Core Viewpoint - Avient Corporation reported strong second quarter results for 2024, with sales reaching $850 million, a 3% increase year-over-year, and a 5% organic growth excluding foreign exchange impacts. The company also raised its full-year adjusted EPS guidance due to robust performance across all regions and segments [1][4]. Financial Performance - Second quarter sales were $849.7 million compared to $824.4 million in the prior year quarter, marking a 3% increase [1]. - GAAP EPS from continuing operations was $0.36, up from $0.24 in the prior year quarter, while adjusted EPS was $0.76, exceeding guidance of $0.71 and increasing 21% year-over-year [2][4]. - The company increased its full-year adjusted EPS guidance to a range of $2.55 to $2.70, reflecting an 8% to 14% growth over the previous year [1][4]. Segment Performance - The Color, Additives and Inks segment and the Specialty Engineered Materials segment both contributed to consolidated sales growth, with particular success in packaging and consumer markets [3]. - Organic sales growth was reported across all regions, with the US and Canada growing by 5% and Latin America by 19% [3]. Sustainability Initiatives - Avient published its 2023 Sustainability Report, highlighting progress towards its 2030 Sustainability Goals and improved ESG performance ratings, including a Gold rating from Ecovadis and an A- from CDP [5]. Future Outlook - The company anticipates adjusted EPS of $0.62 for the third quarter, a 9% increase over the prior year, and expects continued organic sales growth in both segments [4]. - An Investor Day is scheduled for December 4th in New York City to discuss the company's strategy [1][4].

Avient Second Quarter 2024 Financial Results [Financial & Operational Highlights](index=1&type=section&id=Financial%20%26%20Operational%20Highlights) Avient reported strong second-quarter 2024 results, with a 3% increase in sales to $850 million and a 5% organic increase, as adjusted EPS of $0.76 significantly beat guidance and grew 21% year-over-year, driven by broad-based organic revenue growth, favorable input costs, and lower interest expense, marking the first consolidated sales expansion in seven quarters Q2 2024 Key Financial Metrics vs. Q2 2023 | Metric | Q2 2024 | Q2 2023 | Change | | :--- | :--- | :--- | :--- | | Sales | $849.7M | $824.4M | +3.1% | | GAAP EPS (from continuing operations) | $0.36 | $0.24 | +50.0% | | Adjusted EPS | $0.76 | $0.63 | +20.6% | - Organic sales grew **5%** year-over-year when excluding the impact of foreign exchange[1](index=1&type=chunk) - Consolidated sales expanded for the first time in seven quarters, with contributions from both the Color, Additives and Inks, and Specialty Engineered Materials segments[3](index=3&type=chunk) [Management Commentary](index=1&type=section&id=Management%20Commentary) Management highlighted broad-based growth across all geographic regions and most end markets, with particular success in the packaging and consumer sectors, as all regions delivered year-over-year organic sales growth, led by strong performance in the Americas, which benefited from improving demand, new specifications, and market share gains Q2 2024 Regional Organic Sales Growth (YoY) | Region | Organic Sales Growth | | :--- | :--- | | Latin America | 19% | | US and Canada | 5% | | EMEA | 4% | | Asia | 1% | - Growth was driven by improving underlying demand trends and winning new specifications, particularly in the Americas[4](index=4&type=chunk) - Growth in Europe and Asia was largely attributed to restocking and share gains, especially in the packaging end market[4](index=4&type=chunk) [2024 Business Outlook](index=2&type=section&id=2024%20Business%20Outlook) Avient has raised its full-year 2024 guidance due to strong second-quarter results, now expecting full-year adjusted EPS to be between $2.55 and $2.70, and third-quarter adjusted EPS projected at $0.62, representing a 9% increase over the prior year - Third-quarter 2024 adjusted EPS is expected to be **$0.62**, a **9%** increase year-over-year[5](index=5&type=chunk) Full-Year 2024 Updated Guidance | Metric | Revised Guidance | Prior Guidance | | :--- | :--- | :--- | | Adjusted EBITDA | $515M - $540M | $510M - $535M | | Adjusted EPS | $2.55 - $2.70 | $2.50 - $2.65 | - The revised full-year adjusted EPS guidance reflects an **8% to 14%** growth over the prior year[1](index=1&type=chunk) [Corporate Updates](index=1&type=section&id=Corporate%20Updates) Avient has published its 2023 Sustainability Report, showcasing progress towards its 2030 goals and upgraded ESG ratings, and announced it will host an Investor Day on December 4, 2024, in New York City to discuss its strategy - The company released its 2023 Sustainability Report, highlighting upgraded ratings to **Gold** from Ecovadis and **A-** from CDP[7](index=7&type=chunk) - An Investor Day will be held on **December 4, 2024**, in New York City to highlight the company's strategy[1](index=1&type=chunk)[5](index=5&type=chunk) Financial Statements & Reconciliations [Consolidated Statements of Income](index=7&type=section&id=Consolidated%20Statements%20of%20Income) For the second quarter of 2024, sales increased to $849.7 million from $824.4 million in the prior-year period, with operating income growing to $72.5 million and net income attributable to Avient shareholders rising to $33.6 million, or $0.36 per diluted share Condensed Consolidated Statements of Income (in millions, except per share data) | Metric | Q2 2024 | Q2 2023 | Six Months 2024 | Six Months 2023 | | :--- | :--- | :--- | :--- | :--- | | Sales | $849.7 | $824.4 | $1,678.7 | $1,670.1 | | Gross Margin | $257.6 | $240.7 | $535.8 | $488.3 | | Operating Income | $72.5 | $62.3 | $166.5 | $119.4 | | Net Income (to Avient shareholders) | $33.6 | $22.1 | $83.0 | $42.0 | | Diluted EPS (from continuing ops) | $0.36 | $0.24 | $0.90 | $0.47 | [Consolidated Balance Sheets](index=10&type=section&id=Consolidated%20Balance%20Sheets) As of June 30, 2024, Avient's total assets were $5.91 billion, with cash and cash equivalents at $489.4 million (a decrease from $545.8 million at the end of 2023), total debt at approximately $2.08 billion, and total shareholders' equity at $2.33 billion Key Balance Sheet Items (in millions) | Account | June 30, 2024 | Dec 31, 2023 | | :--- | :--- | :--- | | Cash and cash equivalents | $489.4 | $545.8 | | Total current assets | $1,459.1 | $1,407.6 | | Total assets | $5,907.8 | $5,968.5 | | Total current liabilities | $1,498.2 | $773.6 | | Long-term debt | $1,420.8 | $2,070.5 | | Total equity | $2,334.2 | $2,338.0 | [Consolidated Statements of Cash Flows](index=11&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) For the first six months of 2024, the company generated $63.1 million in cash from operating activities, a significant turnaround from a $24.7 million use of cash in the same period of 2023, with cash used in investing and financing activities at $54.5 million and $54.8 million, respectively, leading to a net decrease in cash of $56.4 million Six Months Ended June 30 Cash Flow Summary (in millions) | Activity | 2024 | 2023 | | :--- | :--- | :--- | | Net cash provided (used) by operating activities | $63.1 | $(24.7) | | Net cash used by investing activities | $(54.5) | $(38.6) | | Net cash used by financing activities | $(54.8) | $(48.3) | | **Decrease in cash and cash equivalents** | **$(56.4)** | **$(112.4)** | [Business Segment Performance](index=12&type=section&id=Business%20Segment%20Performance) In the second quarter of 2024, both of Avient's segments demonstrated year-over-year growth, with the Color, Additives and Inks segment's sales increasing to $542.0 million and operating income rising to $86.1 million, while the Specialty Engineered Materials segment also grew, with sales of $308.1 million and operating income of $42.8 million Q2 2024 Segment Performance vs. Q2 2023 (in millions) | Segment | Metric | Q2 2024 | Q2 2023 | | :--- | :--- | :--- | :--- | | **Color, Additives and Inks** | Sales | $542.0 | $524.5 | | | Operating Income | $86.1 | $68.0 | | **Specialty Engineered Materials** | Sales | $308.1 | $300.8 | | | Operating Income | $42.8 | $39.7 | [Non-GAAP Reconciliations](index=7&type=section&id=Non-GAAP%20Reconciliations) The company's Q2 2024 adjusted EPS of $0.76 was reconciled from a GAAP EPS of $0.36 by excluding $0.24 per share in special items and $0.16 per share in amortization expense, with adjusted EBITDA for the quarter at $143.3 million, up from $131.3 million year-over-year, and an adjusted EBITDA margin of 16.9% Q2 2024 GAAP to Adjusted EPS Reconciliation | Item | Per Share Amount | | :--- | :--- | | GAAP Diluted EPS from continuing operations | $0.36 | | Special items, after-tax | $0.24 | | Amortization expense, after-tax | $0.16 | | **Adjusted EPS** | **$0.76** | Q2 2024 Adjusted EBITDA Reconciliation (in millions) | Item | Q2 2024 | Q2 2023 | | :--- | :--- | :--- | | EBITDA from continuing operations | $116.5 | $109.7 | | Special items, before tax | $28.1 | $21.7 | | Adjustments for Interest & D&A in special items | $(1.3) | $(0.1) | | **Adjusted EBITDA** | **$143.3** | **$131.3** | - Special items before tax in Q2 2024 totaled **$28.1 million**, primarily consisting of environmental remediation costs, restructuring charges, and legal costs[27](index=27&type=chunk)

Chemical companies’ second-quarter results are expected to reflect the benefit from an uptick in demand in certain key markets, including consumer durables and building & construction, as the unprecedented customer inventory de-stocking that started in late 2022 and weighed heavily on the industry through the first quarter of 2024 has run its course. The results of these companies are also likely to have been supported by pricing and cost-saving actions and lower raw material costs. We have handpicked a few ...

Group 1 - Avient Corporation plans to release its second quarter 2024 earnings on August 6, 2024, before the market opens [1] - A webcast with a slide presentation will be held at 8:00 a.m. Eastern Time on the same day, allowing participants to engage in a question and answer session [1] - The webcast will be accessible live and a recording will be available for one year following the event [1] Group 2 - Avient Corporation specializes in sustainable materials solutions, transforming customer challenges into opportunities [2] - The company offers products like Dyneema®, which is recognized as the world's strongest fiber, and technologies that enhance recyclability and support a circular economy [2] - Avient's lightweighting solutions aim to replace traditional materials, improving fuel efficiency and reducing carbon footprints across transportation modes [2] - The company is committed to sustainable infrastructure, focusing on energy efficiency, renewable energy, and enhancing accessibility to fiber optic and 5G networks [2]

Have you been searching for a stock that might be well-positioned to maintain its earnings-beat streak in its upcoming report? It is worth considering Avient (AVNT) , which belongs to the Zacks Chemical - Diversified industry.When looking at the last two reports, this maker of resins used in plastic pipe and other products has recorded a strong streak of surpassing earnings estimates. The company has topped estimates by 10.39%, on average, in the last two quarters.For the last reported quarter, Avient came ...

Investors in Avient Corporation (AVNT) need to pay close attention to the stock based on moves in the options market lately. That is because the Sept 20, 2024 $20 Put had some of the highest implied volatility of all equity options today.What is Implied Volatility?Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could also ...

All investors love getting big returns from their portfolio, whether it's through stocks, bonds, ETFs, or other types of securities. But for income investors, generating consistent cash flow from each of your liquid investments is your primary focus.While cash flow can come from bond interest or interest from other types of investments, income investors hone in on dividends. A dividend is that coveted distribution of a company's earnings paid out to shareholders, and investors often view it by its dividend ...

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 March 31, 2024 OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 | --- | --- | |---------------------------------------------------------------------------- ...

Avient Corporation (NYSE:AVNT) Q1 2024 Earnings Conference Call May 7, 2024 8:00 AM ET Company Participants Joe Di Salvo - Vice President, Treasurer and Investor Relations Ashish Khandpur - President and Chief Executive Officer Jamie Beggs - Senior Vice President and Chief Financial Officer Conference Call Participants Frank Mitsch - Fermium Research Laurence Alexander - Jefferies Mike Harrison - Seaport Research Partners Michael Sison - Wells Fargo David Huang - Deutsche Bank Kristen Owen - Oppenheimer Vin ...

For the quarter ended March 2024, Avient (AVNT) reported revenue of $829 million, down 2% over the same period last year. EPS came in at $0.76, compared to $0.63 in the year-ago quarter.The reported revenue represents a surprise of +0.43% over the Zacks Consensus Estimate of $825.45 million. With the consensus EPS estimate being $0.69, the EPS surprise was +10.14%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next ...