https://www.avient.com/knowledge-base/article/using-post-consumer-recycled-content-plastic-packaging-closures?ind[]=6599
Oct 31, 2023
Maintaining brand color equity, part dimensions, and mechanical properties are areas of concern when PCR is included at 30% or more in the molded part.
https://www.avient.com/sites/default/files/2023-07/AVNT Q2 2023 Earnings Press Release%5B43%5D.pdf
Eastern Time on July 27, 2023.
The comprehensive publication is issued in advance of Avient’s
upcoming Sustainability Day to be held on September 20, 2023.
Three Months Ended
June 30,
Six Months Ended
June 30,
Reconciliation to Consolidated Statements of Income 2023 2022 2023 2022
Sales $ 824.4 $ 891.0 $ 1,670.1 $ 1,783.2
Gross margin - GAAP 240.7 260.9 488.3 515.3
Special items in gross margin (Attachment 3) 14.2 (2.0) 22.2 3.8
Adjusted gross margin $ 254.9 $ 258.9 $ 510.5 $ 519.1
Adjusted gross margin as a percent of sales 30.9 % 29.1 % 30.6 % 29.1 %
Operating income - GAAP 62.3 100.1 119.4 202.3
Special items in operating income (Attachment 3) 21.8 1.8 48.9 8.6
Adjusted operating income $ 84.1 $ 101.9 $ 168.3 $ 210.9
Adjusted operating income as a percent of sales 10.2 % 11.4 % 10.1 % 11.8 %
Three Months Ended
June 30,
Six Months Ended June
30,
Reconciliation to EBITDA and Adjusted EBITDA: 2023 2022 2023 2022
Net income from continuing operations – GAAP $ 22.3 $ 62.8 $ 43.6 $ 127.5
Income tax expense 10.4 22.7 18.1 42.7
Interest expense, net 29.4 16.2 58.2 33.1
Depreciation and amortization 47.6 36.5 98.1 74.3
EBITDA from continuing operations $ 109.7 $ 138.2 $ 218.0 $ 277.6
Special items, before tax 21.7 0.9 49.0 7.6
Depreciation and amortization included in special items (0.1) (1.1) (1.9) (3.2)
Adjusted EBITDA $ 131.3 $ 138.0 $ 265.1 $ 282.0
Adjusted EBITDA as a % of sales 15.9 % 15.5 % 15.9 % 15.8 %
NEWS RELEASE
Attachment 1
https://www.avient.com/sites/default/files/2023-11/AVNT Q3 2023 Earnings Press Release.pdf
CLEVELAND – November 2, 2023 – Avient Corporation (NYSE: AVNT), a leading provider of
specialized and sustainable material solutions, today announced its third quarter 2023 results.
Eastern Time on November 2, 2023.
3
Webcast Details
Avient will host a webcast on Thursday, November 2, 2023 at 8:00 a.m.
Three Months Ended
September 30,
Nine Months Ended
September 30,
Reconciliation to Consolidated Statements of Income 2023 2022 2023 2022
Sales $ 753.7 $ 823.3 $ 2,423.8 $ 2,606.5
Gross margin - GAAP 195.3 195.4 683.6 710.7
Special items in gross margin (Attachment 3) 40.2 31.8 62.4 35.6
Adjusted gross margin $ 235.5 $ 227.2 $ 746.0 $ 746.3
Adjusted gross margin as a percent of sales 31.2 % 27.7 % 30.8 % 28.6 %
Operating income - GAAP 34.3 40.6 153.7 242.9
Special items in operating income (Attachment 3) 41.0 40.2 89.9 48.8
Adjusted operating income $ 75.3 $ 80.8 $ 243.6 $ 291.7
Adjusted operating income as a percent of sales 10.0 % 9.8 % 10.1 % 11.2 %
Three Months Ended
September 30,
Nine Months Ended
September 30,
Reconciliation to EBITDA and Adjusted EBITDA: 2023 2022 2023 2022
Net income from continuing operations – GAAP $ 5.1 $ (27.8) $ 48.7 $ 99.7
Income tax (benefit) expense (0.1) (1.2) 18.0 41.5
Interest expense, net 30.3 37.3 88.5 70.4
Depreciation and amortization 46.4 39.8 144.5 113.7
EBITDA from continuing operations $ 81.7 $ 48.1 $ 299.7 $ 325.3
Special items, before tax 43.2 82.0 92.2 89.6
Interest expense included in special items (2.2) (10.0) (2.2) (10.0)
Depreciation and amortization included in special items — (0.8) (1.9) (4.0)
Adjusted EBITDA $ 122.7 $ 119.3 $ 387.8 $ 400.9
Adjusted EBITDA as a % of sales 16.3 % 14.5 % 16.0 % 15.4 %
NEWS RELEASE
Attachment 1
https://www.avient.com/news/circular-solution-dyneema-recognized-milipol-innovation-awards-finalist
November 14, 2023
End-of-life solution for Dyneema® based body armor honored at Milipol Paris 2023
Building on the preliminary success, a large-scale trial at the end of 2023 will validate findings with commercialization for the Circular Solution for Dyneema® aimed for 2025.
https://www.avient.com/news/avient-feature-specialty-technologies-and-services-healthcare-mdm-west-2023
Homepage
//
News Center
//
Avient to Feature Specialty Technologies and Services for Healthcare at MD&M West 2023
February 2, 2023
Avient will exhibit at MD&M West in booth #2101 on February 7-9, 2023.
https://www.avient.com/company/sustainability/sustainability-report/goals-commitments/2030-goals-progress/un-sdgs
In 2023, we were able to further optimize operations through executing over 80 waste minimization projects around the world.
Additionally, 47 of our manufacturing sites globally sent no waste to landfills in 2023.
In 2023, we reduced GHG emissions by 48%.
https://www.avient.com/sites/default/files/2023-03/AVNT Mar 2023 Earnings Presentation.pdf
WHAT WE DO: MATERIAL SCIENCE
5
CUSTOM
FORMULATION
FE BRUARY 1 5 , 2023
W EB CAS T
Q4 2022 VS.
Avient reflects 2023 adjusted EBITDA guidance of $530M and estimated run-rate CAPEX of $110M.
Avient Specialty
Other Specialty /
2023E(%)
31
79
87
81 79
76
73
90
77 76 75 73
64
59
33
MULTIPLE EXPANSION
Avient Specialty
Other Specialty /
Note: Avient reflects 2023 adjusted EBITDA guidance of $530M and closing share price of $38.89.
https://www.avient.com/company/sustainability/sustainability-report/performance/sustainable-solutions-performance
In 2023, we delivered $1,135 million in sustainable solutions sales, now representing a third of our overall revenue.
Although our sustainable solutions revenue declined slightly in 2023 due to inventory destocking, sustainability continues to be a key secular growth trend that will require innovative solutions.
https://www.avient.com/sites/default/files/2023-07/AVNT Q2 2023 Earnings Presentation%5B70%5D.pdf
GUIDANCE
7
$845
$824
$130 $131
Sales Adjusted EBITDA
(in millions)
$0.60
$0.63
Adjusted EPS
(in millions)
Q2 2023 PERFORMANCE VS.
Avient reflects 2023 adjusted EBITDA guidance of $525M and estimated run-rate CAPEX of $110M.
2023E (%)
23
79
90
84 83
76
73
88
82
77
74 72
67
57
20
Avient Specialty
Other Specialty /
MULTIPLE EXPANSION
Note: Avient reflects 2023 adjusted EBITDA guidance of $525M and closing share price of $40.93.
Three Months Ended
June 30, 2023
Three Months Ended
June 30, 2022
Reconciliation to Condensed Consolidated Statements of Income $ EPS $ EPS
Net income from continuing operations attributable to Avient shareholders $ 22.1 $ 0.24 $ 62.8 $ 0.68
Special items, after tax 19.6 0.21 3.2 0.03
Amortization expense, after-tax 16.2 0.18 $ 10.5 $ 0.12
Adjusted net income / EPS $ 57.9 $ 0.63 $ 76.5 $ 0.83
Three Months Ended
June 30,
Six Months Ended June
30,
Reconciliation to EBITDA and Adjusted EBITDA: 2023 2022 2023 2022
Net income from continuing operations – GAAP $ 22.3 $ 62.8 $ 43.6 $ 127.5
Income tax expense 10.4 22.7 18.1 42.7
Interest expense, net 29.4 16.2 58.2 33.1
Depreciation and amortization 47.6 36.5 98.1 74.3
EBITDA from continuing operations $ 109.7 $ 138.2 $ 218.0 $ 277.6
Special items, before tax 21.7 0.9 49.0 7.6
Depreciation and amortization included in special items (0.1) (1.1) (1.9) (3.2)
Adjusted EBITDA $ 131.3 $ 138.0 $ 265.1 $ 282.0
Pro forma APM adjustments — 34.3 — 66.3
Pro forma adjusted EBITDA $ 131.3 $ 172.3 $ 265.1 $ 348.3
Pro forma adjusted EBITDA as a % of sales 15.9 % 17.4 % 15.9 % 17.6 %
1
AVNT Q2 2023 Earnings Presentation 7.26.23
IR Deck - AVNT-2023.06.30 7.24 1217PM non GAAP attachment
Attachment
https://www.avient.com/company/sustainability/sustainability-report/reporting/gri
Avient 2023 Proxy Statement Page 22
Avient 2023 Proxy Statement Page 17
102–30