https://www.avient.com/sites/default/files/2025-02/News Release - AVNT-2024.12.31-News Release 2.12.25 2PM_0.pdf
Khandpur added, “In addition, our 2024 safety performance represented the safest year in
company history and evidenced that we’ll continue to build upon the many proven foundational
strengths of Avient as we execute our new strategy.”
2025 Outlook
“As we shared at our Investor Day in December, we laid out a path to grow organic sales 100 –
200 basis points above GDP with margin expansion by intersecting high growth markets and
secular trends with our technologies to create platforms that scale,” said Jamie Beggs, Senior
Vice President and Chief Financial Officer, Avient Corporation.
This is due to the inherent difficulty of forecasting the
timing and amount of certain items, such as, but not limited to, environmental remediation costs
and associated recoveries, mark-to-market adjustments on pension and other post-retirement
obligations, acquisition-related charges, and other non-routine costs.
Three Months Ended December 31,
2024 2023
Reconciliation to Condensed Consolidated Statements of Income $ EPS(1) $ EPS(1)
Net income from continuing operations attributable to Avient shareholders $ 48.3 $ 0.52 $ 27.8 $ 0.30
Special items, after-tax (Attachment 3) (18.0) (0.20) 5.4 0.06
Amortization expense, after-tax 14.8 0.17 15.0 0.16
Adjusted net income / EPS $ 45.1 $ 0.49 $ 48.2 $ 0.52
(1) Per share amounts may not recalculate from figures presented herein due to rounding
Year Ended December 31,
2024 2023
Reconciliation to Condensed Consolidated Statements of Income $ EPS(1) $ EPS(1)
Net income from continuing operations attributable to Avient shareholders $ 169.5 $ 1.84 $ 75.8 $ 0.83
Special items, after-tax (Attachment 3) 15.9 0.17 79.3 0.86
Amortization expense, after-tax 59.5 0.65 61.5 0.67
Adjusted net income / EPS $ 244.9 $ 2.66 $ 216.6 $ 2.36
(1) Per share amounts may not recalculate from figures presented herein due to rounding
8
Attachment 2
Avient Corporation
Condensed Consolidated Statements of Income (Unaudited)
(In millions, except per share data)
Three Months Ended
December 31,
Year Ended
December 31,
2024 2023 2024 2023
Sales $ 746.5 $ 719.0 $ 3,240.4 $ 3,142.8
Cost of sales 487.0 510.1 2,183.7 2,250.3
Gross margin 259.5 208.9 1,056.7 892.5
Selling and administrative expense 173.9 165.8 727.4 695.7
Operating income 85.6 43.1 329.3 196.8
Interest expense, net (25.5) (26.8) (105.6) (115.3)
Other income, net 3.2 4.3 1.1 5.8
Income from continuing operations before income taxes 63.3 20.6 224.8 87.3
Income tax (expense) benefit (14.8) 7.0 (54.1) (11.0)
Net income from continuing operations 48.5 27.6 170.7 76.3
Income (loss) from discontinued operations, net of income taxes — 0.8 — (0.1)
Net income 48.5 28.4 170.7 76.2
Net (income) loss attributable to noncontrolling interests (0.2) 0.2 (1.2) (0.5)
Net income attributable to Avient common shareholders $ 48.3 $ 28.6 $ 169.5 $ 75.7
Earnings per share attributable to Avient common shareholders - Basic:
Continuing operations $ 0.53 $ 0.30 $ 1.86 $ 0.83
Discontinued operations — 0.01 — —
Total $ 0.53 $ 0.31 $ 1.86 $ 0.83
Earnings per share attributable to Avient common shareholders - Diluted:
Continuing operations $ 0.52 $ 0.30 $ 1.84 $ 0.83
Discontinued operations — 0.01 — —
Total $ 0.52 $ 0.31 $ 1.84 $ 0.83
Cash dividends declared per share of common stock $ 0.2700 $ 0.2575 $ 1.0425 $ 1.0000
Weighted-average shares used to compute earnings per common share:
Basic 91.4 91.2 91.3 91.1
Diluted 92.2 91.9 92.0 91.8
9
Attachment 3
Avient Corporation
Summary of Special Items (Unaudited)
(In millions, except per share data)
Special items (1)
Three Months Ended
December 31,
Year Ended
December 31,
2024 2023 2024 2023
Cost of sales:
Restructuring costs, including accelerated depreciation $ (4.6) $ (2.0) $ 1.0 $ (11.9)
Environmental remediation costs (6.8) (17.2) (35.0) (69.7)
Reimbursement of previously incurred environmental costs 34.7 1.6 34.7 1.6
Impact on cost of sales 23.3 (17.6) 0.7 (80.0)
Selling and administrative expense:
Restructuring and employee separation costs (2.6) (1.1) (9.2) (14.9)
Legal and other (0.3) (6.1) (10.4) (15.2)
Acquisition related costs — (1.3) (2.5) (5.9)
Impact on selling and administrative expense (2.9) (8.5) (22.1) (36.0)
Impact on operating income 20.4 (26.1) (21.4) (116.0)
Interest expense, net - financing costs — (0.1) (2.3) (2.3)
Pension and post retirement mark-to-market adjustments and other 3.5 3.8 3.6 3.7
Impact on other income, net 3.5 3.8 3.6 3.7
Impact on income from continuing operations before income taxes 23.9 (22.4) (20.1) (114.6)
Income tax (expense) benefit on above special items (5.8) 4.5 6.1 27.7
Tax adjustments(2) (0.1) 12.5 (1.9) 7.6
Impact of special items on net income from continuing operations $ 18.0 $ (5.4) $ (15.9) $ (79.3)
Diluted earnings per common share impact $ 0.20 $ (0.06) $ (0.17) $ (0.86)
Weighted average shares used to compute adjusted earnings per share:
Diluted 92.2 91.9 92.0 91.8
(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 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 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/2022-03/Avient 2021 Annual Report.pdf
Gains and losses on these contracts generally offset gains and losses on the
assets and liabilities being hedged.
Included in the mark-to-market gain was a
$6.4 million gain related to lump sum payments that were offered to certain eligible participants of our US Qualified
Pension Plan in the second quarter of 2020 which resulted in a settlement of $1.1 million, and a curtailment gain of
$5.3 million related to certain acquired pension plans during the fourth quarter of 2020.
Partially offsetting the mark-
to-market gain was the decrease in our year end discount rate from 3.19% to 2.47%.
53 AVIENT CORPORATION
In 2019, we recognized a $9.6 million mark-to-market gain that was primarily a result of actual asset returns that
were higher than our assumed returns and mortality assumptions.
https://www.avient.com/sites/default/files/2023-09/SEM Services Capabilities Overview Brochure.pdf
You gain access to world-
class experts who use cross-industry knowledge, a deep understanding of application requirements, specialty
materials expertise, and comprehensive technical services to assist customers around the world in overcoming
these challenges.
We use our unique, consultative approach to solve difficult design, engineering, and manufacturing challenges
allowing customers, like you, to:
• Simplify your product development process
• Expand bandwidth and supplement internal resources
• Accelerate speed to market
• Differentiate products
• Streamline and optimize production
With global facilities and localized support to help you where you are, our experts serve as an extension of your
product development team to take you from concept to marketplace with speed and rigor, using a full suite of
end-to-end support services.
This perspective, rooted in advanced design
and detailed analysis, fosters innovation and expands
opportunities for our customers to gain market share.
https://www.avient.com/sites/default/files/2023-05/SEM Services Capabilities Overview Brochure.pdf
You gain access to world-
class experts who use cross-industry knowledge, a deep understanding of application requirements, specialty
materials expertise, and comprehensive technical services to assist customers around the world in overcoming
these challenges.
We use our unique, consultative approach to solve difficult design, engineering, and manufacturing challenges
allowing customers, like you, to:
• Simplify your product development process
• Expand bandwidth and supplement internal resources
• Accelerate speed to market
• Differentiate products
• Streamline and optimize production
With global facilities and localized support to help you where you are, our experts serve as an extension of your
product development team to take you from concept to marketplace with speed and rigor, using a full suite of
end-to-end support services.
This perspective, rooted in advanced design
and detailed analysis, fosters innovation and expands
opportunities for our customers to gain market share.
https://www.avient.com/investor-center/news/advanced-composite-materials-polyone-bringing-innovation-and-sustainability-transportation-industry
NYSE: POL) today announced that its advanced composite materials are increasingly enabling innovative and sustainable products that meet the changing market needs of the transportation industry.
OEMs are successfully incorporating our thermoplastic composite technology and gaining value from our design expertise at every step of the product development cycle," said
Comptek, SilCoTec, Gordon Composites and Polystrand, including whether such businesses will be accretive, retain the management teams of acquired businesses, and retain relationships with customers of acquired businesses; 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; our ability to achieve new business gains; the effect on foreign operations of currency fluctuations, tariffs and other political, economic and regulatory risks; changes in polymer consumption growth rates and laws and regulations regarding the disposal of plastic in jurisdictions where we conduct business; changes in global industry capacity or in the rate at which anticipated changes in industry capacity come online; 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 achieve or delays in achieving or achievement of less than the anticipated financial benefit from initiatives related to working capital reductions, cost reductions and employee productivity goals; an inability to raise or sustain prices for products or services; our ability to continue to pay cash dividends, including at the increasing rate, which will be subject to, among other factors, market conditions, our cash flow and cash requirements and restrictions contained in any of our debt agreements; 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.
https://www.avient.com/investor-center/news/avient-announces-second-quarter-2024-results
was driven by improving underlying demand trends, as well as winning new specifications and gaining share in markets supported by secular trends.
regions benefited largely from restocking and share gains, particularly in the packaging end market."
Taxes paid on gain on sale of business
https://www.avient.com/investor-center/news/polyone-announces-fourth-quarter-and-full-year-2017-results
Special items in the prior year quarter, the largest of which were a mark-to-market pension adjustment and restructuring charges, resulted in a net after-tax gain of
Pension & other post-retirement benefits - mark-to-market adjustment
Gain on sale of closed facilities
https://www.avient.com/sites/default/files/2025-02/Avient Investor Presentation - February 2025_w_Non-GAAP.pdf
Share gains and geographic penetration
all Avient
Amplify innovation
Copyright © .
Play bigger and bolder in high growth markets
and portfolios supported by secular trends to
create product platforms of scale
2.
Prioritize company-level growth vectors meeting
the four-point criteria
MARKETS TECHNOLOGY CUSTOMER SCALE
3.
https://www.avient.com/investor-center/news/avient-announces-record-third-quarter-2021-results
shares in the open market in the future."
Pension settlement gain and mark-to-market adjustment
Pension settlement gain and mark-to-market adjustment
https://www.avient.com/investor-center/news/avient-announces-fourth-quarter-and-full-year-2020-results-and-provides-guidance-2021
Inventory fair market value step-up expense
Pension settlement/curtailment gains and mark-to-market adjustment
Gain on sale of business, net of tax