https://www.avient.com/idea/achieve-sensory-branding-goals-packaging
A weighted closure’s sensation of heaviness and deep-pitched sound when set on a surface can shape a consumer’s perception of that product as high quality and premium.
For applications ranging from luxury spirits to cosmetics closures, these high-density filled polymers offer chemical resistance, customizable density and flexibility, and ease of processing.
https://www.avient.com/sites/default/files/2023-06/Trilliant HC-auto-injector-snapshot.pdf
MEDICAL CONTRACT
MANUFACTURER
A U T O - I N J E C T O R H O U S I N G
• Excellent chemical and wear resistance
• Excellent impact resistance
• Specific color matching based on customer’s needs
• Outstanding durability to extend product life
• Customized a chemically resistant formulation
to offer an impact-modified alternative to
traditional competitors in the market
• Provided technical support for material
selection, part & tool design, and process
development to accelerate commercialization
• Delivered custom color matching to meet all
key requirements
Custom Trilliant™ HC Healthcare Thermoplastic
KEY REQUIREMENTS
WHY AVIENT?
https://www.avient.com/sites/default/files/2024-02/AVNT Q4 2023 Earnings Press Release.pdf
Customer destocking
was also less impactful during the quarter."
Three Months Ended
December 31,
2023 2022
Reconciliation to Condensed Consolidated Statements of Income $ EPS(1) $ EPS(1)
Net income (loss) from continuing operations attributable to Avient
shareholders $ 27.8 $ 0.30 $ (17.0) $ (0.19)
Special items, after tax (Attachment 3) 5.4 0.06 38.3 0.42
Amortization expense, after-tax 15.0 0.16 14.6 0.16
Adjusted net income / EPS $ 48.2 $ 0.52 $ 35.9 $ 0.39
(1) Per share amounts may not recalculate from figures presented herein due to rounding
Year Ended
December 31,
2023 2022
Reconciliation to Condensed Consolidated Statements of Income $ EPS(1) $ EPS(1)
Net income from continuing operations attributable to Avient shareholders $ 75.8 $ 0.83 $ 82.8 $ 0.90
Special items, after tax (Attachment 3) 79.3 0.86 116.2 1.26
Amortization expense, after-tax 61.5 0.67 49.0 0.53
Adjusted net income / EPS $ 216.6 $ 2.36 $ 248.0 $ 2.69
(1) Per share amounts may not recalculate from figures presented herein due to rounding
7
Attachment 2
Avient Corporation
Condensed Consolidated Statements of Income (Unaudited)
(In millions, except per share data)
Three Months Ended
December 31,
Year Ended
December 31,
2023 2022 2023 2022
Sales $ 719.0 $ 790.4 $ 3,142.8 $ 3,396.9
Cost of sales 510.1 618.4 2,250.3 2,514.2
Gross margin 208.9 172.0 892.5 882.7
Selling and administrative expense 165.8 171.6 695.7 639.4
Operating income 43.1 0.4 196.8 243.3
Interest expense, net (26.8) (49.4) (115.3) (119.8)
Other income (expense), net 4.3 (28.4) 5.8 (59.7)
Income (loss) from continuing operations before income taxes 20.6 (77.4) 87.3 63.8
Income tax benefit (expense) 7.0 60.8 (11.0) 19.3
Net income (loss) from continuing operations 27.6 (16.6) 76.3 83.1
Income (loss) from discontinued operations, net of income taxes 0.8 561.5 (0.1) 620.3
Net income 28.4 544.9 76.2 703.4
Net loss (income) attributable to noncontrolling interests 0.2 (0.4) (0.5) (0.3)
Net income attributable to Avient common shareholders $ 28.6 $ 544.5 $ 75.7 $ 703.1
Earnings (loss) per share attributable to Avient common shareholders - Basic:
Continuing operations $ 0.30 $ (0.19) $ 0.83 $ 0.91
Discontinued operations 0.01 6.17 — 6.80
Total $ 0.31 $ 5.98 $ 0.83 $ 7.71
Earnings (loss) per share attributable to Avient common shareholders - Diluted:
Continuing operations $ 0.30 $ (0.19) $ 0.83 $ 0.90
Discontinued operations 0.01 6.17 — 6.73
Total $ 0.31 $ 5.98 $ 0.83 $ 7.63
Cash dividends declared per share of common stock $ 0.2575 $ 0.2475 $ 1.0000 $ 0.9600
Weighted-average shares used to compute earnings per common share:
Basic 91.2 91.0 91.1 91.2
Diluted 91.9 91.0 91.8 92.2
8
Attachment 3
Avient Corporation
Summary of Special Items (Unaudited)
(In millions, except per share data)
Special items (1)
Three Months Ended
December 31,
Year Ended
December 31,
2023 2022 2023 2022
Cost of sales:
Restructuring costs, including accelerated depreciation $ (2.0) $ (21.3) $ (11.9) $ (31.1)
Environmental remediation costs (17.2) (0.4) (69.7) (24.2)
Reimbursement of previously incurred environmental costs 1.6 — 1.6 8.3
Acquisition related costs — (23.8) — (34.1)
Impact on cost of sales (17.6) (45.5) (80.0) (81.1)
Selling and administrative expense:
Restructuring and employee separation costs (1.1) (4.3) (14.9) (5.3)
Legal and other (6.1) (4.0) (15.2) (3.0)
Acquisition related costs (1.3) (6.1) (5.9) (19.3)
Impact on selling and administrative expense (8.5) (14.4) (36.0) (27.6)
Impact on operating income (26.1) (59.9) (116.0) (108.7)
Interest expense, net - financing costs (0.1) (16.0) (2.3) (26.0)
Mark-to-market on derivatives — — — (30.9)
Pension and post retirement mark-to-market adjustment and other 3.8 (28.4) 3.7 (28.4)
Impact on other income (expense), net 3.8 (28.4) 3.7 (59.3)
Impact on income from continuing operations before income taxes (22.4) (104.3) (114.6) (194.0)
Income tax benefit on above special items 4.5 26.8 27.7 49.4
Tax adjustments(2) 12.5 39.2 7.6 28.4
Impact of special items on net income from continuing operations $ (5.4) $ (38.3) $ (79.3) $ (116.2)
Diluted earnings per common share impact $ (0.06) $ (0.42) $ (0.86) $ (1.26)
Weighted average shares used to compute adjusted earnings per share:
Diluted 91.9 91.7 91.8 92.2
(1) Special items include charges related to specific strategic initiatives or financial restructuring such as: consolidation of operations; debt
extinguishment costs; costs incurred directly in relation to acquisitions or divestitures; employee separation costs resulting from personnel
reduction programs, plant realignment costs, executive separation agreements; asset impairments; settlement gains or losses and mark-to-
market adjustments associated with gains and losses on pension and other post-retirement benefit plans; environmental remediation costs,
fines, penalties and related insurance recoveries related to facilities no longer owned or closed in prior years; gains and losses on the
divestiture of operating businesses, gains and losses on facility or property sales or disposals; results of litigation, fines or penalties, where
such litigation (or action relating to the fines or penalties) arose prior to the commencement of the performance period; one-time, non-
recurring items; and the effect of changes in accounting principles or other such laws or provisions affecting reported results
2) Tax adjustments include the net tax impact from non-recurring income tax items, adjustments to uncertain tax position reserves and the
establishment, reversal or changes to valuation allowances.
9
Special items (1)
Three Months Ended
March 31,
2023
Cost of sales:
Restructuring costs, including accelerated depreciation $ (6.6)
Environmental remediation costs (1.4)
Impact on cost of sales (8.0)
Selling and administrative expense:
Restructuring and employee separation costs (11.3)
Legal and other (4.4)
Acquisition related costs (3.4)
Impact on selling and administrative expense (19.1)
Impact on operating income (27.1)
Other loss (0.2)
Impact on income from continuing operations before income taxes (27.3)
Income tax expense on above special items 6.9
Tax adjustments(2) (1.9)
Impact of special items on net income from continuing operations $ (22.3)
Diluted earnings per common share impact $ (0.24)
Weighted average shares used to compute adjusted earnings per share:
Diluted 91.8
(1) Special items include charges related to specific strategic initiatives or financial restructuring such as: consolidation of operations; debt
extinguishment costs; costs incurred directly in relation to acquisitions or divestitures; employee separation costs resulting from personnel
reduction programs, plant realignment costs, executive separation agreements; asset impairments; settlement gains or losses and mark-to-
market adjustments associated with gains and losses on pension and other post-retirement benefit plans; environmental remediation costs,
fines, penalties and related insurance recoveries related to facilities no longer owned or closed in prior years; gains and losses on the
divestiture of operating businesses, gains and losses on facility or property sales or disposals; results of litigation, fines or penalties, where
such litigation (or action relating to the fines or penalties) arose prior to the commencement of the performance period; one-time, non-
recurring items; and the effect of changes in accounting principles or other such laws or provisions affecting reported results
https://www.avient.com/sites/default/files/2021-10/microbial-susceptibility-of-various-polymers-and-evaluation.pdf
A
growing trend in the industry has aimed to reduce microbial populations on
high-touch surfaces via the use of antimicrobials to protect material aesthetics
and durability or to prevent the spread of pathogenic microorganisms.
YI and opacity are increased as
ZPT loading increases, and processing at high temperatures
or extensive residence times appear to result in further
yellow-shifting (Figure S3).
While physical and mechanical properties were
generally retained (Table 3), clarity and YI were impacted
by the addition of ZPT biocide; reasonable contact clarity
can be achieved for thin-walled parts, and yellowness can
be compensated for through the use of blue tint additives
(Figure 3), but achieving high clarity and non-yellowing
antimicrobial formulations remains a challenge in this
field.