Avient Corporation (NYSE:AVNT) Q4 2020 Results Earnings Conference Call February 9, 2021 9:00 AM ET Company Participants Joe Di Salvo - Vice President, Treasurer and IR Bob Patterson - Chairman, President and CEO Jamie Beggs - Senior Vice President and CFO Conference Call Participants Mike Sison - Wells Fargo Bob Koort - Goldman Sachs Frank Mitsch - Fermium Research Angel Castillo - Morgan Stanley P.J. Juvekar - Citi Mike Harrison - Seaport Global Research Securities Ben Kallo - Baird Colin Rusch - Oppenhei ...

Financial Data and Key Metrics Changes - The company reported third quarter adjusted EPS of $0.54, excluding the impact of purchase accounting step-up depreciation and amortization, and $0.46 inclusive of the step-up D&A, which is $0.03 better than expected and exceeds last year's $0.44 [8][13] - Total company revenue increased by $219 million to $925 million, primarily due to the Clariant Masterbatch acquisition [13] - Adjusted free cash flow for the third quarter was $107 million, exceeding estimates, with a full year projection increased to $270 million [20] Business Line Data and Key Metrics Changes - The Specialty Engineered Materials (SEM) segment achieved record third quarter operating income of nearly $25 million, a 27% increase over last year, driven by strong demand for composites [10][17] - The Color business reported $77 million in EBITDA, with the Clariant Masterbatch acquisition contributing $33 million, offset by pandemic-related weakness in automotive and inks [18] - The Distribution segment's sales were down 6% in the third quarter, but volumes remained flat year-over-year, indicating improved demand in automotive and consumer discretionary markets [19] Market Data and Key Metrics Changes - In the Americas, sales declined 7% in the third quarter compared to 21% in the second quarter, reflecting a recovery in automotive production and increased demand for consumer discretionary applications [16] - European pro forma sales were down 14%, a modest improvement from a 18% decline in the second quarter, with the pandemic significantly impacting automotive and industrial markets [15] - Asia businesses grew 11% over the prior year third quarter, with strong demand in health care applications related to COVID-19 [16] Company Strategy and Development Direction - The company is focused on integrating the Clariant Masterbatch business and has increased its synergy target from $60 million to $75 million due to positive integration progress [9] - The strategic emphasis is on higher value end markets such as packaging, consumer, and health care, which now represent nearly 60% of total sales [9] - The company aims to maintain operational efficiency and cash generation through effective working capital management [20] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the economic recovery based on October and November orders, despite ongoing uncertainties related to COVID-19 [24] - The company anticipates a fourth quarter adjusted EPS of $0.40, which is 17% higher than the previous year, indicating confidence in the quality of its portfolio [25] - Management acknowledged the challenges posed by the pandemic but emphasized the strength of their diverse portfolio and the successful integration of Clariant [22][27] Other Important Information - The company published its second sustainability report, detailing performance on ESG matters and setting sustainability goals for 2030 [23] - The company is a founding member of the Alliance to End Plastic Waste, contributing to global efforts to eliminate plastic waste [24] Q&A Session Summary Question: Free cash flow and potential buybacks - Management indicated that once net debt leverage is below 3x, they could consider share buybacks [35] Question: Fourth quarter inventory management - Management noted that December is unpredictable, but they have a conservative estimate for EBITDA growth [37][38] Question: Clariant business seasonality and revenue trends - Management stated that Clariant's performance in Q4 would likely mirror historical trends, with some COVID-related impacts [40][41] Question: Growth potential for 2021 - Management refrained from providing specific guidance but indicated synergy expectations of $30 million run rate by the end of next year [46] Question: Impact of 5G on sales - Management noted that 5G is just starting to impact sales, with expectations for growth as more locations adopt the technology [78] Question: Automotive production outlook - Management expressed a positive outlook for North American auto production, contrasting it with a slower recovery in Europe [80]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________________________________ FORM 10-Q ________________________________________________ (Mark One) ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended September 30, 2020 OR ________________________________________________ ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to . Co ...

Avient Corporation (NYSE:AVNT) Q2 2020 Earnings Conference Call July 22, 2020 8:00 AM ET Company Participants Joe Di Salvo - Vice President, Treasurer and Investor Relations Bob Patterson - Chairman, President and Chief Executive Officer Brad Richardson - Executive Vice President and Chief Financial Officer Conference Call Participants Mike Harrison - Seaport Global Vincent Andrews - Morgan Stanley Mike Sison - Wells Fargo Frank Mitsch - Fermium Research Lawrence Alexander - Jefferies Colin Rusch - Oppenhei ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________________________________ FORM 10-Q ________________________________________________ (Mark One) ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended June 30, 2020 OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to . | --- | --- | |----------------------------------------- ...

PolyOne Corporation (POL) Second Quarter Performance Update Conference Call Summary Company Overview - **Company**: PolyOne Corporation (POL) - **Date of Call**: June 16, 2020 - **Participants**: - Joe Di Salvo - Vice President, Treasurer, and Investor Relations - Bob Patterson - Chairman, President and Chief Executive Officer - Brad Richardson - Executive Vice President, and Chief Financial Officer Core Industry Insights - **Industry Impact**: The COVID-19 pandemic has significantly affected demand across various sectors, particularly in automotive and consumer discretionary items, while healthcare and packaging have shown resilience and growth during this period [7][12][14]. Key Financial Performance Metrics - **Sales Decline**: - April sales were down 15% due to the pandemic, with an expected overall sales decline of 20% for the quarter [11][12]. - Automotive-related sales, while only 10% of total sales, accounted for nearly 40% of the second quarter sales decline [11]. - Specific segment declines: Color down 16.5%, Engineered Materials (EM) down 18%, and Distribution down 23% [23]. - **Adjusted EPS**: Expected to be approximately $0.36 compared to $0.48 in the same quarter last year; adjusted EPS could be $0.26 when accounting for additional shares and interest expenses [14][15]. - **Free Cash Flow**: Anticipated strong free cash flow generation of $65 million for the quarter, with an ending cash balance of $1.95 billion [15]. Operational Adjustments - **Facility Operations**: Most facilities deemed essential remained operational, with strict health protocols in place. Five facilities temporarily ceased operations due to local regulations [7][9]. - **Remote Work**: Associates who can work from home continue to do so, adapting well to remote operations [9]. Market Trends and Demand - **Healthcare and Packaging**: Strong demand in these sectors, with expected growth of 5% and 8% respectively for the quarter [12][49]. - **Regional Performance**: - Europe expected to see a 27% decline in sales, while the Americas down about 20%. - Asia, primarily China, expected to be up about 10% [14]. Clariant Acquisition Update - **Acquisition Status**: The acquisition of Clariant is expected to close on July 1, 2020, with all necessary regulatory approvals received [15][16]. - **Synergy Planning**: Contingency plans are in place to achieve synergies despite travel restrictions, with expectations to hit the ground running post-acquisition [25][26]. Risks and Concerns - **Customer Financial Health**: Some customers are in precarious financial positions due to the pandemic, leading to increased reserves for bad debts [42]. - **Potential for Second Lockdown**: Concerns about a resurgence of COVID-19 cases could impact operations and demand, particularly in China [45][48]. Conclusion - PolyOne Corporation is navigating the challenges posed by the COVID-19 pandemic with a focus on essential markets such as healthcare and packaging. The company is preparing for the upcoming Clariant acquisition while managing operational adjustments and financial performance amidst a volatile market environment [7][15][16].