Avient (US:AVNT) Prnewswireยท2024-08-06 10:15Core 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].