Avient reports Q3 GAAP EPS loss of ($0.30); cuts FY 2022 adj. EPS guidance to $2.60

AVIENT CORP

2022-Q3 EPS reported $1.72 revenue$2,606,500,000

GAAP EPS from continuing operations of ($0.30) vs $0.37 a year ago; special items included ($0.75) per share.
Adjusted EPS exc. intangible amort. of $0.59 was in line with guidance of $0.58, vs $0.61 prior year.
Completed acquisition of DSM Protective Materials (APM) on Sept 1; sold Distribution business on Nov 1.
Used $750M after-tax proceeds from Distribution sale to redeem $600M 2023 Senior Notes and pay down $150M term loan.
Revised FY 2022 adjusted EPS guidance to $2.60, citing weaker demand and new COVID lockdowns in China.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.7

AVIENT CORP updated its third quarter 2022 guidance (lowered).

Period: third quarter 2022
Guidance: lowered
Result: reported results

Exact text from the filing

On November 2, 2022, the Registrant issued a press release, furnished herewith as Exhibit 99.1, announcing earnings for the third quarter of 2022.

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AVIENT CORP filing history →

Source: SEC EDGAR

accession 0001122976-22-000061

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