stated that Element Solutions Inc does not anticipate substantial regulatory hurdles for the Micromax acquisition, as it is a complementary capability with no significant technology or market share overlap. He identified the industrial solutions business as the most positive surprise in Q3, noting volume growth and organic growth when adjusting for a prior-year equipment sale. Mr. Gliklich added that momentum in the electronics side of the business has been a positive surprise thus far in Q4, indicating strong continued performance into 2026.

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Question · Q3 2025

Fran Mitsch inquired about potential antitrust issues for the Micromax deal, given the quick expected closing time in Q1 2026. She also asked about the most positive surprises relative to guidance in the third quarter and how those trends are continuing into the fourth quarter.

Answer

President and CEO Benjamin Gliklich stated that Micromax is a complementary capability with no substantial technology or market share overlap, thus not anticipating significant regulatory hurdles. Regarding Q3, Mr. Gliklich highlighted the industrial solutions business as the biggest positive surprise, noting strong volume and organic growth (adjusted for a prior-year equipment sale) and favorable mix. He added that momentum in the electronics side, particularly high-end electronics, has been a positive surprise so far in Q4.

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