https://www.avient.com/sites/default/files/2023-11/AVNT Q3 2023 Earnings Presentation - Website.pdf
AVIENT CORPORATION
T H I R D Q U A R T E R 2 0 2 3 R E S U L T S
(NYSE: AVNT)
N O V E M B E R 2 , 2 0 2 3
D I S C L A I M E R
Forward-Looking Statements
Certain statements contained in or incorporated by reference into this presentation constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995.
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
September 30, 2023
Three Months Ended
September 30, 2022
Reconciliation to Condensed Consolidated Statements of Income: $ EPS $ EPS
Net income (loss) from continuing operations attributable to Avient
shareholders $ 5.1 $ 0.06 $ (27.4) $ (0.30)
Special items, after tax 32.0 0.35 68.3 0.75
Amortization expense, after-tax 15.2 0.16 $ 13.4 $ 0.14
Adjusted net income / EPS $ 52.3 $ 0.57 $ 54.3 $ 0.59
Three Months Ended
September 30,
Reconciliation to EBITDA and Adjusted EBITDA: 2023 2022
Sales - GAAP $ 753.7 $ 823.3
Pro Forma APM adjustments — 60.7
Pro forma adjusted sales $ 753.7 $ 884.0
Net income from continuing operations – GAAP $ 5.1 $ (27.8)
Income tax (benefit) expense (0.1) (1.2)
Interest expense, net 30.3 37.3
Depreciation and amortization 46.4 39.8
EBITDA from continuing operations $ 81.7 $ 48.1
Special items, before tax 43.2 82.0
Interest expense included in special items (2.2) (10.0)
Depreciation and amortization included in special items — (0.8)
Adjusted EBITDA $ 122.7 $ 119.3
Pro forma APM adjustments — 17.2
Pro forma adjusted EBITDA $ 122.7 $ 136.5
Pro forma adjusted EBITDA as a % of sales 16.3 % 15.4 %
1
Year Ended
December 31,
Reconciliation to EBITDA and Adjusted EBITDA: 2006 2018
Sales $ 2,622.4 $ 3,533.4
Net income from continuing operations – GAAP $ 133.5 $ 160.8
Income tax expense 29.7 36.4
Interest expense, net 63.1 62.8
Depreciation and amortization 57.1 91.5
EBITDA from continuing operations $ 283.4 $ 351.5
Special items, before tax (34.0) 59.5
Depreciation and amortization included in special items — (3.0)
JV - equity income (107.0) —
Adjusted EBITDA $ 142.4 $ 408.0
Adjusted EBITDA as a % of sales 5.4 % 11.5 %
Reconciliation to EBITDA and Adjusted EBITDA:
Three Months Ended
December 31, 2022
Net loss from continuing operations – GAAP $ (16.6)
Income tax benefit (60.8)
Interest expense, net 49.4
Depreciation and amortization 48.6
EBITDA from continuing operations $ 20.6
Special items, before tax 104.3
Interest expense included in special items (16.0)
Depreciation and amortization included in special items (1.5)
Adjusted EBITDA $ 107.4
Reconciliation of Pro Forma Adjusted Earnings per Share:
Three Months Ended
December 31, 2022
Net loss from continuing operations attributable to Avient
shareholders $ (17.0)
Special items, after tax 38.3
Amortization expense, after-tax 14.6
Adjusted net income from continuing operations excluding special
items 35.9
Pro forma adjustments* 2.5
Pro forma adjusted net income from continuing operations attributable
to Avient shareholders $ 38.4
Weighted average diluted shares 91.7
Pro forma adjusted EPS - excluding special items pro forma for APM
acquisition $ 0.42
* Pro forma adjustment to reflect APM results for the period before Avient ownership including the impacts of debt financing and paydown of
debt with net proceeds from the Distribution sale.
2
AVNT Q3 2023 Earnings Presentation
Avient corporation�Third quarter 2023 results
DISCLAIMER
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Avient protective materials �First Year
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IR Deck - AVNT-2023.09.30 Non GAAP Recs
Attachment
https://www.avient.com/sites/default/files/2024-08/Avient-2023-Sustainability-Report_6.pdf
Internally, we were
cer tified for the fifth year as a Great Place to Work®.
Until that number is zero,
we have more work to do.
PSIC: 0
2.
https://www.avient.com/sites/default/files/2021-01/w-9-clariant-plastics-coatings-usa-llc-july-20201.pdf
The number shown on this form is my correct taxpayer identification number (or I am waiting for a number to be issued to me); and
2.
Certify that the TIN you are giving is correct (or you are waiting for a
number to be issued),
2.
Or, you can go to www.irs.gov/OrderForms to
place an order and have Form W-7 and/or SS-4 mailed to you within 10
business days.
https://www.avient.com/sites/default/files/2022-02/Q4 2021 Avient Earnings Release_0.pdf
In December, we completed our annual employee
engagement survey and received our 3rd consecutive Great Place to Work® certification from the
Great Place to Work Institute.”
3
2022 Outlook
“As we discussed during our Investor Day in December, we have momentum in growing
sustainable solutions, solving healthcare challenges and broadening advanced composite
applications,” said Jamie A.
To participate in the audio-only portion of the call, dial 1-844-835-
7433 (domestic) or 1-914-495-8589 (international) and provide conference ID number 2171339.
To access, dial 1-855-859-2056 (domestic) or 1-404-537-3406
(international) and provide conference ID number 2171339.
https://www.avient.com/sites/default/files/2020-10/2020-gravi-tech-design-guide-.pdf
It is limited to a number of cavities such
as (4, 8, 16, 32, 64) .
N” is the total number of branches .
Place wells at each 90° bend in the runner
system .
https://www.avient.com/sites/default/files/2022-03/Avient 2022 Proxy Statement.pdf
Name Number of Deferred Shares
(1)
(#)
R.E.
Garratt
2/11/2019 — — — — 6,227 348,401 — —
2/10/2020 — — — — 6,596 369,046 — —
2/08/2021 — — — — 5,142 287,695 — —
2/04/2015 9,200 — 38.27 2/4/2025 — — — —
2/15/2017 13,250 — 34.10 2/15/2027 — — — —
2/14/2018 11,050 — 41.89 2/14/2028 — — — —
2/11/2019 12,133 6,067 31.54 2/11/2029 — — — —
2/10/2020 6,550 13,100 31.48 2/10/2030 — — — —
2/08/2021 — 20,150 42.27 2/8/2031 — — — —
L.K.
Kunkle
2/11/2019 — — — — 6,603 369,438 — —
2/20/2020 — — — — 7,121 398,420 — —
2/08/2021 — — — — 5,498 307,613 — —
2/15/2017 12,100 — 34.10 2/15/2027 — — — —
2/14/2018 11,500 — 41.89 2/14/2028 — — — —
2/11/2019 12,833 6,417 31.54 2/11/2029 — — — —
2/10/2020 7,067 14,133 31.48 2/10/2030 — — — —
2/08/2021 — 21,650 42.27 2/8/2031 — — — —
J.R.
https://www.avient.com/sites/default/files/2024-08/Avient-2023-Sustainability-Report_5.pdf
Internally, we were
cer tified for the fifth year as a Great Place to Work®.
Until that number is zero,
we have more work to do.
PSIC: 0
2.
https://www.avient.com/sites/default/files/2024-08/Avient 2023 Sustainability Report_6.pdf
Internally, we were
cer tified for the fifth year as a Great Place to Work®.
Until that number is zero,
we have more work to do.
PSIC: 0
2.
https://www.avient.com/sites/default/files/2024-03/QF-02 QMS Global Standard Response.PDF
Please be informed that Avient does not provide detailed information about buildings and
facilities, storage area, staff numbers and union organizations on surveys.
A
safety management system is in
place in all our locations to
analyze, reduce risk, and
improve safety performance.
IT Security
Firewall Critical Data
Firewall systems are in place on our network.
https://www.avient.com/sites/default/files/resources/PolyOne%2520IR%2520Presentation%2520-%2520Morgan%2520Stanley%2520Conference.pdf
P O L Y O N E
I N V E S T O R
P R E S E N T A T I O N
J U N E 2 0 1 8
F O R W A R D L O O K I N G S T A T E M E N T S
PolyOne Corporation 2
In this presentation, statements that are not reported financial results or other historical information are “forward-looking statements”
within the meaning of the Private Securities Litigation Reform Act of 1995.
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.
Service:�The Timeless differentiator
Talent development
IQ DESIGN LABS
LSS CUSTOMER FIRST
3D Printing�Bringing New ideas to life
Slide Number 34
Innovating with PolyOne
COLOR, ADDITIVES & INKS
Color, Additives & Inks
Specialty Engineered Materials
Specialty Engineered Materials
Performance Products & Solutions
Performance Products & Solutions
DISTRIBUTION
Target end markets & �application examples
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Investor Presentation - June 2018
Investor Presentation - March 2018
Adjusted EBITDA