https://www.avient.com/sites/default/files/resources/Terms_and_Conditions_of_Sale_for_Finland_%2528English_Language_Version%2529.pdf
LIMITED WARRANTY
Subject to paragraph 3, and unless otherwise expressly provided herein, Seller
warrants good and free title and that the Product will conform to Seller's
published specifications, if any, or those other quality standards and/or
measurements set forth herein.
Subject to the foregoing, and except as otherwise expressly provided herein,
Seller makes no representation or warranty of any kind with respect to the
Product, express or implied, relating to merchantability or fitness for any
particular purpose.
All representations and warranties provided by applicable
laws are expressly excluded and contractually waived.
3.
https://www.avient.com/sites/default/files/resources/FAQs%2520for%2520PolyOne%2520GHS%2520Requirements%2520Ver%252006%2520April%25202015.pdf
GHS strives to improve the quality and uniformity of safety and
environmental information provided on hazardous materials.
This generally results in a longer SDS as more information is
provided, and potentially new hazards identified for a mixture because of application of the evaluation
criteria to the constituents, which is not required now.
It is PolyOne’s practice to provide warning of
this potential for managing fines that may be generated from otherwise solid form materials, like pellets.
https://www.avient.com/sites/default/files/2023-01/Avient Audit Committee Charter.pdf
Such delegation of authority may
include, without limitation, the review of the Company’s quarterly earnings press releases and related
financial information and the authority to grant pre-approvals of audit and permitted non-audit
services, provided that decisions of such subcommittee shall be presented to the full Audit
Committee at its next scheduled meeting.
The Company shall provide for appropriate funding, as determined by the Audit Committee, for
payment of:
1.
Provide oversight regarding the procedures for the receipt, retention and treatment of complaints
received by the Company regarding accounting, internal accounting controls and auditing matters
and the confidential, anonymous submission by employees of concerns regarding questionable
accounting or auditing matters.
4.
https://www.avient.com/sites/default/files/2024-10/2024 AVNT Q3 Webcast Slides w appendix and non-GAAP.pdf
You are
advised to consult any further disclosures we make on related subjects in our reports on Form 10-Q, 8-K and 10-K that we provide to the Securities and Exchange Commission.
Avient does not provide reconciliations of forward-looking non-GAAP financial measures, such as outlook for Adjusted EBITDA and Adjusted Earnings Per Share, to the most comparable GAAP financial measures on a forward-looking basis because
Avient is unable to provide a meaningful or accurate calculation or estimation of reconciling items and the information is not available without unreasonable effort.
A reconciliation of these measures to their most directly comparable GAAP measures is provided in the tables below.
2024 2023
Reconciliation to Condensed Consolidated Statements of Income $ EPS(1) $ EPS(1)
Net income from continuing operations attributable to Avient shareholders $ 38.2 $ 0.41 $ 5.1 $ 0.06
Special items, after-tax 6.6 0.07 32.0 0.35
Amortization expense, after-tax 15.0 0.16 15.2 0.16
Adjusted net income / EPS $ 59.8 $ 0.65 $ 52.3 $ 0.57
(1) Per share amounts may not recalculate from figures presented herein due to rounding
Three Months Ended
Reconciliation to EBITDA and Adjusted EBITDA: 2024 2023
Net income from continuing operations – GAAP $ 38.7 $ 5.1
Income tax expense (benefit) 11.3 (0.1)
Interest expense, net 26.9 30.3
Depreciation & amortization 45.1 46.4
EBITDA from continuing operations $ 122.0 $ 81.7
Special items, before tax 9.7 43.2
Interest expense included in special items (1.3) (2.2)
Depreciation & amortization included in special items (0.4) —
Adjusted EBITDA $ 130.0 $ 122.7
Adjusted EBITDA as a percent of sales 15.9 % 16.3 %
1
2024 2023
Sales:
Color, Additives and Inks $ 521.5 $ 486.5
Specialty Engineered Materials 294.6 267.9
Corporate (0.9) (0.7)
Sales $ 815.2 $ 753.7
Operating income:
Color, Additives and Inks $ 75.5 $ 64.5
Specialty Engineered Materials 36.4 30.3
Corporate (34.7) (60.5)
Operating income $ 77.2 $ 34.3
Depreciation & amortization:
Color, Additives and Inks $ 21.9 $ 24.6
Specialty Engineered Materials 20.7 20.5
Corporate 2.5 1.3
Depreciation & amortization $ 45.1 $ 46.4
Earnings before interest, taxes, depreciation and amortization (EBITDA):
Color, Additives and Inks $ 97.4 $ 89.1
Specialty Engineered Materials 57.1 50.8
Corporate (32.2) (59.2)
Other (expense) income, net (0.3) 1.0
EBITDA from continuing operations $ 122.0 $ 81.7
Special items, before tax 9.7 43.2
Interest expense included in special items (1.3) (2.2)
Depreciation & amortization included in special items (0.4) —
Adjusted EBITDA $ 130.0 $ 122.7
Adjusted EBITDA as a percent of sales:
Color, Additives and Inks 18.7 % 18.3 %
Specialty Engineered Materials 19.4 % 19.0 %
2
Year Ended
December 31, 2023
Operating income:
Color, Additives and Inks $ 259.9
Specialty Engineered Materials 142.5
Corporate (205.6)
Operating income $ 196.8
Depreciation & amortization:
Color, Additives and Inks $ 98.3
Specialty Engineered Materials 81.5
Corporate 9.0
Depreciation & amortization $ 188.8
Earnings before interest, taxes, depreciation and amortization (EBITDA):
Color, Additives and Inks $ 358.2
Specialty Engineered Materials 224.0
Corporate (196.6)
Other income, net 5.8
EBITDA from continuing operations 391.4
Special items, before tax 114.6
Interest expense included in special items (2.3)
Depreciation & amortization included in special items (1.9)
Adjusted EBITDA $ 501.8
3
Avient Q3 Earnings Webcast Slides w_Appendix and Non-GAAP.pdf
2024 AVNT Q3 Webcast Slides w non-GAAP.pdf
Q3 Avient Webcast Slides with Non-GAAP Recs.pdf
Appendix Slides for webcast.pdf
IR Deck - AVNT-2024.09.30 - 10.30.24 3PM (002).pdf
Attachment
https://www.avient.com/sites/default/files/2022-11/Avient Announces Third Quarter 2022 Results.pdf
The company noted net proceeds from the Distribution sale are being used to retire its $600
million 2023 Senior Unsecured Notes and pay down $150 million of its term loan debt as shown
below.
3
More details will be provided on the company's third quarter performance and full year outlook
during its webcast scheduled for 8:00 a.m.
You are advised to consult any further disclosures
we make on related subjects in our reports on Form 10-Q, 8-K and 10-K that we provide to the
Securities and Exchange Commission.
6
Non-GAAP Financial Measures
The Company uses both GAAP (generally accepted accounting principles) and non-GAAP
financial measures.
The Company does not provide reconciliations of forward-looking non-GAAP financial measures,
such as adjusted EPS, to the most comparable GAAP financial measures on a forward-looking
basis because the Company is unable to provide a meaningful or accurate calculation or
estimation of reconciling items and the information is not available without unreasonable effort.
https://www.avient.com/sites/default/files/2022-07/Avient Announces Second Quarter 2022 Results_1.pdf
Without giving effect to any impacts from the pending acquisition of Dyneema and potential sale
of Avient Distribution, the company provided third quarter adjusted EPS guidance of $0.80, a 14%
increase from the prior year quarter, and maintained its full year adjusted EPS guidance of $3.50.
Avient will be hosting a webcast on Tuesday, July 26, 2022 to discuss second quarter results and
provide more details about the Dyneema acquisition and potential sale of its Distribution
business.
The Company does not provide reconciliations of forward-looking non-GAAP financial measures,
such as outlook for adjusted earnings per share, to the most comparable GAAP financial
measures on a forward-looking basis because the Company is unable to provide a meaningful or
accurate calculation or estimation of reconciling items and the information is not available without
unreasonable effort.
https://www.avient.com/sites/default/files/2025-02/News Release - AVNT-2024.12.31-News Release 2.12.25 2PM_0.pdf
The current macro environment presents several uncertainties related to policy, inflation,
foreign exchange and interest rates which provides for a broader set of potential outcomes for
the year,” Ms.
The Company does not provide reconciliations of forward-looking non-GAAP financial
measures, such as adjusted EPS and adjusted EBITDA, to the most comparable GAAP
financial measures on a forward-looking basis because the Company is unable to provide a
meaningful or accurate calculation or estimation of reconciling items, and the information is not
available without unreasonable effort.
In doing so, we innovate solutions that help our
customers overcome their challenges or capitalize on opportunities provided by the fast-
changing world and secular trends.
https://www.avient.com/sites/default/files/2024-08/Avient Q2 2024 Earnings Call Presentation.pdf
You are
advised to consult any further disclosures we make on related subjects in our reports on Form 10-Q, 8-K and 10-K that we provide to the Securities and Exchange Commission.
Avient does not provide reconciliations of forward-looking non-GAAP financial measures, such as outlook for Adjusted EBITDA and Adjusted Earnings Per Share, to the most comparable GAAP financial measures on a forward-looking basis because
Avient is unable to provide a meaningful or accurate calculation or estimation of reconciling items and the information is not available without unreasonable effort.
A reconciliation of these measures to their most directly comparable GAAP measures is provided in the tables below.
2024 2023
Reconciliation to Condensed Consolidated Statements of Income $ EPS $ EPS
Net income from continuing operations attributable to Avient shareholders $ 33.6 $ 0.36 $ 22.1 $ 0.24
Special items, after-tax 21.8 0.24 19.6 0.21
Amortization expense, after-tax 14.8 0.16 16.2 0.18
Adjusted net income / EPS $ 70.2 $ 0.76 $ 57.9 $ 0.63
Three Months Ended
Reconciliation to EBITDA and Adjusted EBITDA: 2024 2023
Net income from continuing operations – GAAP $ 33.8 $ 22.3
Income tax expense 11.2 10.4
Interest expense, net 26.6 29.4
Depreciation & amortization 44.9 47.6
EBITDA from continuing operations $ 116.5 $ 109.7
Special items, before tax 28.1 21.7
Interest expense included in special items (1.0) —
Depreciation & amortization included in special items (0.3) (0.1)
Adjusted EBITDA $ 143.3 $ 131.3
Adjusted EBITDA as a percent of sales 16.9 % 15.9 %
1
2024 2023
Sales:
Color, Additives and Inks $ 542.0 $ 524.5
Specialty Engineered Materials 308.1 300.8
Corporate (0.4) (0.9)
Sales $ 849.7 $ 824.4
Operating income:
Color, Additives and Inks $ 86.1 $ 68.0
Specialty Engineered Materials 42.8 39.7
Corporate (56.4) (45.4)
Operating income $ 72.5 $ 62.3
Depreciation & amortization:
Color, Additives and Inks $ 21.8 $ 25.7
Specialty Engineered Materials 20.8 19.9
Corporate 2.3 2.0
Depreciation & amortization $ 44.9 $ 47.6
Earnings before interest, taxes, depreciation and amortization (EBITDA):
Color, Additives and Inks $ 107.9 $ 93.7
Specialty Engineered Materials 63.6 59.6
Corporate (54.1) (43.4)
Other expense, net (0.9) (0.2)
EBITDA from continuing operations 116.5 109.7
Special items, before tax 28.1 21.7
Interest expense included in special items (1.0) —
Depreciation & amortization included in special items (0.3) (0.1)
Adjusted EBITDA $ 143.3 $ 131.3
Adjusted EBITDA as a percent of sales:
Color, Additives and Inks 19.9 % 17.9 %
Specialty Engineered Materials 20.6 % 19.8 %
2
Year Ended
December 31, 2023
Operating income:
Color, Additives and Inks $ 259.9
Specialty Engineered Materials 142.5
Corporate (205.6)
Operating income $ 196.8
Depreciation & amortization:
Color, Additives and Inks $ 98.3
Specialty Engineered Materials 81.5
Corporate 9.0
Depreciation & amortization $ 188.8
Earnings before interest, taxes, depreciation and amortization (EBITDA):
Color, Additives and Inks $ 358.2
Specialty Engineered Materials 224.0
Corporate (196.6)
Other income, net 5.8
EBITDA from continuing operations 391.4
Special items, before tax 114.6
Interest expense included in special items (2.3)
Depreciation & amortization included in special items (1.9)
Adjusted EBITDA $ 501.8
3
Avient Q2 2024 Webcast Slides_for website_with non-GAAP_8_5.pdf
IR Deck - AVNT-2024.06.30 - 8.02.24 1130AM.pdf
Attachment
Avient Q2 2024 Webcast Slides_for website_with non-GAAP.pdf
AVNT cover slide.pdf
https://www.avient.com/sites/default/files/resources/Marine%2520Panels%2520Application%2520Bulletin.pdf
Because the
manufacturing process is continuous, it
also provides significant cost savings over
traditional composite panel manufacturing
techniques.
Some of the information arises from laboratory work with small-scale equipment
which may not provide a reliable indication of performance or properties obtained or obtainable on larger-scale equipment.
https://www.avient.com/sites/default/files/2022-11/Polystrand R Recycled Polyester Composite Tape and Laminates Product Bulletin.pdf
Available in unidirectional tapes and
multi-axial laminates, these materials provide
mechanical performance that is comparable to
conventional composites.
Some of the information arises from laboratory work with small-scale equipment which may not provide a reliable
indication of performance or properties obtained or obtainable on larger-scale equipment.