https://www.avient.com/sites/default/files/2024-05/AVNT Q1 2024 Earnings Press Release_0.pdf
AVNT-2024.03.31-News Release
1
NEWS RELEASE
FOR IMMEDIATE RELEASE
Avient Announces First Quarter 2024 Results
• First quarter GAAP EPS from continuing operations of $0.54 compared to $0.23 in the
prior year quarter
• First quarter adjusted EPS of $0.76 exceeded guidance of $0.68 primarily as a result of
better-than-expected customer demand from defense applications and lower raw
material costs
• First quarter adjusted EPS increased 21% over the prior year driven by improved
margins from lower raw material costs and favorable mix, and lower net interest
expense
• Revised 2024 full-year adjusted EPS guidance range to $2.50 to $2.65, from prior
guidance of $2.40 to $2.65 given strong first quarter results; Revised full-year guidance
range reflects 6% to 12% growth in adjusted EPS over the prior year
CLEVELAND – May 7, 2024 – Avient Corporation (NYSE: AVNT), a leading provider of
specialized and sustainable materials solutions, today announced its first quarter results for
2024.
https://www.avient.com/news-events
https://www.avient.com/
4
Forward-looking Statements
In this press release, 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.
Three Months Ended
March 31,
Reconciliation to Consolidated Statements of Income 2024 2023
Sales $ 829.0 $ 845.7
Gross margin - GAAP 278.2 247.6
Special items in gross margin (Attachment 3) 0.4 8.0
Adjusted gross margin $ 278.6 $ 255.6
Adjusted gross margin as a percent of sales 33.6 % 30.2 %
Operating income - GAAP 94.0 57.1
Special items in operating income (Attachment 3) 6.2 27.1
Adjusted operating income $ 100.2 $ 84.2
Adjusted operating income as a percent of sales 12.1 % 10.0 %
Three Months Ended
March 31,
Reconciliation to EBITDA and Adjusted EBITDA: 2024 2023
Net income from continuing operations - GAAP $ 49.7 $ 21.3
Income tax expense 16.8 7.7
Interest expense, net 26.6 28.8
Depreciation and amortization 44.3 50.5
EBITDA from continuing operations 137.4 108.3
Special items, before tax 6.2 27.3
Depreciation and amortization included in special items (0.5) (1.8)
Adjusted EBITDA $ 143.1 $ 133.8
Adjusted EBITDA as a percent of sales 17.3 % 15.8 %
Year Ended
December 31, 2023
Reconciliation to Condensed Consolidated Statements of Income $ EPS
Net income from continuing operations attributable to Avient shareholders $ 75.8 $ 0.83
Special items, after-tax 79.3 0.86
Amortization expense, after-tax 61.5 0.67
Adjusted net income / EPS $ 216.6 $ 2.36
13
Three Months Ended
June 30, 2023
Reconciliation to Condensed Consolidated Statements of Income $ EPS
Net income from continuing operations attributable to Avient shareholders $ 22.1 $ 0.24
Special items, after-tax 19.6 0.21
Amortization expense, after-tax 16.2 0.18
Adjusted net income / EPS $ 57.9 $ 0.63
NEWS RELEASE
Attachment 1
https://www.avient.com/sites/default/files/2021-12/avient-investor-day-registration-details21.pdf
AVNT-2021.06.30-News Release
1
NEWS RELEASE
FOR IMMEDIATE RELEASE
Avient Announces Registration Details for December 9th Investor Day
CLEVELAND – November 3, 2021 – Avient Corporation (NYSE: AVNT), a leading provider of
specialized and sustainable material solutions, will host an Investor Day for investment
professionals on Thursday, December 9, 2021, from 8:00 a.m. to 1:00 p.m., at the New York
Marriott Marquis hotel.
Rose
Vice President, Corporate Communications
Avient Corporation
+1 440-930-3162
kyle.rose@avient.com
http://www.avient.com/
http://www.avient.com/news
mailto:giuseppe.disalvo@avient.com
mailto:kyle.rose@avient.com
NEWS RELEASE
https://www.avient.com/sites/default/files/2021-04/avnt-fourth-quarter-2020-news-release.pdf
NEWS RELEASE
FOR IMMEDIATE RELEASE
Avient Announces Fourth Quarter and Full Year 2020 Results
and Provides Guidance for 2021
Fourth Quarter Results
• GAAP EPS from continuing operations of $0.81 compared to $0.08 in the prior year quarter
• Record fourth quarter adjusted EPS of $0.52 increased 73% compared to $0.30 pro forma*
in the prior year, driven by strong organic revenue growth in all segments, improved
operating margins and synergy capture from the Clariant Masterbatch acquisition
• Increased dividend for the 10th consecutive year to $0.85 a share on an annualized basis
Full Year Results
• Completed transformational Clariant Masterbatch acquisition and renamed the company as
Avient
• GAAP EPS from continuing operations of $1.46 compared to $0.97 in the prior year
• Adjusted EPS increased 11% to $1.93 pro forma, on strength in healthcare, packaging and
consumer end markets
• Specialty Engineered Materials (SEM) segment delivered record operating income of $94
million, driven by growth in composites and demand for outdoor high performance
applications
CLEVELAND – February 9, 2021 – Avient Corporation (NYSE: AVNT), a leading provider of
specialized and sustainable material solutions, today reported its full year and fourth quarter
results for 2020.
# #
3
Forward-looking Statements
In this press release, 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.
https://www.avient.com/investor-center/news/avient-announces-commencement-650-million-senior-notes-offering
This news release does not constitute a notice of redemption pursuant to the terms of the 2025 senior notes.
Certain statements contained in this news release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995.
View original content to download multimedia:https://www.prnewswire.com/news-releases/avient-announces-commencement-of-650-million-senior-notes-offering-302239346.html
https://www.avient.com/industries/consumer/consumer-discretionary/outdoor-recreation/shooting-sports
Composite Heat Release Technology
Composite Heat Release Technology for Firearm Barrels
Composite Heat Release Technology
https://www.avient.com/industries/packaging/food-packaging/condiments
Overmolding and Stain Resistance Wireless Power Bank
Customized Versaflex™ CE grade provides an over molding solution with stain resistance for wireless power bank
https://www.avient.com/industries/packaging/food-packaging/shelf-stable-food
Overmolding and Stain Resistance Wireless Power Bank
Customized Versaflex™ CE grade provides an over molding solution with stain resistance for wireless power bank
https://www.avient.com/sites/default/files/2021-06/colormatrix-oxygen-scavengers-brochure.pdf
They can be run
on standard injection machines, providing
easy installation for quick and cost effective
processing.
https://www.avient.com/sites/default/files/2023-10/Nonwoven Colorants and Additives Brochure_A4.pdf
Avient
offers a selection of cost effective
colorants for quick and reliable
coloration of polypropylene nonwovens
in spunbond and meltblown processes.
https://www.avient.com/sites/default/files/2022-04/Avient Announces Agreement to Acquire Dyneema_0.pdf
AVNT-2022.03.31-News Release - Dyneema
1
NEWS RELEASE
FOR IMMEDIATE RELEASE
Avient Announces Agreement to Acquire DSM Protective Materials
(Dyneema®) and Plans to Explore Sale of Distribution
CLEVELAND – April 20, 2022 – Avient Corporation (NYSE: AVNT), a leading provider of
specialized and sustainable material solutions, today announced that it has entered into an
agreement with Royal DSM (“DSM”) to purchase the DSM Protective Materials business
(including the Dyneema® brand) (the “Dyneema business”).
# #
http://www.avient.com/investors
https://edge.media-server.com/mmc/p/edkwvu9r
https://edge.media-server.com/mmc/p/edkwvu9r
http://www.avient.com/investors
https://www.avient.com/
4
Forward-looking Statements
In this press release, 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.
Rose
Vice President, Corporate Communications
Avient Corporation
+1 440-930-3162
kyle.rose@avient.com
mailto:giuseppe.disalvo@avient.com
mailto:kyle.rose@avient.com
NEWS RELEASE