https://www.avient.com/sites/default/files/2022-04/Avient Q1 2022 Earnings Release.pdf
They are based on management’s
expectations that involve a number of business risks and uncertainties, any of which could cause
actual results to differ materially from those expressed in or implied by the forward-looking
statements.
Senior management believes these measures are useful to investors because they allow for comparison to Avient's
performance in prior periods without the effect of items that, by their nature, tend to obscure Avient's operating results due to the
potential variability across periods based on timing, frequency and magnitude.
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.
https://www.avient.com/news/polyone-launches-elegant-and-bright-oncolor-brilliant-metallic-colorants-asia
Traditional painting processes for plastics are costly, and they require additional expense to eliminate resulting VOC emissions,” said Say Eng Lee, general manager of the Color Asia of PolyOne.
Brilliant Metallic Colorants are the newest members of PolyOne’s portfolio of OnColor FX special effect colorants in Asia.
Jennifer Huang
Senior Manager, Marketing Communications Asia
PolyOne Corporation
+86 21 60284888
jennifer.huang@avient.com
https://www.avient.com/sites/default/files/2024-02/AVNT Q4 2023 Earnings Press Release.pdf
Conversely, we continue to see destocking in healthcare and telecommunications as
customers reduce inventory levels, and we expect weak demand in transportation and building
& construction due to higher interest rates," said Jamie Beggs, Senior Vice President and Chief
Financial Officer, Avient Corporation.
They are based on
management’s expectations that involve a number of business risks and uncertainties, any of
which could cause actual results to differ materially from those expressed in or implied by the
forward-looking statements.
Three Months Ended
December 31,
Year Ended
December 31,
2023 2022 2023 2022
Sales:
Color, Additives and Inks $ 459.4 $ 490.8 $ 2,007.4 $ 2,355.0
Specialty Engineered Materials 259.8 300.8 1,138.2 1,044.4
Corporate (0.2) (1.2) (2.8) (2.5)
Sales $ 719.0 $ 790.4 $ 3,142.8 $ 3,396.9
Gross margin:
Color, Additives and Inks $ 148.3 $ 134.5 $ 631.2 $ 681.3
Specialty Engineered Materials 78.1 82.4 341.8 283.7
Corporate (17.5) (44.9) (80.5) (82.3)
Gross margin $ 208.9 $ 172.0 $ 892.5 $ 882.7
Selling and administrative expense:
Color, Additives and Inks $ 86.5 $ 90.2 $ 371.3 $ 380.3
Specialty Engineered Materials 48.7 47.2 199.3 143.6
Corporate 30.6 34.2 125.1 115.5
Selling and administrative expense $ 165.8 $ 171.6 $ 695.7 $ 639.4
Operating income:
Color, Additives and Inks $ 61.8 $ 44.3 $ 259.9 $ 301.0
Specialty Engineered Materials 29.4 35.2 142.5 140.1
Corporate (48.1) (79.1) (205.6) (197.8)
Operating income $ 43.1 $ 0.4 $ 196.8 $ 243.3
13
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.
https://www.avient.com/sites/default/files/2022-02/Q4 2021 Avient Earnings Release_0.pdf
While we anticipate raw material and labor shortages to
continue and inflation to be persistent, we have proven that we can manage these challenges
and expect to deliver another record year of growth.”
Full Year Comparisons Pro Forma for Acquisition of Clariant’s Color Business
The company acquired Clariant’s color (“Clariant Color”) business on July 1, 2020 (the
“Acquisition Date”).
Management believes this provides better comparability of the performance of the
combined businesses.
https://www.avient.com/investor-center/news/polyone-announces-second-quarter-2019-results
Inventories, net
Decrease in inventories
Color, Additives and Inks
https://www.avient.com/investor-center/news/polyone-announces-fourth-quarter-and-full-year-2019-results
Inventories, net
Decrease (increase) in inventories
Color, Additives and Inks
https://www.avient.com/news/polyone-presents-leading-edge-solutions-fakuma-2015
Ranging from colorants and additives to engineered polymer formulations, these solutions can help customers operate more efficiently and design better.
Managing heat in molded interconnect devices with specialty thermoplastics
Matt Defosse
Marketing Communications Manager, Europe
PolyOne Corporation
+49 6407-907-0386
matt.defosse@avient.com
https://www.avient.com/content/resource-center/substance-safety-summaries
Color Services
Color Management: ColorMatrix Select
Avient Color Prediction Service
https://www.avient.com/news/redefining-“cool”-new-infrared-absorption-additive-improves-energy-efficiency-and-comfort-large-indoor-facilities
With SiteCool technology, owners of large facilities gain a new tool in the fight to make their sites more energy efficient,” said Barto Du Plessis, general manager, Colorant Chromatics.
Cooling costs are a significant cost in managing these large facilities.
SiteCool helps facility management meet both goals.
https://www.avient.com/sites/default/files/resources/PolyOne%25202012%2520Annual%2520Report.pdf
Color and additive solutions include an innovative array of colors, special effects and
performance-enhancing and eco-friendly solutions.
Senior Vice President and General Manager, Specialty Color, Additives and Inks, July 2006 to
January 2010.
Inventories
Inventories are stated at the lower of cost or market using the first-in, first-out (FIFO) method.