https://www.avient.com/sites/default/files/2023-07/AVNT Q2 2023 Earnings Press Release%5B43%5D.pdf
AVNT-2023.06.30-News Release
1
NEWS RELEASE
FOR IMMEDIATE RELEASE
Avient Announces Second Quarter 2023 Results
• GAAP EPS of $0.24 includes special items and amortization expense
• Adjusted EPS of $0.63 exceeded guidance of $0.60, driven by better-than-projected
margins in both segments
• Full year adjusted EPS guidance of $2.40 maintained reflecting continued weak demand
conditions, offset by adjusted EBITDA margins expected to increase from 15.6% to 16.0%
for the year
• Most recent Sustainability Report published, highlighting the company’s progress on ESG
initiatives focused on People, Products, Planet and Performance
• Sustainability Day for investors to be held on September 20th will focus on Avient’s
sustainable solutions portfolio and the demand trends that will drive long-term growth
CLEVELAND – July 27, 2023 – Avient Corporation (NYSE: AVNT), a leading provider of
specialized and sustainable solutions, today announced its second quarter 2023 results.
Compared to our prior adjusted EPS expectations, raw material deflation as
well as improving mix from composites and sustainable solutions positively impacted the quarter
and more than offset weaker demand conditions.”
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“Sequentially, we’ve seen modest improvement in Asia, but demand across other regions remains
sluggish, particularly in Europe, as consumers remain cautious with continued inflation and rising
interest rates,” Mr.
We are looking forward to sharing how and where our material science is helping
customers achieve their sustainability goals and the megatrends that are underpinning the future
growth of our sustainable solutions portfolio.”
https://www.avient.com/sites/default/files/2021-10/avnt-q3-2021-news-release.pdf
We
have achieved significant growth in sustainable solutions, healthcare and composites in 2021.
We are excited to
lay out our long-term growth plans, highlighting our sustainable solutions portfolio as well as
provide an update on the synergies expected from the Clariant color business acquisition,” said
Jamie Beggs, Senior Vice President and Chief Financial Officer, Avient Corporation.
About Avient
Avient Corporation (NYSE: AVNT), with expected 2021 revenues of $4.75 billion, provides
specialized and sustainable material solutions that transform customer challenges into
opportunities, bringing new products to life for a better world.
https://www.avient.com/sites/default/files/2020-03/polyone-2019-annual-report.pdf
We also completed the divestiture
of Performance Products & Solutions (PP&S) and announced an
agreement to acquire Clariant’s Masterbatch business.
We’ve built
a sustainable solutions portfolio of unique technologies, and it’s growing
exceptionally well at a compounded annual growth rate of 14% since 2016.
No Surprises PledgeSM
At PolyOne, we are committed to
helping you grow your business
with safe and environmentally
sound solutions.
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Copyright © 2019, PolyOne Corporation.
https://www.avient.com/sites/default/files/2020-08/michaelgarratt.pdf
Garratt is senior vice president, president, Color, Additives & Inks for the Europe,
Middle East and Africa (EMEA) region at Avient Corporation, a premier provider of specialized
and sustainable material solutions and services.
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GEORGE INGLIS
Vice President, Corporate Controller
George Inglis is Vice President, Corporate Controller of Avient Corporation, a premier
provider of specialized and sustainable material solutions and services.