Avient Corp

AVNT

Equity

ISIN US05368V1061 / Valor 55641012

New York Stock Exchange, Inc (2024-12-24)

USD 41.38+0.93%

Avient Corp
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About company

Avient Corp, formerly known as PolyOne Corporation, is a global company specializing in providing specialized and sustainable material solutions for various industries. With a focus on innovation and excellence, Avient Corp offers ultra-lightweight specialty fibers, including the renowned Dyneema® brand, which is 15 times stronger than steel and used in applications such as personal protection, marine and sustainable infrastructure, renewable energy, industrial safety, and outdoor sports. The company operates six production facilities, four R&D centers, and employs approximately 9,700 associates worldwide. Avient Corp's mission is to transform customer challenges into opportunities by bringing new products to life for a better world.

Summarized from source with an LLMView SourceSector: Industrials

GAAP Earnings Per Share

Avient Corp announced its fourth quarter and full year 2023 GAAP earnings per share (EPS) of $0.30 and $0.83, respectively. This is a significant improvement compared to $(0.19) and $0.90 from continuing operations in the prior year.

Adjusted Earnings Per Share

For the fourth quarter and full year 2023, Avient Corp reported adjusted EPS of $0.52 and $2.36, respectively. These figures exceeded the company's previous guidance of $0.47 and $2.30, driven by favorable sales and lower net interest expenses.

Cash Flow from Operations

Avient Corp finished the year with cash flow from operations amounting to $202 million. Excluding $104 million of taxes paid on the sale of the Distribution business, the cash flow from operations was $306 million. Adjusted free cash flow for 2023 was $186 million, slightly ahead of expectations.

2024 Earnings Outlook

Avient Corp expects its 2024 full year adjusted EPS to range from $2.40 to $2.65. This outlook is based on the anticipation that destocking will come to an end and underlying demand will start to improve.

First Quarter 2024 Expectations

For the first quarter of 2024, Avient Corp anticipates adjusted EPS of $0.68, an 8% increase from $0.63 in the first quarter of 2023. The company expects demand to improve in its largest end markets, packaging and consumer, as destocking concludes and its sustainable solutions portfolio expands.

Summarized from source with an LLMView Source

Key figures

0.51%1Y

-24.4%3Y

11.8%5Y

Performance

29.2%1Y

37.7%3Y

48.1%5Y

Volatility