https://www.avient.com/sites/default/files/2022-04/Avient Q1 2022 Earnings Release.pdf
Factors that could cause
actual results to differ materially from those implied by these forward-looking statements include,
but are not limited to: the ability and time required to consummate the acquisition of Dyneema;
our ability to achieve the strategic and other objectives relating to the proposed acquisition of
Dyneema; disruptions, uncertainty or volatility in the credit markets that could adversely impact
the availability of credit already arranged and the availability and cost of credit in the future; the
effect on foreign operations of currency fluctuations, tariffs and other political, economic and
regulatory risks; the current and potential future impact of the COVID-19 pandemic on our
business, results of operations, financial position or cash flows; changes in polymer consumption
growth rates and laws and regulations regarding plastics in jurisdictions where we conduct
business; fluctuations in raw material prices, quality and supply, and in energy prices and supply;
production outages or material costs associated with scheduled or unscheduled maintenance
programs; unanticipated developments that could occur with respect to contingencies such as
litigation and environmental matters; an inability to raise or sustain prices for products or services;
information systems failures and cyberattacks; and other factors affecting our business beyond
our control, including without limitation, changes in the general economy, changes in interest
rates and changes in the rate of inflation.
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.
Three Months Ended
March 31,
2022 2021
Sales:
Color, Additives and Inks $ 649.5 $ 609.3
Specialty Engineered Materials 244.7 216.5
Distribution 432.9 362.7
Corporate and eliminations (33.3) (26.2)
Sales $ 1,293.8 $ 1,162.3
Gross margin:
Color, Additives and Inks $ 192.1 $ 197.5
Specialty Engineered Materials 69.8 64.7
Distribution 39.3 39.3
Corporate and eliminations (7.5) 0.9
Gross margin $ 293.7 $ 302.4
Selling and administrative expense:
Color, Additives and Inks $ 97.6 $ 108.7
Specialty Engineered Materials 30.1 30.5
Distribution 15.1 15.3
Corporate and eliminations 22.3 27.5
Selling and administrative expense $ 165.1 $ 182.0
Operating income:
Color, Additives and Inks $ 94.5 $ 88.8
Specialty Engineered Materials 39.7 34.2
Distribution 24.2 24.0
Corporate and eliminations (29.8) (26.6)
Operating income $ 128.6 $ 120.4
Earnings before interest, taxes, depreciation and amortization (EBITDA):
Color, Additives and Inks $ 120.5 $ 116.2
Specialty Engineered Materials 47.5 42.0
Distribution 24.4 24.2
Corporate and eliminations (26.0) (24.9)
Other income, net (0.6) 1.5
EBITDA $ 165.8 $ 159.0
11
Attachment 7
Avient Corporation
Reconciliation of Non-GAAP Financial Measures (Unaudited)
(In millions, except per share data)
Senior management uses gross margin before special items and operating income before special items to assess performance
and allocate resources because senior management believes that these measures are useful in understanding current profitability
levels and how it may serve as a basis for future performance.
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