CLEVELAND, Oct. 3, 2024 /PRNewswire/ -- Avient Corporation (NYSE: AVNT), a leading provider of specialized and sustainable materials solutions, intends to release its third quarter 2024 earnings before the market opens on Thursday, October 31, 2024.  The company will then host a webcast with a slide presentation at 8:00 a.m. Eastern Time on Thursday, October 31, 2024.The webcast can be viewed live at avient.com/investors, or by clicking on the webcast link here.  Conference call participants in the question ...

Avient Corporation’s (AVNT) shares reached a fresh 52-week high of $51.51 on Sept. 27 before closing at $50.41.In the past year, the stock has appreciated 44.9% compared with the industry’s 6.1% growth in the same period.Image Source: Zacks Investment ResearchWhat’s Driving Avient?Avient is optimistic about maintaining its strong momentum from the second quarter throughout the remainder of 2024. It continues to focus on its growth strategy, emphasizing innovative materials and processing solutions that alig ...

Company Overview - Avient (AVNT) is headquartered in Avon Lake and operates in the Basic Materials sector [2] - The stock has experienced a price change of 8.25% since the beginning of the year [2] Dividend Information - Avient currently pays a dividend of $0.26 per share, resulting in a dividend yield of 2.29%, which is higher than the Chemical - Diversified industry's yield of 1.92% and the S&P 500's yield of 1.58% [2] - The annualized dividend of $1.03 represents a 3% increase from the previous year [2] - Over the last 5 years, Avient has increased its dividend 5 times, averaging an annual increase of 6.56% [2] - The current payout ratio is 39%, indicating that Avient paid out 39% of its trailing 12-month EPS as dividends [2] Earnings Growth - The Zacks Consensus Estimate for Avient's earnings in 2024 is $2.65 per share, reflecting a year-over-year earnings growth rate of 12.29% [3] Investment Perspective - Dividends are favored by investors for various reasons, including tax advantages and risk reduction [4] - Established firms with secure profits are typically viewed as the best dividend options, while high-growth businesses rarely offer dividends [4] - Avient is considered a compelling investment opportunity due to its strong dividend profile and current Zacks Rank of 3 (Hold) [4]

Avient Corporation (AVNT) announced the pricing of its previously-disclosed offering of $650 million in total principal amount of senior notes due 2031. These notes, exempt from registration under the Securities Act of 1933, will carry an interest rate of 6.25% annually and be issued at 100% of their principal value. The transaction is expected to close on Sept. 19, 2024, pending customary closing conditions.AVNT plans to use the proceeds from this offering, along with existing cash, to fully redeem its out ...

CLEVELAND, Sept. 5, 2024 /PRNewswire/ -- Avient Corporation (NYSE: AVNT) ("Avient") today announced the pricing of its previously announced offering of $650 million in aggregate principal amount of senior notes due 2031 (the "notes") in an offering exempt from the registration requirements of the Securities Act of 1933 (the "Securities Act"). The notes will bear interest at an annual rate of 6.250% and will be issued at a price of 100.000% of their principal amount. The closing of the notes offering is expe ...

CLEVELAND, Sept. 5, 2024 /PRNewswire/ -- Avient Corporation (NYSE: AVNT) ("Avient") today announced the commencement of an offering of $650 million in aggregate principal amount of senior notes due 2031 (the "notes") in an offering exempt from the registration requirements of the Securities Act of 1933 (the "Securities Act").Avient intends to use the net proceeds from the offering, together with cash on hand, to redeem all of its outstanding 5.75% senior notes due 2025 (the "2025 senior notes") and pay rela ...

Avient Corporation’s (AVNT) shares reached a fresh 52-week high of $49.42 on Aug. 26 before closing at $48.64.In the past year, the stock has appreciated 26% against the industry’s 6.8% decline in the same period.Image Source: Zacks Investment ResearchWhat’s Driving Avient?Avient is optimistic about sustaining its strong momentum from the second quarter throughout the rest of 2024. The company remains committed to its growth strategy, focusing on delivering innovative materials and processing solutions that ...

All investors love getting big returns from their portfolio, whether it's through stocks, bonds, ETFs, or other types of securities. However, when you're an income investor, your primary focus is generating consistent cash flow from each of your liquid investments.Cash flow can come from bond interest, interest from other types of investments, and of course, dividends. A dividend is that coveted distribution of a company's earnings paid out to shareholders, and investors often view it by its dividend yield, ...

[PART I — FINANCIAL INFORMATION](index=3&type=section&id=PART%20I%20%E2%80%94%20FINANCIAL%20INFORMATION) This section presents Avient Corporation's unaudited condensed consolidated financial statements, MD&A, market risk, and controls [ITEM 1. FINANCIAL STATEMENTS](index=3&type=section&id=ITEM%201.%20FINANCIAL%20STATEMENTS) This section presents Avient Corporation's unaudited condensed consolidated financial statements and detailed notes for the periods ended June 30, 2024 [Condensed Consolidated Statements of Income (Unaudited)](index=3&type=section&id=Condensed%20Consolidated%20Statements%20of%20Income%20(Unaudited)) Avient Corporation reported significant improvements in net income, EPS, sales, gross margin, and operating income for the periods ended June 30, 2024 Condensed Consolidated Statements of Income (Unaudited) | Metric (in millions, except per share) | 3 Months Ended Jun 30, 2024 | 3 Months Ended Jun 30, 2023 | Change ($ millions) | Change (%) | 6 Months Ended Jun 30, 2024 | 6 Months Ended Jun 30, 2023 | Change ($ millions) | Change (%) | | :------------------------------------- | :-------------------------- | :-------------------------- | :------------------ | :--------- | :-------------------------- | :-------------------------- | :------------------ | :--------- | | Sales | $849.7 | $824.4 | $25.3 | 3.1% | $1,678.7 | $1,670.1 | $8.6 | 0.5% | | Gross margin | $257.6 | $240.7 | $16.9 | 7.0% | $535.8 | $488.3 | $47.5 | 9.7% | | Operating income | $72.5 | $62.3 | $10.2 | 16.4% | $166.5 | $119.4 | $47.1 | 39.4% | | Net income attributable to Avient common shareholders | $33.6 | $22.1 | $11.5 | 52.0% | $83.0 | $42.0 | $41.0 | 97.6% | | Basic EPS (Continuing Operations) | $0.37 | $0.24 | | | $0.91 | $0.47 | | | | Diluted EPS (Continuing Operations) | $0.36 | $0.24 | | | $0.90 | $0.47 | | | | Cash dividends declared per share | $0.2575 | $0.2475 | | | $0.5150 | $0.4950 | | | [Condensed Consolidated Statements of Comprehensive Income (Unaudited)](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Income%20(Unaudited)) Total comprehensive income attributable to Avient common shareholders increased for the three months but slightly decreased for the six months ended June 30, 2024 Condensed Consolidated Statements of Comprehensive Income (Unaudited) | Metric (in millions) | 3 Months Ended Jun 30, 2024 | 3 Months Ended Jun 30, 2023 | 6 Months Ended Jun 30, 2024 | 6 Months Ended Jun 30, 2023 | | :------------------------------------------------------ | :-------------------------- | :-------------------------- | :-------------------------- | :-------------------------- | | Net income | $33.8 | $22.3 | $83.5 | $42.7 | | Translation adjustments and related hedging instruments | $(18.5) | $(16.3) | $(44.4) | $1.3 | | Total comprehensive income attributable to Avient common shareholders | $15.1 | $4.2 | $38.6 | $40.2 | [Condensed Consolidated Balance Sheets (Unaudited)](index=5&type=section&id=Condensed%20Consolidated%20Balance%20Sheets%20(Unaudited)) Avient's total assets slightly decreased as of June 30, 2024, while current liabilities significantly increased due to debt reclassification Condensed Consolidated Balance Sheets (Unaudited) | Metric (in millions) | As of June 30, 2024 | As of December 31, 2023 | Change ($ millions) | Change (%) | | :----------------------------------------- | :------------------ | :---------------------- | :------------------ | :--------- | | Total assets | $5,907.8 | $5,968.5 | $(60.7) | (1.0)% | | Cash and cash equivalents | $489.4 | $545.8 | $(56.4) | (10.3)% | | Accounts receivable, net | $486.6 | $399.9 | $86.7 | 21.7% | | Inventories, net | $365.9 | $347.0 | $18.9 | 5.4% | | Goodwill | $1,685.1 | $1,719.3 | $(34.2) | (2.0)% | | Intangible assets, net | $1,515.7 | $1,590.8 | $(75.1) | (4.7)% | | Total current liabilities | $1,498.2 | $773.6 | $724.6 | 93.7% | | Short-term and current portion of long-term debt | $657.7 | $9.5 | $648.2 | 6823.2% | | Long-term debt | $1,420.8 | $2,070.5 | $(649.7) | (31.4)% | | Total equity | $2,334.2 | $2,338.0 | $(3.8) | (0.2)% | [Condensed Consolidated Statements of Cash Flows (Unaudited)](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows%20(Unaudited)) Net cash provided by operating activities significantly increased for the six months ended June 30, 2024, while investing and financing activities used cash Condensed Consolidated Statements of Cash Flows (Unaudited) | Metric (in millions) | 6 Months Ended Jun 30, 2024 | 6 Months Ended Jun 30, 2023 | Change ($ millions) | | :-------------------------------------------------- | :-------------------------- | :-------------------------- | :------------------ | | Net cash provided (used) by operating activities | $63.1 | $(24.7) | $87.8 | | Net cash used by investing activities | $(54.5) | $(38.6) | $(15.9) | | Net cash used by financing activities | $(54.8) | $(48.3) | $(6.5) | | Decrease in cash and cash equivalents | $(56.4) | $(112.4) | $56.0 | | Cash and cash equivalents at end of period | $489.4 | $528.7 | $(39.3) | [Consolidated Statements of Shareholders' Equity (Unaudited)](index=7&type=section&id=Consolidated%20Statements%20of%20Shareholders'%20Equity%20(Unaudited)) Avient's total equity remained stable from December 31, 2023, to June 30, 2024, with net income offset by other comprehensive loss and dividends - Net income for the six months ended June 30, 2024, was **$83.0 million** attributable to Avient common shareholders, contributing to equity[14](index=14&type=chunk) - Other comprehensive loss, primarily due to translation adjustments, negatively impacted equity by **$44.4 million** for the six months ended June 30, 2024[6](index=6&type=chunk)[14](index=14&type=chunk) - Cash dividends declared were **$0.2575 per share** for each quarter in 2024, totaling **$47.0 million** for the six months[5](index=5&type=chunk)[11](index=11&type=chunk)[14](index=14&type=chunk) [Notes to Condensed Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) This section provides detailed explanations for the financial statements, covering accounting policies, estimates, and specific line items [Note 1 — BASIS OF PRESENTATION](index=8&type=section&id=Note%201%20%E2%80%94%20BASIS%20OF%20PRESENTATION) Interim financial statements are prepared in conformity with GAAP and include management's estimates and assumptions - Interim financial statements are prepared in conformity with GAAP and include management's estimates and assumptions[18](index=18&type=chunk) - Operating results for the three and six months ended June 30, 2024, are not necessarily indicative of future results[18](index=18&type=chunk) [Note 2 — GOODWILL AND INTANGIBLE ASSETS](index=8&type=section&id=Note%202%20%E2%80%94%20GOODWILL%20AND%20INTANGIBLE%20ASSETS) Goodwill and intangible assets decreased primarily due to currency translation impacts for the six months ended June 30, 2024 Goodwill and Intangible Assets (in millions) | Asset (in millions) | As of June 30, 2024 | As of December 3

Financial Data and Key Metrics Changes - The company reported sales of $850 million for Q2 2024, representing a 3% increase over Q2 2023 on an as-reported basis and a 5% increase on an organic basis, marking the first sales growth in seven quarters [7][8] - Adjusted EBITDA margins expanded to 16.9%, a 100 basis point improvement year-over-year, with adjusted earnings per share of $0.76, reflecting a 21% increase compared to the previous year [8][14] Business Line Data and Key Metrics Changes - The color, additives, and inks segment grew 5% organically, driven by strong demand in packaging and building and construction, with EBITDA for this segment increasing by 15% [18] - The specialty engineered materials segment saw a 4% organic growth, primarily due to restocking in consumer and healthcare markets, with adjusted EBITDA growing by 7% [19] Market Data and Key Metrics Changes - The packaging and consumer end markets grew by 8% and 10% respectively, significantly impacting overall sales growth [9] - Healthcare sales increased by 10% year-over-year, indicating a recovery from previous destocking trends [10] - Telecommunications and energy markets faced challenges, with sales down double digits, but improvements are expected in the second half of the year [11] Company Strategy and Development Direction - The company aims to deliver organic top-line growth while expanding margins, focusing on gaining market share and winning new product specifications [7][25] - A strategic plan is being finalized, with an Investor Day scheduled for December 4, 2024, to share further details [25] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining growth momentum into the second half of the year, supported by a strong order book and market demand recovery [30] - The company anticipates continued growth in healthcare and defense sectors, with expectations for double-digit growth in defense for the full year [37] Other Important Information - The company has reduced its greenhouse gas emissions by 48% since 2019 and received improved sustainability ratings from independent agencies [23][24] - Full-year adjusted EBITDA guidance has been increased to a range of $515 million to $540 million, with adjusted earnings per share guidance raised to $2.55 to $2.70 [22] Q&A Session Summary Question: Visibility into the second half of the year - Management indicated that order patterns and market demand are showing positive signs, supporting expectations for continued growth momentum [30] Question: Healthcare segment evolution - The destocking process in healthcare is believed to be over, with new opportunities in drug delivery and monitoring devices contributing to double-digit growth [32] Question: Defense segment expectations - Management expects double-digit growth in the defense segment for Q3, driven by new programs and orders from NATO countries [37] Question: Raw material inflation expectations - The company anticipates a headwind from raw material inflation in the second half, with specific expectations for $5 to $10 million in inflation impacts [40][60] Question: Cash flow and working capital expectations - Free cash flow was reported at over $185 million, with expectations for higher capital expenditures and working capital usage in 2024 [63]