https://www.avient.com/news/avient-features-specialty-healthcare-material-solutions-services-mdm-west-2022
April 11, 2022
ANAHEIM, Calif. – April 11, 2022 – Avient Corporation, a premier provider of specialized and sustainable material solutions and services, will exhibit in person this week at Medical Design & Manufacturing (MD&M) West and highlight several technologies, including the recently launched Colorant Chromatics™ Transcend™ premier healthcare colorants and the online platform called Avient Now.
https://www.avient.com/sites/default/files/2022-04/Avient Q1 2022 Earnings Release.pdf
AVNT-2022.03.31-News Release 1 NEWS RELEASE FOR IMMEDIATE RELEASE Avient Announces First Quarter 2022 Results in Connection with Announcement to Acquire DSM Protective Materials (Dyneema®) • First quarter sales grew to $1.3 billion, an 11% increase over the prior year • GAAP EPS increased to $0.91 from $0.86 in the prior year first quarter • Adjusted EPS increased 11% to $0.99 compared to $0.89 in the prior year first quarter, exceeding first quarter guidance of $0.95 • Second quarter adjusted EPS guidance of $0.92 introduced with full year adjusted EPS expectation maintained at $3.50 (excluding the impact of the acquisition) • Full year free cash flow now expected to approximate $285 million, an increase of $35 million from prior estimates CLEVELAND – April 20, 2022 – Avient Corporation (NYSE: AVNT), a leading provider of specialized and sustainable material solutions, today announced its first quarter 2022 results.
Sales increased 11% to $1.3 billion in the first quarter and adjusted EPS grew 11% to $0.99 over the prior year first quarter.
Three Months Ended March 31, 2022 2021 Sales: Color, Additives and Inks $ 649.5 $ 609.3 Specialty Engineered Materials 244.7 216.5 Distribution 432.9 362.7 Corporate and eliminations (33.3) (26.2) Sales $ 1,293.8 $ 1,162.3 Gross margin: Color, Additives and Inks $ 192.1 $ 197.5 Specialty Engineered Materials 69.8 64.7 Distribution 39.3 39.3 Corporate and eliminations (7.5) 0.9 Gross margin $ 293.7 $ 302.4 Selling and administrative expense: Color, Additives and Inks $ 97.6 $ 108.7 Specialty Engineered Materials 30.1 30.5 Distribution 15.1 15.3 Corporate and eliminations 22.3 27.5 Selling and administrative expense $ 165.1 $ 182.0 Operating income: Color, Additives and Inks $ 94.5 $ 88.8 Specialty Engineered Materials 39.7 34.2 Distribution 24.2 24.0 Corporate and eliminations (29.8) (26.6) Operating income $ 128.6 $ 120.4 Earnings before interest, taxes, depreciation and amortization (EBITDA): Color, Additives and Inks $ 120.5 $ 116.2 Specialty Engineered Materials 47.5 42.0 Distribution 24.4 24.2 Corporate and eliminations (26.0) (24.9) Other income, net (0.6) 1.5 EBITDA $ 165.8 $ 159.0 11 Attachment 7 Avient Corporation Reconciliation of Non-GAAP Financial Measures (Unaudited) (In millions, except per share data) Senior management uses gross margin before special items and operating income before special items to assess performance and allocate resources because senior management believes that these measures are useful in understanding current profitability levels and how it may serve as a basis for future performance.