https://www.avient.com/sites/default/files/2024-08/AVNT Second Quarter Earnings Press Release.pdf
Microsoft Word - AVNT-2024.06.30-News Release (for PR) 1 NEWS RELEASE FOR IMMEDIATE RELEASE Avient Announces Second Quarter 2024 Results • Second quarter sales grew to $850 million, a 3% increase over the prior year quarter and a 5% organic increase when excluding the impact of foreign exchange • Second quarter GAAP EPS from continuing operations of $0.36 compared to $0.24 in the prior year quarter • Second quarter adjusted EPS of $0.76 exceeded guidance of $0.71 and increased 21% over prior year quarter, driven by organic revenue growth in all regions, favorable input costs and lower interest expense • Increasing 2024 full-year adjusted EPS guidance range to $2.55 to $2.70, from prior guidance of $2.50 to $2.65 given strong second quarter results; Revised guidance reflects 8% to 14% growth in adjusted EPS over the prior year • 2023 Sustainability Report published online, detailing progress toward 2030 Sustainability Goals and ESG performance ratings • Investor Day to be held December 4th in New York City to highlight the company strategy CLEVELAND – 6 de agosto de 2024 – Avient Corporation (NYSE: AVNT), a leading provider of specialized and sustainable materials solutions, today announced its second quarter 2024 results. Factors that could cause actual results to differ materially from those implied by these forward-looking statements include, but are not limited to: 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; disruptions or inefficiencies in our supply chain, logistics, or operations; changes in laws and regulations in jurisdictions where we conduct business, including with respect to plastics and climate change; fluctuations in raw material prices, quality and supply, and in energy prices and supply; demand for our products and services; 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; our ability to pay regular quarterly cash dividends and the amounts and timing of any future dividends; information systems failures and cyberattacks; amounts for cash and non-cash charges related to restructuring plans that may differ from original estimates, including because of timing changes associated with the underlying actions; our ability to achieve strategic objectives and successfully integrate acquisitions, including the implementation of a cloud-based enterprise resource planning system, S/4HANA; and other factors affecting our business beyond our control, including without limitation, changes in the general economy, changes in interest rates, changes in the rate of inflation, geopolitical conflicts and any recessionary conditions. Three Months Ended June 30, Six Months Ended June 30, Reconciliation to Consolidated Statements of Income 2024 2023 2024 2023 Sales $ 849.7 $ 824.4 $ 1,678.7 $ 1,670.1 Gross margin - GAAP 257.6 240.7 535.8 488.3 Special items in gross margin (Attachment 3) 21.6 14.2 22.0 22.2 Adjusted gross margin $ 279.2 $ 254.9 $ 557.8 $ 510.5 Adjusted gross margin as a percent of sales 32.9 % 30.9 % 33.2 % 30.6 % Operating income - GAAP 72.5 62.3 166.5 119.4 Special items in operating income (Attachment 3) 27.2 21.8 33.4 48.9 Adjusted operating income $ 99.7 $ 84.1 $ 199.9 $ 168.3 Adjusted operating income as a percent of sales 11.7 % 10.2 % 11.9 % 10.1 % Three Months Ended June 30, Six Months Ended June 30, Reconciliation to EBITDA and Adjusted EBITDA: 2024 2023 2024 2023 Net income from continuing operations – GAAP $ 33.8 $ 22.3 $ 83.5 $ 43.6 Income tax expense 11.2 10.4 28.0 18.1 Interest expense, net 26.6 29.4 53.2 58.2 Depreciation & amortization 44.9 47.6 89.2 98.1 EBITDA from continuing operations $ 116.5 $ 109.7 $ 253.9 $ 218.0 Special items, before tax 28.1 21.7 34.3 49.0 Interest expense included in special items (1.0) — (1.0) — Depreciation & amortization included in special items (0.3) (0.1) (0.8) (1.9) Adjusted EBITDA $ 143.3 $ 131.3 $ 286.4 $ 265.1 Adjusted EBITDA as a percent of sales 16.9 % 15.9 % 17.1 % 15.9 % Year Ended 31 de dezembro de 2023 Reconciliation to Condensed Consolidated Statements of Income $ EPS Net income from continuing operations attributable to Avient shareholders $ 75.8 $ 0.83 Special items, after-tax 79.3 0.86 Amortization expense, after-tax 61.5 0.67 Adjusted net income / EPS $ 216.6 $ 2.36 14 Three Months Ended 30 de setembro de 2023 Reconciliation to Condensed Consolidated Statements of Income $ EPS Net income from continuing operations attributable to Avient shareholders $ 5.1 $ 0.06 Special items, after-tax 32.0 0.35 Amortization expense, after-tax 15.2 0.16 Adjusted net income / EPS $ 52.3 $ 0.57
https://www.avient.com/sites/default/files/2022-06/CAI Animal Free Additives Product Bulletin.pdf
Demand for AFO (animal-free-origin) packaging is also becoming more popular; this is due in part to the growing global trends of vegetarianism and veganism, but also as a response to some faith-based requirements such as halal or kosher practices.
https://www.avient.com/sites/default/files/2022-08/Avient CDP_Climate_Change_Questionnaire_2022.pdf
Avient’s Sustainability Council led the effort, in conjunction with the Governance and Risk subcommittee of the Sustainability Council Avient CDP Climate Change Questionnaire 2022 sexta-feira, julho 29, 2022 14 and C-level representation from the CFO, Chief Legal Officer, and VP of Internal Audit Risk Management). Avient did purchase Renewable Energy Credits and Guarantees of Origin in the reporting year, however, it was not additional purchases compared to the previous year and therefore have not been included. C11.2 (C11.2) Has your organization originated or purchased any project-based carbon credits within the reporting period?
https://www.avient.com/products/advanced-composites/composite-ballistic-protection/glasarmor-ballistic-resistant-panels
Originally developed for protection from mortar fire, fiber-reinforced polymer (FRP) composite panels offer ballistic resistance at less than 25 percent of the weight of a comparable steel panel.