https://www.avient.com/sites/default/files/resources/POL%2520IR%2520Presentation%2520Jefferies%2520Conf%2520w%2520Non%2520GAAP%252008%252012%25202014.pdf
Factors that could cause actual results to differ materially from those implied by these forward-looking statements include, but are not limited to:
The final amount of charges resulting from the planned North American asset realignment and the Company’s ability to realize anticipated
savings and operational benefits from the asset realignment;
Our ability to achieve the strategic and other objectives relating to the acquisition of Spartech Corporation, including any expected synergies;
Our ability to successfully integrate Spartech and achieve the expected results of the acquisition, including, without limitation, the acquisition
being accretive;
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;
The financial condition of our customers, including the ability of customers (especially those that may be highly leveraged and those with
inadequate liquidity) to maintain their credit availability;
The speed and extent of an economic recovery, including the recovery of the housing market;
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 in the markets 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, employee productivity goals, and an inability to raise or sustain prices for products or services;
An inability to raise or sustain prices for products or services;
An inability to maintain appropriate relations with unions and employees;
The inability to achieve expected results from our acquisition activities;
Our ability to continue to pay cash dividends;
The amount and timing of repurchases of our common shares, if any; 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.
The above list of factors is not exhaustive.
We undertake no obligation to publicly update forward-looking statements, whether as a result of new information, future events or otherwise.
The non-GAAP financial measures
include: adjusted EPS, earnings before interest, tax, depreciation and amortization
(EBITDA), adjusted EBITDA, net debt, Specialty platform operating income, Specialty
platform gross margin percentage, adjusted operating income, return on invested
capital, net debt/ EBITDA, and the exclusion of corporate charges in certain
calculations.
Adjusted EPS 2006Y* 2007Y* 2008Y* 2009Y* 2010Y 2011Y 2012Y 2013Y 2014 Q2
Net income attributable to
PolyOne common
shareholders $ 130.9 $ 40.9 $ (417.0) $ 106.7 $ 152.5 $ 153.4 $ 53.3 $ 94.0 $ 60.3
Joint venture equity
earnings, after tax (68.5) (26.1) (20.8) (19.0) (14.7) (3.7) - - -
Special items, after tax (21.2) 41.4 310.0 (31.0) 15.8 (30.5) 35.7 30.4 36.7
Tax adjustments (30.0) (30.7) 147.2 (44.9) (88.3) (42.3) 0.5 2.2 (6.8)
Adjusted net income $ 11.2 $ 25.5 $ 19.4 $ 11.8 $ 65.3 $ 76.9 $ 89.5 $ 126.6 $ 90.2
Diluted shares 92.8 93.1 92.7 93.4 96.0 94.3 89.8 96.5 94.9
Adjusted EPS $ 0.12 $ 0.27 $ 0.21 $ 0.13 $ 0.68 $ 0.82 $ 1.00 $ 1.31 $ 0.95
* Historical results are shown as presented in prior filings and have not been updated to reflect subsequent changes in accounting principal or discontinued operations.
https://www.avient.com/sites/default/files/resources/POL%2520IR%2520Presentation%2520Credit%2520Suisse%2520w%2520non%2520GAAP%25206%252025%25202014.pdf
Factors that could cause actual results to differ materially from those implied by these forward-looking statements include, but are not limited to:
The final amount of charges resulting from the planned North American asset realignment and the Company’s ability to realize anticipated
savings and operational benefits from the asset realignment;
Our ability to achieve the strategic and other objectives relating to the acquisition of Spartech Corporation, including any expected synergies;
Our ability to successfully integrate Spartech and achieve the expected results of the acquisition, including, without limitation, the acquisition
being accretive;
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;
The financial condition of our customers, including the ability of customers (especially those that may be highly leveraged and those with
inadequate liquidity) to maintain their credit availability;
The speed and extent of an economic recovery, including the recovery of the housing market;
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 in the markets 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, employee productivity goals, and an inability to raise or sustain prices for products or services;
An inability to raise or sustain prices for products or services;
An inability to maintain appropriate relations with unions and employees;
The inability to achieve expected results from our acquisition activities;
Our ability to continue to pay cash dividends;
The amount and timing of repurchases of our common shares, if any; 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
The non-GAAP financial measures
include: adjusted EPS, earnings before interest, tax, depreciation and amortization
(EBITDA), adjusted EBITDA, net debt, Specialty platform operating income, Specialty
platform gross margin percentage, adjusted operating income, return on invested
capital, net debt/ EBITDA, and the exclusion of corporate charges in certain
calculations.
Adjusted EPS 2006Y* 2007Y* 2008Y* 2009Y* 2010Y 2011Y 2012Y 2013Y
Net Income attributable to PolyOne common
shareholders $ 130.9 $ 40.9 $ (417.0) $ 106.7 $ 152.5 $ 153.4 $ 53.3 $ 94.0
SunBelt equity earnings, after tax (68.5) (26.1) (20.8) (19.0)
(14.7) (3.7) - -
Special items, after tax (21.2) 41.4 310.0 (31.0) 15.8 (30.5) 35.7 30.4
Tax adjustments (30.0) (30.7) 147.2 (44.9) (88.3) (42.3) 0.5 2.2
Adjusted net income $ 11.2 $ 25.5 $ 19.4 $ 11.8 $ 65.3 $ 76.9 $ 89.5 $ 126.6
Diluted shares 92.8 93.1 92.7 93.4 96.0 94.3 89.8 96.5
Adjusted EPS $ 0.12 $ 0.27 $ 0.21 $ 0.13 $ 0.68 $ 0.82 $ 1.00 $ 1.31
* Historical results are shown as presented in prior filings and have not been updated to reflect subsequent changes in accounting
principal or discontinued operations.
https://www.avient.com/sites/default/files/resources/POL%2520IR%2520Presentation%2520GS%2520w%2520non%2520GAAP%25205_21_14.pdf
Factors that could cause actual results to differ materially from those implied by these forward-looking statements include, but are not limited to:
The final amount of charges resulting from the planned manufacturing realignment and the Company’s ability to realize anticipated savings and
operational benefits from the asset realignment;
Our ability to achieve the strategic and other objectives relating to the acquisition of Spartech Corporation, including any expected synergies;
Our ability to successfully integrate Spartech and achieve the expected results of the acquisition, including, without limitation, the acquisition being
accretive;
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;
The financial condition of our customers, including the ability of customers (especially those that may be highly leveraged and those with inadequate
liquidity) to maintain their credit availability;
The speed and extent of an economic recovery, including the recovery of the housing market;
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 in the markets 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, employee productivity goals, and an inability to raise or sustain prices for products or services;
An inability to raise or sustain prices for products or services;
An inability to maintain appropriate relations with unions and employees;
The inability to achieve expected results from our acquisition activities;
Our ability to continue to pay cash dividends;
The amount and timing of repurchases of our common shares, if any; 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.
• The above list of factors is not exhaustive.
• We undertake no obligation to publicly update forward-looking statements, whether as a result of new information, future events or otherwise.
The non-GAAP financial measures
include: adjusted EPS, earnings before interest, tax, depreciation and
amortization (EBITDA), adjusted EBITDA, net debt, Specialty platform operating
income, Specialty platform gross margin percentage, adjusted operating income,
return on invested capital, net debt/ EBITDA, and the exclusion of corporate
charges in certain calculations
Adjusted EPS 2006Y* 2007Y* 2008Y* 2009Y* 2010Y 2011Y 2012Y 2013Y
Net Income attributable to PolyOne common
shareholders $ 130.9 $ 40.9 $ (417.0) $ 106.7 $ 152.5 $ 153.4 $ 53.3 $ 94.0
SunBelt equity earnings, after tax (68.5) (26.1) (20.8) (19.0)
(14.7) (3.7) - -
Special items, after tax (21.2) 41.4 310.0 (31.0) 15.8 (30.5) 35.7 30.4
Tax adjustments (30.0) (30.7) 147.2 (44.9) (88.3) (42.3) 0.5 2.2
Adjusted net income $ 11.2 $ 25.5 $ 19.4 $ 11.8 $ 65.3 $ 76.9 $ 89.5 $ 126.6
Diluted shares 92.8 93.1 92.7 93.4 96.0 94.3 89.8 96.5
Adjusted EPS $ 0.12 $ 0.27 $ 0.21 $ 0.13 $ 0.68 $ 0.82 $ 1.00 $ 1.31
* Historical results are shown as presented in prior filings and have not been updated to reflect subsequent changes in accounting
principal or discontinued operations.
https://www.avient.com/investor-center/news/polyone-completes-sale-performance-products-and-solutions
in cash with an expected pre-tax gain of
news library online, please visit www.polyone.com/news.
Factors that could cause actual results to differ materially from those implied by these forward-looking statements include, but are not limited to: our ability to identify and evaluate acquisition targets and consummate and integrate acquisitions; 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; 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 plastics 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 raise or sustain prices for products or services; an ability to achieve or delays in achieving or achievement of less than the anticipated financial benefit from initiatives related to acquisitions and integration, working capital reductions, cost reductions and employee productivity goals; information systems failures and cyberattacks; 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/sites/default/files/2024-02/AVNT Q4 2023 Earnings Press Release.pdf
The company also noted that it finished the year with cash flow from operations of $202 million;
excluding $104 million of taxes paid on the sale of the Distribution business, cash flow from
operations was $306 million.
To access Avient’s news library online, please visit www.avient.com/news.
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.
14
Free Cash Flow Calculation December 31, 2023
Cash provided by operating activities $ 201.6
Taxes paid on gain on sale of business 104.1
Adjusted cash provided by operating activities $ 305.7
Capital expenditures $ (119.4)
Free cash flow $ 186.3
Three Months Ended
March 31, 2023
Reconciliation to Condensed Consolidated Statements of Income $ EPS
Net income from continuing operations attributable to Avient shareholders $ 20.8 $ 0.23
Special items, after tax 22.3 0.24
Amortization expense, after-tax 15.1 0.16
Adjusted net income / EPS $ 58.2 $ 0.63
Three Months Ended
December 31,
Year Ended
December 31,
Reconciliation to EBITDA and Pro Forma Adjusted EBITDA 2023 2022 2023 2022
Net income (loss) from continuing operations – GAAP $ 27.6 $ (16.6) $ 76.3 $ 83.1
Income tax (benefit) expense (7.0) (60.8) 11.0 (19.3)
Interest expense 26.8 49.4 115.3 119.8
Depreciation and amortization from continuing operations 44.2 48.6 188.8 162.5
EBITDA from continuing operations $ 91.6 $ 20.6 $ 391.4 $ 346.1
Special items, before tax 22.4 104.3 114.6 194.0
Interest expense included in special items (0.1) (16.0) (2.3) (26.0)
Depreciation and amortization included in special items — (1.5) (1.9) (5.5)
Adjusted EBITDA $ 113.9 $ 107.4 $ 501.8 $ 508.6
APM pro forma adjustments - 8 months 2022* — — — 83.1
Pro forma adjusted EBITDA $ 113.9 $ 107.4 $ 501.8 $ 591.7
* Pro forma adjustment for January - August 2022 APM results (period before Avient ownership).
https://www.avient.com/sites/default/files/2020-11/controller-grip-case-study.pdf
THE SOLUTION
While researching other possibilities online, the company
found Avient and requested additional information on its
thermoplastic elastomers (TPEs).
According to the company,
the precise thumb control and long-term comfort has
made these new accessories “wildly popular.”
1 http://www.statista.com/statistics/237749/value-of-the-global-
entertainment-and-media-market/
AVIENT HELPS GAMING ACCESSORIES COMPANY
TAKE AIM AT NEW OPPORTUNITIES
© 2020, All Rights Reserved
Avient Corporation, 33587 Walker Road, Avon Lake, Ohio USA 44012
To learn more, please contact Avient at
+1.844.4AVIENT (1.844.428.4368)
https://www.avient.com/sites/default/files/2025-05/AVNT Q1 2025 webcast slides_v17.pdf
Staying close to our customers to help them navigate the
uncertain environment and execute their respective plans
2.
All Rights Reserved
2025 9
Regional manufacturing capabilities
and supply chains help us serve
our customers locally
Global reach with a local touch
Sales exposure
$100M ~3%LESSTHAN
Raw materials exposure
$100M ~7.5%LESSTHAN
Tariff exposure
2025
guidance
Copyright © .
All Rights Reserved
2025 20
Reconciliation of
Non-GAAP financial
measures
Reconciliation to condensed
consolidated statements of income
Three months ended March 31, 2023
$ Millions EPS (in $)
Net income from continuing operations attributable
to Avient common shareholders
20.8 0.23
Special items, after-tax 22.3 0.24
Amortization expense, after-tax 15.1 0.16
Adjusted net income / EPS 58.2 0.63
1
Reconciliation to
EBITDA and Adjusted EBITDA
Year ended December 31, 2024
$ Millions
Net income – GAAP 170.7
Income tax expense 54.1
Interest expense 105.6
Depreciation & amortization 179.7
EBITDA 510.1
Special items, before tax 20.1
Interest expense included in special items (2.3)
Depreciation & amortization included in special items (1.5)
Adjusted EBITDA 526.4
Adjusted EBITDA as a percent of sales 16.2%
PAGE 3 OF 3
Reconciliation to condensed
consolidated statements of income
Three months ended June 30, 2024
$ Millions EPS (in $)
Net income attributable to Avient common shareholders 33.6 0.36
Special items, after-tax 21.8 0.24
Amortization expense, after-tax 14.8 0.16
Adjusted net income / EPS 70.2 0.76
Reconciliation to condensed
consolidated statements of income
Year ended December 31, 2024
$ Millions EPS (in $)
Net (loss) income attributable to Avient common shareholders 169.5 1.84
Special items, after-tax 15.9 0.17
Amortization expense, after-tax 59.5 0.65
Adjusted net income / EPS 244.9 2.66
Per share amounts may not recalculate from figures present herein due to rounding
1
1
1
Q1 2025 Earnings webcast
Slide 1
Slide 2: Disclaimer
Slide 3: Q1 2025 highlights
Slide 4: Q1 2025 organic revenue growth - by region
Slide 5: Playbook in current environment
Slide 6
Slide 7: Color, Additives & Inks – Q1 2025 performance
Slide 8: Specialty Engineered Materials – Q1 2025 performance
Slide 9: Global reach with a local touch
Slide 10
Slide 11: 2025 financial guidance unchanged...
https://www.avient.com/sites/default/files/2022-07/Avient Announces Second Quarter 2022 Results_1.pdf
The comprehensive online publication highlights progress made
toward Avient’s 2030 Sustainability Goals, along with other news and information on ESG
matters.
Three Months Ended
June 30,
Six Months Ended
June 30,
Reconciliation to Consolidated Statements of Income 2022 2021 2022 2021
Sales $ 1,302.4 $ 1,235.2 $ 2,596.2 $ 2,397.5
Gross margin - GAAP 303.8 288.7 597.5 591.1
Special items in gross margin (Attachment 3) (2.0) 12.6 3.8 10.4
Adjusted gross margin $ 301.8 $ 301.3 $ 601.3 $ 601.5
Adjusted gross margin as a percent of sales 23.3 % 24.4 % 23.2 % 25.1 %
Operating income - GAAP 129.5 108.1 258.1 228.5
Special items in operating income (Attachment 3) 4.3 14.2 12.1 16.6
Adjusted operating income $ 133.8 $ 122.3 $ 270.2 $ 245.1
Adjusted operating income as a percent of sales 10.3 % 9.9 % 10.4 % 10.2 %
The table below reconciles pre-special income tax expense and the pre-special effective tax rate to their most comparable US
GAAP figures.
Three Months Ended June 30,
2022 2021
GAAP
Results
Special
Items
Adjusted
Results
GAAP
Results
Special
Items
Adjusted
Results
Income from before income taxes $114.7 $ 3.4 $ 118.1 $ 89.8 $ 14.2 $ 104.0
Income tax expense - GAAP (30.0) — (30.0) (20.4) — (20.4)
Income tax impact of special items (Attachment 3) — (0.8) (0.8) — (3.4) (3.4)
Tax adjustments (Attachment 3) — 2.5 2.5 — 0.9 0.9
Income tax (expense) benefit $ (30.0) $ 1.7 $ (28.3) $ (20.4) $ (2.5) $ (22.9)
Effective Tax Rate(1) 26.1 % 23.9 % 22.7 % 22.0 %
(1) Rates may not recalculate from figures presented herein due to rounding
13
Six Months Ended June 30,
2022 2021
GAAP
Results
Special
Items
Adjusted
Results
GAAP
Results
Special
Items
Adjusted
Results
Income from before income taxes $225.8 $ 11.1 $ 236.9 $192.4 $ 16.6 $ 209.0
Income tax expense - GAAP (56.6) — (56.6) (43.3) — (43.3)
Income tax impact of special items (Attachment 3) — (2.8) (2.8) — (4.3) (4.3)
Tax adjustments (Attachment 3) — 4.0 4.0 — 2.0 2.0
Income tax (expense) benefit $ (56.6) $ 1.2 $ (55.4) $ (43.3) $ (2.3) $ (45.6)
Effective Tax Rate(1) 25.0 % 23.4 % 22.5 % 21.8 %
(1) Rates may not recalculate from figures presented herein due to rounding
Reconciliation of EBITDA by Segment Three Months Ended
June 30,
Six Months Ended June
30,
2022 2021 2022 2021
Operating income:
Color, Additives and Inks $ 93.6 $ 86.3 $ 188.1 $ 175.1
Specialty Engineered Materials 36.6 37.3 76.3 71.5
Distribution 27.1 23.7 51.3 47.7
Corporate and eliminations (27.8) (39.2) (57.6) (65.8)
Operating income $ 129.5 $ 108.1 $ 258.1 $ 228.5
Items below OI in Corporate:
Other income, net $ 1.4 $ 1.2 $ 0.8 $ 2.7
Depreciation & amortization:
Color, Additives and Inks $ 25.9 $ 25.3 $ 51.9 $ 52.6
Specialty Engineered Materials 7.7 8.1 15.5 15.9
Distribution 0.2 0.2 0.4 0.4
Corporate and eliminations 2.7 0.2 6.5 2.0
Depreciation & Amortization $ 36.5 $ 33.8 $ 74.3 $ 70.9
EBITDA:
Color, Additives and Inks $ 119.5 $ 111.6 $ 240.0 $ 227.7
Specialty Engineered Materials 44.3 45.4 91.8 87.4
Distribution 27.3 23.9 51.7 48.1
Corporate and eliminations (25.1) (39.0) (51.1) (63.8)
Other income, net 1.4 1.2 $ 0.8 $ 2.7
EBITDA $ 167.4 $ 143.1 $ 333.2 $ 302.1
14
Three Months Ended
June 30,
Six Months Ended June
30,
Reconciliation to EBITDA and Adjusted EBITDA: 2022 2021 2022 2021
Net income – GAAP $ 84.7 $ 69.4 $ 169.2 $ 149.1
Income tax expense 30.0 20.4 56.6 43.3
Interest expense 16.2 19.5 33.1 38.8
Depreciation and amortization 36.5 33.8 74.3 70.9
EBITDA $ 167.4 $ 143.1 $ 333.2 $ 302.1
Special items, before tax 3.4 14.2 11.1 16.6
Depreciation and amortization included in special items (1.1) 1.4 (3.2) 0.8
Adjusted EBITDA $ 169.7 $ 158.7 $ 341.1 $ 319.5
Three Months Ended
June 30, 2021
Reconciliation to Condensed Consolidated Statements of
$ EPS
Net income attributable to Avient shareholders $ 68.8 $ 0.74
Special items, after tax (Attachment 3) 11.7 0.13
Adjusted net income / EPS - excluding special items 80.5 0.87
FX adjustment (4.9) (0.05)
Adjusted net income / EPS - excluding special items, adjusted for FX $ 75.6 $ 0.82
NEWS RELEASE
Attachment 1
https://www.avient.com/sites/default/files/2023-08/QRG for suppliers on invoicing%5B50%5D.pdf
https://supplier.coupa.com/help/how-to-set-up-e-invoicing/
6
In the Subtotal section, you can enter values and select tax rates for shipping, handling, and
miscellaneous costs.
Applicable tax rates are determined by the tax code on the invoice.
The tax rate is a government
regulated rate to be paid to the tax authorities as part of the sale and it is shown as a percentage.
https://www.avient.com/sites/default/files/resources/Credit%2520Suisse%2520June%252026%25202013.pdf
Factors that could cause actual results to differ materially from those implied by these forward-looking statements include, but are not limited to:
The time required to consummate the divestiture of our resin assets and the satisfaction or waiver of conditions in the sale agreement;
Any material adverse changes in the business supporting the resin assets being sold;
The ability to obtain required regulatory or other third-party approvals and consents and otherwise consummate the proposed divestiture
Our ability to achieve the strategic and other objectives relating to the acquisition of Spartech Corporation, including any expected synergies; our
ability to successfully integrate Spartech and achieve the expected results of the acquisition, including, without limitation, the acquisition being
accretive;
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;
The financial condition of our customers, including the ability of customers (especially those that may be highly leveraged and those with inadequate
liquidity) to maintain their credit availability;
The speed and extent of an economic recovery, including the recovery of the housing market;
Our ability to achieve new business gains;
The amount and timing of repurchases, if any, of PolyOne common shares and our ability to pay regular quarterly cash dividends and the amounts and
timing of any future dividends;
The effect on foreign operations of currency fluctuations, tariffs, and other political, economic and regulatory risks;
Changes in polymer consumption growth rates in the markets 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, employee productivity goals, and an inability to raise or sustain prices for products or services;
An inability to maintain appropriate relations with unions and employees; 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.
• The above list of factors is not exhaustive.
• We undertake no obligation to publicly update forward-looking statements, whether as a result of new information, future events or otherwise.
The non-GAAP financial measures
include: adjusted EPS, earnings before interest, tax, depreciation and
amortization (EBITDA), adjusted EBITDA, net debt, Specialty platform operating
income, Specialty platform gross margin percentage, adjusted operating income,
return on invested capital, net debt/ EBITDA, and the exclusion of corporate
charges in certain calculations.
Adjusted EPS 2006Y 2007Y 2008Y 2009Y 2010Y*** 2011Y*** 2012Y***
*Net Income attributable to PolyOne common
shareholders $ 130.9 $ 40.9 $ (417.0) $ 106.7 $ 152.5 $ 153.4 $ 53.3
SunBelt equity earnings, after tax (68.5) (26.1) (20.8) (19.0) (14.7) (3.7) -
Special items, after tax (21.2) 41.4 310.0 (31.0) 15.8 (30.5) 35.7
Tax adjustments (30.0) (30.7) 147.2 (44.9) (88.3) (42.3) 0.5
Adjusted net income $ 11.2 $ 25.5 $ 19.4 $ 11.8 $ 65.3 $ 76.9 $ 89.5
Diluted shares 92.8 93.1 92.7 93.4 96.0 94.3 89.8
Adjusted EPS $ 0.12 $ 0.27 $ 0.21 $ 0.13 $ 0.68 $ 0.82 $ 1.00
*** Restated results to exclude the Resin business.