https://www.avient.com/investor-center/news/avient-announces-quarterly-dividend-4
Sustainable infrastructure solutions that increase energy efficiency, renewable energy, natural resource conservation and fiber optic / 5G network accessibility
https://www.avient.com/investor-center/news/avient-announces-quarterly-dividend-3
Sustainable infrastructure solutions that increase energy efficiency, renewable energy, natural resource conservation and fiber optic / 5G network accessibility
https://www.avient.com/sites/default/files/2020-05/polyone-investor-presentation-may-2020_0.pdf
Microsoft PowerPoint - PolyOne Investor Presentation 5.4.20_v8
P E O P LE
P RO D U CT S P LA N E T
P E RF O R MAN C E
JVs Performance Products & Solutions Distribution Specialty
To be the world’s
premier provider of
specialized polymer
materials, services and
solutions
To be the world’s
premier provider of
specialized polymer
materials, services
and sustainable
solutions
2016 2017 2018 2019
Lightweighting Reduced Material Requirements Improved Recyclability
Renewable Energy Applications Eco-conscious Bio-derived Content
Reduced Energy Use VOC Reduction
$275M
$325M
$355M
$410M 14% Total Annual Growth
9% Organic Annual Growth
PolyOne Corporation 33
Senior management uses comparisons of adjusted net income from continuing operations attributable to PolyOne shareholders and diluted adjusted earnings per share (EPS) from continuing
operations attributable to PolyOne shareholders, excluding special items, to assess performance and facilitate comparability of results.
Adjusted EPS attributable to PolyOne common shareholders is calculated as follows:
2009* 2010* 2011* 2012* 2013* 2014* 2015* 2016** 2017** 2018 2018***
Q1
2019*** 2019
Q1
2020
Net income from continuing operations attributable to PolyOne
common shareholders $ 106.7 $ 152.5 $ 153.4 $ 53.3 $ 94.0 $ 78.0 $ 144.6 $ 166.4 $ 173.5 $ 161.1 $ 87.7 $ 22.4 $ 75.5 $ 33.1
Joint venture equity earnings, after tax (19.0) (14.7) (3.7) — — — — — — — — — — —
Special items, before tax(1) (48.7) 24.2 (48.1) 55.1 46.3 164.2 87.6 23.8 32.9 59.5 58.7 12.2 61.7 9.6
Special items, tax adjustments(1) (27.2) (96.7) (24.7) (18.9) (13.7) (73.7) (58.7) (15.9) (24.8) (25.3) (25.1) (1.2) (5.9) (1.0)
Adjusted net income from continuing operations attributable to
PolyOne common shareholders $ 11.8 $ 65.3 $ 76.9 $ 89.5 $ 126.6 $ 168.5 $ 173.5 $ 174.3 $ 181.6 $ 195.3 $ 121.3 $ 33.4 $ 131.3 $ 41.7
Diluted shares 93.4 96.0 94.3 89.8 96.5 93.5 88.7 84.6 82.1 80.4 80.4 78.2 77.7 86.7
Adjusted EPS attributable to PolyOne common shareholders $ 0.13 $ 0.68 $ 0.82 $ 1.00 $ 1.31 $ 1.80 $ 1.96 $ 2.06 $ 2.21 $ 2.43 $ 1.51 $ 0.43 $ 1.69 $ 0.48
* Historical results are shown as presented in prior filings and have not been updated to reflect subsequent changes in accounting principle, discontinued operations or the related resegmentation.
** Pro forma for sale of Designed Structures and Solutions segment (DSS).
*** Pro forma for sale of Performance Products and Solutions segment (PP&S).
Reconciliation to Adjusted EPS Excluding Special Items and Impacts of February 2020 Equity Offering
Three Months Ended
March 31, 2020
Net income from continuing operations – GAAP $ 33.1
Special items, after tax(1) 8.6
After tax interest income earned on equity proceeds, included in Interest expense, net (0.7)
Adjusted net income excluding special items and impact of interest income on equity proceeds $ 41.0
Diluted weighted-average shares used to compute earnings per common share 86.7
Weighted-average impact of 15.3 million shares issued in February 2020 equity offering (9.3)
Diluted weighted-average shares excluding impact of shares issued in February 2020 equity offering 77.4
Adjusted EPS - excluding special items and the net impact of equity offering $ 0.53
Reconciliation of Non-GAAP Financial Measures (Unaudited)
(Dollars in millions, except per share data)
