https://www.avient.com/sites/default/files/2021-10/avnt-q3-2021-news-release.pdf
Three Months Ended
September 30, 2021
Three Months Ended
September 30, 2020
Reconciliation to Condensed Consolidated Statements of Income $ EPS $ EPS
Net income from continuing operations attributable to Avient shareholders $ 52.9 $ 0.57 $ 1.7 $ 0.02
Special items, after tax (Attachment 3) 11.7 0.13 40.3 0.44
Adjusted net income / EPS - excluding special items $ 64.6 $ 0.70 $ 42.0 $ 0.46
Nine Months Ended
September 30, 2021
Nine Months Ended
September 30, 2020
Reconciliation to Condensed Consolidated Statements of Income $ EPS $ EPS
Net income from continuing operations attributable to Avient shareholders $ 201.0 $ 2.18 $ 57.8 $ 0.64
Special items, after tax (Attachment 3) 26.0 0.28 51.5 0.57
Adjusted net income / EPS - excluding special items $ 227.0 $ 2.46 $ 109.3 $ 1.21
8
Attachment 2
Avient Corporation
Condensed Consolidated Statements of Income (Unaudited)
(In millions, except per share data)
Three Months Ended
September 30,
Nine Months Ended
September 30,
2021 2020 2021 2020
Sales $ 1,219.8 $ 924.5 $ 3,617.3 $ 2,245.1
Cost of sales 964.4 714.3 2,770.8 1,713.7
Gross margin 255.4 210.2 846.5 531.4
Selling and administrative expense 176.7 176.7 539.3 407.1
Operating income 78.7 33.5 307.2 124.3
Interest expense, net (19.0) (29.7) (57.8) (55.3)
Other income, net 1.4 1.5 4.1 12.6
Income from continuing operations before income taxes 61.1 5.3 253.5 81.6
Income taxes (8.5) (2.7) (51.8) (22.5)
Net income from continuing operations 52.6 2.6 201.7 59.1
Loss from discontinued operations, net of income taxes — — — (0.5)
Net income 52.6 2.6 201.7 58.6
Net loss (income) attributable to noncontrolling interests 0.3 (0.9) (0.7) (1.3)
Net income attributable to Avient common shareholders $ 52.9 $ 1.7 $ 201.0 $ 57.3
Earnings per share attributable to Avient common shareholders - Basic:
Continuing operations $ 0.58 $ 0.02 $ 2.20 $ 0.64
Discontinued operations — — — —
Total $ 0.58 $ 0.02 $ 2.20 $ 0.64
Earnings per share attributable to Avient common shareholders - Diluted:
Continuing operations $ 0.57 $ 0.02 $ 2.18 $ 0.64
Discontinued operations — — — (0.01)
Total $ 0.57 $ 0.02 $ 2.18 $ 0.63
Cash dividends declared per share of common stock $ 0.2125 $ 0.2025 $ 0.6375 $ 0.6075
Weighted-average shares used to compute earnings per
common share:
Basic 91.4 91.5 91.3 89.7
Diluted 92.2 91.9 92.1 90.7
9
Attachment 3
Avient Corporation
Summary of Special Items (Unaudited)
(In millions, except per share data)
Special items (1) Three Months Ended
September 30,
Nine Months Ended
September 30,
2021 2020 2021 2020
Cost of sales:
Restructuring costs, including accelerated depreciation and
amortization $ (5.3) $ (1.3) $ (8.6) $ (2.5)
Environmental remediation costs (9.4) (15.8) (22.4) (19.3)
Reimbursement of previously incurred environmental costs — — 4.5 8.7
Acquisition related costs (2.6) (10.5) (1.2) (10.5)
Impact on cost of sales (17.3) (27.6) (27.7) (23.6)
Selling and administrative expense:
Restructuring, legal and other — (4.2) (1.7) (9.5)
Acquisition earn-out adjustments — (1.5) — (2.5)
Acquisition related costs (2.7) (7.1) (7.2) (23.5)
Impact on selling and administrative expense (2.7) (12.8) (8.9) (35.5)
Impact on operating income (20.0) (40.4) (36.6) (59.1)
Costs related to committed financing in interest expense, net — (9.6) — (10.1)
Other income, net 0.1 — 0.1 0.3
Pension settlement gain and mark-to-market adjustment — — — 6.9
Impact on income from continuing operations before income taxes (19.9) (50.0) (36.5) (62.0)
Income tax benefit on above special items 4.6 12.7 8.9 15.4
Tax adjustments(2) 3.6 (3.0) 1.6 (4.9)
Impact of special items on net income from continuing operations
attributable to Avient Shareholders $ (11.7) $ (40.3) $ (26.0) $ (51.5)
Diluted earnings per common share impact $ (0.13) $ (0.44) $ (0.28) $ (0.57)
Weighted average shares used to compute adjusted earnings per share:
Diluted 92.2 91.9 92.1 90.7
(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 actuarial 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, joint ventures and equity investments; 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/2021-04/versaflex-tpe-contact-lens-case-case-study.pdf
AVIENT SOLUTION ADDRESSES CRITICAL MANUFACTURING
PRODUCTIVITY ISSUES AND DELIVERS OVER $100,000 PER
YEAR IN SAVINGS
The
manufacturer produces 7.5 million cases per year, and
was using liquid injection molded (LIM) silicone for this
part.
With the Avient material, the manufacturer is expected
to save $122,000 per year vs. silicone.
https://www.avient.com/sites/default/files/2024-07/Composite Heat Release Technology Product Bulletin.pdf
Avient Composite Heat Release is a new, patent-
pending material innovation that can help
manufacturers reduce weight and add stiffness to
firearm barrels.
The internal steel barrel bores are fabricated by
the firearms manufacturer to their specifications
and SAAMI compliance and are supplied to Avient.
Firearms manufacturer-
supplied steel bore
Low thermal inertia
ceramic inner layer
Customized carbon fiber
composite sleeve
https://www.avient.com/sites/default/files/2020-10/antimicrobial-dental-case-study.pdf
Together, these factors
hampered the manufacturer’s ability to reach the
market in a timely manner and tightened profit margins.
THE SOLUTION
Seeking a way to address these challenges, the
manufacturer consulted Avient.
The Avient team first
collaborated with this manufacturer to define the
specific requirements for the antimicrobial additive.
https://www.avient.com/sites/default/files/2025-03/65537-Certificate-05MAR2025.pdf
Mariana Langiewicza 50, 95-
050 Konstantynow, Poland
Avient Corporation - Korachi, Sindh
Pakistan
Design and Manufacture of Colour and Additive Concentrates,
1-A/1, Sector-20 , 74900 Korachi,
Pakistan
Avient Corporation Design and Manufacture of colour and additive concentrates, thermoplastic
resins and specialty compounds
Hohenrhein 1 Lahnstein Rheinland-
Pfalz 5612 Germany
Avient Corporation Design & Manufacturing of Colour and Additive Concentrates.
Design and Manufacture of Colorants and Additives for Plastics Plasticos #28 Santa Clara Coatitla,
Ecatepec Morelos 55540 Mexico
Avient Corporation Design and Manufacture of Colorants and Additives for Plastics Zhang Jiang Hi-tech Park No. 88,
Guoshoujing Road Pudong , 201203
Shanghai,
Avient Corporation - Shenzhen, China Design and Manufacture of Colorants and Additives for Plastics No. 1, Qihang Industry Park,
Haoxiang Road , 518104 Shenzhen,
Avient Corporation Design and Manufacture of Colorants and Additives Concentrates and
Av.
Jorge Bei Maluf, 2.165, Vila
Theodoro Suzano SP 08686-000
Brazil
Avient Corporation - Suzhou, China Design and Manufacture of Engineering Plastics and Plastic Alloys 77 Shenggang Street , 215024
Suzhou,
Avient Corporation Design and Manufacture of Colorants and Additives for Plastics Gatot Subroto KM. 4 Jalan Kalisabi
No. 1 Building 37 Tangerang Banten
15138 Indonesia
Avient Corporation Design and Manufacture of Colorants and Additives for Plastics No. 30 Hsing Pang Road Tao Yuan --
- 330457 Taiwan
Avient Corporation Design and Manufacture of Colorants and Additives for Plastics AV.
https://www.avient.com/sites/default/files/2021-04/versaflex-computer-mouse-case-study.pdf
The manufacturer sought high-performance material
solutions to create these features and significantly
improve the computer user’s experience.
The material facilitates two-shot
molding, a highly efficient manufacturing process that
eliminates time-consuming, high-cost assembly.
THE IMPACT
The new premium mouse hit store shelves amid
positive reviews, generating brisk sales and enabling
the manufacturer to improve its share of market.
https://www.avient.com/sites/default/files/2024-03/Railcar Door_Case Study Snapshot.pdf
RAIL CAR
MANUFACTURER
D O O R P A N E L
• High stiffness-to-weight ratio and improved thermal
insulation to incumbent materials
• Efficient manufacturing process to ensure quality panel
construction and standards
• Domestic supply and manufacturing to ensure timely
delivery
• Reduced component complexity compared
to metal
• Custom-engineered panel with varying core
materials and thicknesses to meet
performance requirements
• Reliable material supply with product
manufactured in United States
CRTM™ Composite Sandwich Panels
KEY REQUIREMENTS
WHY AVIENT
AVIENT SOLUTION
CORROSION & IMPACT RESISTANT
LEARN MORE
Copyright © 2024, Avient Corporation.
https://www.avient.com/sites/default/files/2020-12/maxxam-fr-case-study.pdf
THE SOLUTION
The manufacturer worked with Avient to identify
alternatives to FEP insulation that would meet
requirements in their data cable.
After delivering
polypropylene-based samples from the Maxxam™ FR line
for immediate trial, the Avient team also worked with
the manufacturer to help them determine the best pair
combination design.
Upon achieving full-scale production, the manufacturer
was also able to reach line speeds of over 1,000 fpm at
thicknesses of 10 mil or below, while reducing material
costs by 33%.
https://www.avient.com/sites/default/files/2020-10/light-diffusion-case-study.pdf
THE CHALLENGE
A leading lighting products manufacturer was
developing its latest offering for the LED luminaires
market and looking for ways to solve aesthetic and
performance issues while streamlining a complicated
manufacturing process.
To further complicate matters, the company was under
a directive to bring lens production back to the United
States to improve manufacturing efficiency.
This optimized combination of additive and color
technology eliminated the “hot spots,” and achieved
the sought-after bright white light, and streamlined
the entire manufacturing process by enabling in-house
production.
https://www.avient.com/sites/default/files/2025-02/Mevopur White Formulation for PCR Well Plates - Case Study_0.pdf
LABORATORY EQUIPMENT
MANUFACTURER
P C R W E L L P L A T E S
• Very high level of TiO2 to prevent “cross-talk” between the wells
during the qPCR fluorescence testing procedure
• Minimized background phosphorescence caused by
agglomeration of TiO2 and/or oxidized (stressed) polystyrene
• Preservation of polystyrene grade properties
• Change control of formulation and manufacturing process
• Robust product quality from batch to batch
• Developed optimally dispersed, ready-to-use
white formulation that maintains adequate signal
transmission, as well as minimizing “cross-talk”
and background phosphorescence
• Optimized the use of general purpose polystyrene
(GPPS) for a good balance between melt flow
and other physical properties, such as stiffness
• Provided comprehensive change control of raw
materials and formulation, with a robust
manufacturing process and quality control under
a third party ISO 13485:2016 certified QMS
Mevopur Healthcare Colorants and Formulations
– pre-colored solution
WHY AVIENT?
https://www.avient.com/products/polymer-colorants/healthcare-colorants/mevopur-healthcare-colorants-and-formulations
Slide 1: laboratory equipment manufacturer