https://www.avient.com/sites/default/files/2023-02/AVNT Q4 2022 Earnings Press Release-1.pdf
Special items for the fourth quarter of 2022 had a $(0.42)
impact on EPS and included acquisition-related costs that primarily consist of inventory step-up
adjustments, restructuring costs, debt extinguishment costs, and a pension market-to-market
adjustment.
2
On a pro forma basis, fourth quarter and full year adjusted EPS were $0.42 and $3.04, respectively,
which excludes special items and intangible amortization expense, exceeding previous guidance of
$0.33 and $2.95.
That being said, versus the prior year, global demand conditions and inventory destocking
negatively impacted nearly every industry and region during the quarter,” Mr.
Three Months Ended
December 31,
2022 2021
GAAP
Results
Special
Items
Adjusted
Results
GAAP
Results
Special
Items
Adjusted
Results
(Loss) income from continuing operations before income
taxes $ (77.4) $ 104.3 $ 26.9 $ 27.4 $ 20.5 $ 47.9
Income tax benefit (expense) - GAAP 60.8 — 60.8 (17.1) — (17.1)
Income tax impact of special items (Attachment 3) — (26.8) (26.8) — (4.1) (4.1)
Tax adjustments (Attachment 3) — (39.2) (39.2) — 7.5 7.5
Income tax benefit (expense) $ 60.8 $ (66.0) $ (5.2) $ (17.1) $ 3.4 $ (13.7)
Effective Tax Rate(1) 78.5 % 19.6 % 62.4 % 28.6 %
(1) Rates may not recalculate from figures presented herein due to rounding
15
Year Ended
December 31,
2022 2021
GAAP
Results
Special
Items
Adjusted
Results
GAAP
Results
Special
Items
Adjusted
Results
Income from continuing operations before income taxes $ 63.8 $ 194.0 $ 257.8 $ 203.5 $ 57.1 $ 260.6
Income tax benefit (expense) - GAAP 19.3 — 19.3 (51.9) — (51.9)
Income tax impact of special items (Attachment 3) — (49.4) (49.4) — (13.0) (13.0)
Tax adjustments (Attachment 3) — (28.4) (28.4) — 5.9 5.9
Income tax expense $ 19.3 $ (77.8) $ (58.5) $ (51.9) $ (7.1) $ (59.0)
Effective Tax Rate(1) (30.2)% 22.7 % 25.5 % 22.7 %
(1) Rates may not recalculate from figures presented herein due to rounding
Three Months Ended Year Ended
Reconciliation of Pro Forma Adjusted Earnings per Share December 31, 2022
Net (loss) income from continuing operations attributable to Avient
shareholders $ (17.0) $ 82.8
Special items, after tax (Attachment 3) 38.3 116.2
Amortization expense, after-tax (Attachment 1) 14.6 49.0
Adjusted net income from continuing operations excluding special items 35.9 248.0
APM pro forma adjustments to net income from continuing operations* 2.5 13.6
APM amortization expense, after tax* — 19.1
Pro forma adjusted net income from continuing operations attributable to Avient
shareholders $ 38.4 $ 280.7
Weighted average diluted shares 91.7 92.2
Pro forma adjusted EPS - excluding special items $ 0.42 $ 3.04
* Pro forma adjustment for January - August 2022 APM results (period before Avient ownership) including the impacts of debt financing and
prepayments on net income from continuing operations.
https://www.avient.com/company/sustainability/sustainability-report/products/markets
Outdoor High Performance & Case Study
Outdoor High Performance
https://www.avient.com/knowledge-base/article/injection-molding-troubleshooting?rtype[]=1164
High viscosity flow.
High molded-in stress.
High shear in the material.
https://www.avient.com/knowledge-base/article/injection-molding-troubleshooting
High viscosity flow.
High molded-in stress.
High shear in the material.
https://www.avient.com/knowledge-base/article/continuous-fiber-reinforced-thermoplastic-composites?ind[]=6595
Continuous fiber reinforced thermoset composites combine high molecular weight resins with glass or carbon fibers.
These products can operate at high temperatures and have strong mechanical properties.
The fibers will pull and eventually fracture but will withstand high loads due to the high tensile modulus of the reinforcement.
https://www.avient.com/sites/default/files/2020-10/luxury-closures-gravi-tech-design-guide-2.0-application-specific.pdf
Relative
viscosity and shear rate can be calculated using
the equations below. 3
Fountain Flow
Plastic materials exhibit fountain flow due to
the high viscosities and high aspect ratios.
Because this material has such
a high heat transfer rate, it tends to freeze off
quickly.
This
pressure is high at the gate area and low at the
end of fill.
https://www.avient.com/resources/safety-data-sheets?page=4795
HIGH STR BLACK
HIGH STR BLUE
HIGH STR RED
https://www.avient.com/knowledge-base/article/designing-molds-styrenic-block-copolymers-sbc?rtype[]=1164
SEBS TPEs can have elongation as high as 1,200 percent.
For high elongation SEBS grades, hot runner tools with valve gates can be used.
Under some circumstances, too high shear rates may cause phase separation.
https://www.avient.com/knowledge-base/article/designing-molds-styrenic-block-copolymers-sbc
SEBS TPEs can have elongation as high as 1,200 percent.
For high elongation SEBS grades, hot runner tools with valve gates can be used.
Under some circumstances, too high shear rates may cause phase separation.
https://www.avient.com/sites/default/files/2023-03/Gravi-Tech- Portable Speaker-Application Snapshot.pdf
ELECTRONICS BRAND
P O R T A B L E S P E A K E R
W E I G H T E D C O M P O N E N T
• Ensures quality sound performance
• Injection molding capabilities for design flexibility
• Impact protection within a set temperature range
• Meets target density 3.0g/cm3 and product weight 400g
• Reduced scrap and improved product
manufacturability, compared to metal, with
an injection molded formulation
• Met strict testing requirements, including
achieving desired impact protection
performance at the specific temperature
range and target weight
• Maintained depth of base sound
Gravi-Tech™ Density Modified Formulation
KEY REQUIREMENTS
WHY AVIENT?