https://www.avient.com/investor-center/news/polyone-shareholders-approve-all-proposals-2016-annual-meeting-robert-m-patterson-becomes-chairman-board
Newlin said, "It has truly been an honor for me to serve
https://www.avient.com/news/avient-design-and-georgia-tech-students-team-innovate-polystrand-composites
Working with Avient Design on this project gave me a good sense of what working in the industry is like.
https://www.avient.com/sites/default/files/2022-11/Avient Announces Third Quarter 2022 Results.pdf
Given the challenging conditions we are facing, I’m incredibly proud of everything we have
accomplished in the last few months,” Mr.
Three Months Ended
September 30,
Nine Months Ended
September 30,
Reconciliation to Consolidated Statements of Income 2022 2021 2022 2021
Sales $ 823.3 $ 818.0 $ 2,606.5 $ 2,508.5
Gross margin - GAAP 195.4 215.6 710.7 727.3
Special items in gross margin (Attachment 3) 31.8 17.3 35.6 27.7
Adjusted gross margin $ 227.2 $ 232.9 $ 746.3 $ 755.0
Adjusted gross margin as a percent of sales 27.7 % 28.5 % 28.6 % 30.1 %
Operating income - GAAP 40.6 52.8 242.9 229.6
Special items in operating income (Attachment 3) 40.2 20.0 48.8 36.6
Adjusted operating income $ 80.8 $ 72.8 $ 291.7 $ 266.2
Adjusted operating income as a percent of sales 9.8 % 8.9 % 11.2 % 10.6 %
The table below reconciles pre-special income tax expense and the pre-special effective tax rate to their most comparable US
GAAP figures.
Three Months Ended September 30,
2022 2021
GAAP
Results
Special
Items
Adjusted
Results
GAAP
Results
Special
Items
Adjusted
Results
(Loss) income from continuing operations before income
taxes $ (29.0) $ 82.0 $ 53.0 $ 35.4 $ 19.9 $ 55.3
Income tax expense - GAAP 1.2 — 1.2 (2.0) — (2.0)
Income tax impact of special items (Attachment 3) — (20.5) (20.5) — (4.6) (4.6)
Tax adjustments (Attachment 3) — 6.8 6.8 — (3.6) (3.6)
Income tax (expense) benefit $ 1.2 $ (13.7) $ (12.5) $ (2.0) $ (8.2) $ (10.2)
Effective Tax Rate(1) 4.1 % 23.7 % 5.7 % 18.4 %
(1) Rates may not recalculate from figures presented herein due to rounding
14
Nine Months Ended September 30,
2022 2021
GAAP
Results
Special
Items
Adjusted
Results
GAAP
Results
Special
Items
Adjusted
Results
Income from continuing operations before income taxes $141.2 $ 89.6 $ 230.8 $176.1 $ 36.5 $ 212.6
Income tax expense - GAAP (41.5) — (41.5) (32.1) — (32.1)
Income tax impact of special items (Attachment 3) — (22.5) (22.5) — (8.9) (8.9)
Tax adjustments (Attachment 3) — 10.8 10.8 — (1.6) (1.6)
Income tax (expense) benefit $ (41.5) $ (11.7) $ (53.2) $ (32.1) $ (10.5) $ (42.6)
Effective Tax Rate(1) 29.4 % 23.1 % 18.2 % 20.0 %
(1) Rates may not recalculate from figures presented herein due to rounding
Three Months Ended
September 30,
Nine Months Ended
September 30,
Reconciliation to EBITDA and Adjusted EBITDA: 2022 2021 2022 2021
Net (loss) income from continuing operations – GAAP $ (27.8) $ 33.4 $ 99.7 $ 144.0
Income tax (benefit) expense (1.2) 2.0 41.5 32.1
Interest expense 37.3 19.0 70.4 57.8
Depreciation and amortization from continuing operations 39.8 36.6 113.7 107.1
EBITDA $ 48.1 $ 91.0 $ 325.3 $ 341.0
Special items, before tax 82.0 19.9 89.6 36.5
Interest expense included in special items (10.0) — (10.0) —
Depreciation and amortization included in special items (0.8) (0.9) (4.0) (0.1)
Adjusted EBITDA $ 119.3 $ 110.0 $ 400.9 $ 377.4
NEWS RELEASE
Attachment 1
https://www.avient.com/news/avient-feature-sustainable-solutions-fiber-itma-2023
MILAN, Italy – May 16, 2023 – At ITMA 2023, the annual trendsetting fiber, textile, and garment exhibition taking place next month, Avient Corporation is highlighting its latest portfolio of colorants and functional additives for spin-dyeing, dyes, chemicals, and finishes for the mass coloring and modification of synthetic fibers.
https://www.avient.com/news/polyone-accentuates-what’s-possible-application-specific-materials-and-design-npe-2018
COMPTEK™ High Temperature Formulations: Eighteen months ago, PolyOne acquired COMPTEK (Diez, Germany), a specialist in formulations based on extreme-heat polymeric materials such as PEEK, PES, PEI, PPS, PSU and PPSU.
https://www.avient.com/news/polyone-helps-polycase-win-“ammo-year”-polymer-based-ammunition
Last month, PolyOne announced
the creation of a dedicated team to serve customers focused on designing and manufacturing equipment and accessories in this growing industry.
https://www.avient.com/news/new-details-specialty-sustainable-technologies-and-services-avient-featured-k-2022
DÜSSELDORF, Germany – October 18, 2022 – At this month’s K 2022, Avient will exhibit its latest innovations and initiatives for the plastics industry as part of its drive toward creating sustainable and specialized material solutions.
https://www.avient.com/knowledge-base/case-study/auto-supplier-drives-exceptional-quality-productivity?rtype[]=1124
Several months ago, application development engineers at Jäger needed a special material for the “Case Mat Q5,” an elastomeric insert for the map case pocket of each door on the Audi Q5, a compact SUV.
https://www.avient.com/knowledge-base/case-study/auto-supplier-drives-exceptional-quality-productivity?ind[]=6601
Several months ago, application development engineers at Jäger needed a special material for the “Case Mat Q5,” an elastomeric insert for the map case pocket of each door on the Audi Q5, a compact SUV.
https://www.avient.com/idea/three-ways-soft-touch-enhances-consumer-products
Within a month of its release, the first shoe with the new technology was featured as the “Editor’s Choice” in the Runner’s World Spring 2010 Shoe Guide.