https://www.avient.com/sites/default/files/2021-04/avnt-first-quarter-2021-news-release.pdf
CLEVELAND – April 30, 2021 – Avient Corporation (NYSE: AVNT), a leading provider of
specialized and sustainable material solutions, today reported its first quarter results for 2021.
I’m very pleased to report we achieved the highest level of organic sales growth in the last
decade, as the economy recovers from the pandemic lows of the prior year.
As companies report their earnings this year and
compare to 2020, there will be many examples of
significant growth being delivered.
https://www.avient.com/investor-center/news/polyone-announces-leadership-appointments
March 16, 2020
March 16, 2020
earned a bachelor's degree in applied chemistry from
https://www.avient.com/investor-center/news/polyone-declares-quarterly-dividend-increase-30-announces-three-year-dividend-increase-plan
January 10, 2018
Our cash flow generation, financial profile and earnings potential have never been stronger, and we are very well positioned to deliver double digit EPS growth in 2018 and beyond."
You are advised to consult any further disclosures we make on related subjects in our reports on Form 10-Q, 8-K and 10-K that we provide to the
https://www.avient.com/sites/default/files/2021-06/avient-ir-presentation-may-2021-w-non-gaap-recs.pdf
Big or small, we earn customers, and we keep them.
Aligned with leading reporting frameworks – GRI, SASB, TCFD.
Full
conformance will be built over subsequent reporting cycles
https://www.avient.com/sites/default/files/2022-03/Avient 2022 Proxy Statement.pdf
The
payout was earned based on the Companyʼs adjusted EPS performance over four equally-weighted
performance periods as noted below.
2019–2021 Cash-Settled Performance Units
Performance Measure: Adjusted EPS
Performance Periods Weighting Target Result Payout %
January 1, 2019 – December 31, 2019 25% $2.52 $2.42 71%
January 1, 2020 – December 31, 2020 25% $1.94 $1.90 95%
January 1, 2021 – December 31, 2021 25% $2.15 $3.05 193%
January 1, 2019 – December 31, 2021 25% $6.61 $7.37 143%
Total Attainment 125%
Adjusted EPS (threshold, target and maximum levels, and results) with respect to the incentives described
above was calculated with adjustments for acquisitions, divestitures and special items pursuant to the
terms of the 2019-2021 long-term incentive program (the “2019-2021 Long-Term Incentive Program”) and
as approved by the Compensation Committee.
Beggs joined the Company on August 24, 2020, after the grant date for these awards,
and therefore did not participate in the 2019-2021 Long-Term Incentive Program.
2019 – 2021 Cash-Settled Performance Units—Performance Measure: Adjusted EPS*
Performance Periods Weighting Threshold Target Maximum Result Payout %
January 1, 2019 –
December 31, 2019 25% $2.35 $2.52 $2.77 $2.42 71%
January 1, 2020 –
December 31, 2020 25% $1.58 $1.94 $2.50 $1.90 95%
January 1, 2021 –
December 31, 2021 25% $1.58 $2.15 $3.12 $3.05 193%
January 1, 2019 –
December 31, 2021 25% $5.51 $6.61 $8.39 $7.37 143%
Total Attainment 125%
* All financial measures (performance measures and results) reported in the table above were calculated with adjustments for acquisitions,
divestitures and special items (as noted on Appendix A) pursuant to the terms of the program and as approved by the Compensation Committee.
The global employee evaluation focused on each employeeʼs eligible earnings and annual target cash
incentive for the period January 1, 2021 to December 31, 2021.
https://www.avient.com/investor-center/investor-news/archives?page=21
January 7, 2019
January 2, 2019
Revenue increased 8% to $883 million, primarily driven by 6% organic growth with acquisitions adding approximately 2%
- GAAP earnings per share o
https://www.avient.com/sites/default/files/2023-02/AVNT Q4 2022 Earnings Presentation.pdf
The non-GAAP financial measures include: Adjusted Earnings Per Share, Net Debt / Adjusted EBITDA, and Adjusted
EBITDA.
Unless otherwise stated, Adjusted EBITDA figures included in this presentation exclude the impact of special items as defined in our quarterly earnings releases.
Management excludes intangible asset amortization from adjusted EPS as it believes excluding acquired intangible asset
amortization is a useful measure of current period earnings per share.
https://www.avient.com/news/polyone-announces-strong-fourth-quarter-and-full-year-2013-results
January 28, 2014
GAAP earnings per share totaled $0.25 in the fourth quarter of 2013, versus $0.03 reported in the fourth quarter of 2012.
SunBelt equity earnings, after tax
https://www.avient.com/sites/default/files/2020-05/2.-polyone-ir-presenstation-wells-fargo-industrials-conference.pdf
On January 28, 2020, prior to the issuance of the additional shares, the
Company provided guidance for adjusted EPS for the first quarter of 2020.
Accordingly, for purposes of
comparability to the January 28, 2020 guidance, and prior year, management has referenced adjusted EPS excluding the impact of the additional shares issued in February.
Reconciliation to Adjusted EPS Excluding Special Items and Impacts of February 2020 Equity Offering
Three Months Ended
March 31, 2020
Net income from continuing operations – GAAP $ 33.1
Special items, after tax
(1)
8.6
After tax interest income earned on equity proceeds, included in Interest expense, net (0.7)
Adjusted net income excluding special items and impact of interest income on equity proceeds $ 41.0
Diluted weighted-average shares used to compute earnings per common share 86.7
Weighted-average impact of 15.3 million shares issued in February 2020 equity offering (9.3)
Diluted weighted-average shares excluding impact of shares issued in February 2020 equity offering 77.4
Adjusted EPS - excluding special items and the net impact of equity offering $ 0.53
Reconciliation of Non-GAAP Financial Measures (Unaudited)
(Dollars in millions, except per share data)
Senior management uses comparisons of adjusted net income from continuing operations attributable to PolyOne shareholders and diluted adjusted earnings per share (EPS) from continuing
operations attributable to PolyOne shareholders, excluding special items, to assess performance and facilitate comparability of results.
https://www.avient.com/sites/default/files/2020-05/1.-polyone-ir-presenstation-fermium-research-chemicals-conference.pdf
On January 28, 2020, prior to the issuance of the additional shares, the
Company provided guidance for adjusted EPS for the first quarter of 2020.
Accordingly, for purposes of
comparability to the January 28, 2020 guidance, and prior year, management has referenced adjusted EPS excluding the impact of the additional shares issued in February.
Reconciliation to Adjusted EPS Excluding Special Items and Impacts of February 2020 Equity Offering
Three Months Ended
March 31, 2020
Net income from continuing operations – GAAP $ 33.1
Special items, after tax
(1)
8.6
After tax interest income earned on equity proceeds, included in Interest expense, net (0.7)
Adjusted net income excluding special items and impact of interest income on equity proceeds $ 41.0
Diluted weighted-average shares used to compute earnings per common share 86.7
Weighted-average impact of 15.3 million shares issued in February 2020 equity offering (9.3)
Diluted weighted-average shares excluding impact of shares issued in February 2020 equity offering 77.4
Adjusted EPS - excluding special items and the net impact of equity offering $ 0.53
Reconciliation of Non-GAAP Financial Measures (Unaudited)
(Dollars in millions, except per share data)
Senior management uses comparisons of adjusted net income from continuing operations attributable to PolyOne shareholders and diluted adjusted earnings per share (EPS) from continuing
operations attributable to PolyOne shareholders, excluding special items, to assess performance and facilitate comparability of results.