https://www.avient.com/sites/default/files/2024-05/AVNT Q1 2024 Earnings Press Release_0.pdf
Examples include:
• Dyneema®, the world’s strongest fiber™, enables unmatched levels of performance
and protection for end-use applications, including ballistic personal protection, marine
and sustainable infrastructure and outdoor sports
• Unique technologies that improve the recyclability of products and enable recycled
content to be incorporated, thus advancing a more circular economy
• Light-weighting solutions that replace heavier traditional materials like metal, glass
and wood, which can improve fuel efficiency in all modes of transportation and reduce
carbon footprint
• Sustainable infrastructure solutions that increase energy efficiency, renewable
energy, natural resource conservation and fiber optic / 5G network accessibility
Avient is certified ACC Responsible Care®, a founding member of the Alliance to End Plastic
Waste and certified Great Place to Work®.
Three Months Ended
March 31,
2024 2023
Reconciliation to Condensed Consolidated Statements of Income $ EPS $ EPS
Net income from continuing operations attributable to Avient shareholders $ 49.4 $ 0.54 $ 20.8 $ 0.23
Special items, after-tax (Attachment 3) 5.5 0.06 22.3 0.24
Amortization expense, after-tax 14.9 0.16 15.1 0.16
Adjusted net income / EPS $ 69.8 $ 0.76 $ 58.2 $ 0.63
7
Attachment 2
Avient Corporation
Condensed Consolidated Statements of Income (Unaudited)
(In millions, except per share data)
Three Months Ended
March 31,
2024 2023
Sales $ 829.0 $ 845.7
Cost of sales 550.8 598.1
Gross margin 278.2 247.6
Selling and administrative expense 184.2 190.5
Operating income 94.0 57.1
Interest expense, net (26.6) (28.8)
Other (expense) income, net (0.9) 0.7
Income from continuing operations before income taxes 66.5 29.0
Income tax expense (16.8) (7.7)
Net income from continuing operations 49.7 21.3
Loss from discontinued operations, net of income taxes — (0.9)
Net income 49.7 20.4
Net income attributable to noncontrolling interests (0.3) (0.5)
Net income attributable to Avient common shareholders $ 49.4 $ 19.9
Earnings (loss) per share attributable to Avient common shareholders - Basic:
Continuing operations $ 0.54 $ 0.23
Discontinued operations — (0.01)
Total $ 0.54 $ 0.22
Earnings (loss) per share attributable to Avient common shareholders - Diluted:
Continuing operations $ 0.54 $ 0.23
Discontinued operations — (0.01)
Total $ 0.54 $ 0.22
Cash dividends declared per share of common stock $ 0.2575 $ 0.2475
Weighted-average shares used to compute earnings per common share:
Basic 91.2 91.0
Diluted 92.0 91.8
8
Attachment 3
Avient Corporation
Summary of Special Items (Unaudited)
(In millions, except per share data)
Special items (1)
Three Months Ended
March 31,
2024 2023
Cost of sales:
Restructuring costs, including accelerated depreciation $ 3.6 $ (6.6)
Environmental remediation costs (4.0) (1.4)
Impact on cost of sales (0.4) (8.0)
Selling and administrative expense:
Restructuring and employee separation costs (0.7) (11.3)
Legal and other (3.5) (4.4)
Acquisition related costs (1.6) (3.4)
Impact on selling and administrative expense (5.8) (19.1)
Impact on operating income (6.2) (27.1)
Other income (loss), net — (0.2)
Impact on income from continuing operations before income taxes (6.2) (27.3)
Income tax benefit on above special items 1.4 6.9
Tax adjustments(2) (0.7) (1.9)
Impact of special items on net income from continuing operations $ (5.5) $ (22.3)
Diluted earnings per common share impact $ (0.06) $ (0.24)
Weighted average shares used to compute adjusted earnings per share:
Diluted 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 the
divestiture of operating businesses, 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/resources/PolyOne%25202015%2520Annual%2520Report.pdf
We immediately recognize actuarial
gains and losses in our operating results in
the year in which the gains or losses occur.
Gains and losses on these contracts generally
offset gains and losses on the assets and liabilities being hedged.
We immediately recognize actuarial gains and losses in
our operating results in the year in which the gains or losses occur.
https://www.avient.com/resource-center?document_type=59&document_subtype=127&industry=0&product_family=1688&product_subfamily=0&product_name=0&op=FILTER RESULTS&form_build_id=form-eABbCwp28m0LYQS3A8tRxIzSVnbqlh1x6IrU-oy_f-k&form_id=resource_filter_form
Complēt™ long carbon fiber (LCF) composites replaced aluminum to reduce weight and enable design freedom for a wheelchair OEM
Complēt™ long carbon fiber reinforced nylon composite replaced metal steering column supports and lowered weight by 50%
Complēt™ long glass fiber reinforced nylon composite supports the weight of a 25-pound motor without creep while being lower in weight and less costly to produce
https://www.avient.com/investor-center/news/polyone-announces-second-quarter-2019-results
Light-weighting solutions that replace heavier traditional materials like metal, glass and wood, which can improve fuel efficiency in all modes of transportation
Weighted-average shares used to compute earnings per common share:
Weighted average shares used to compute adjusted earnings per share: