Avient beats Q1 adjusted EPS guidance at $0.63; maintains FY guidance at $2.40 EPS

AVIENT CORP

2023-Q1 EPS reported $0.22 revenue$845,700,000

Q1 sales $846M in line; GAAP EPS $0.23 includes $0.24 special items; adjusted EPS $0.63 beat guidance of $0.55.
Maintains FY2023 adj. EBITDA guidance $530M and adj. EPS $2.40; Q2 outlook adj. EPS $0.60 on $845M sales.
Composites and sustainable solutions resilient; Dyneema integration on track; demand in defense/energy/telecom.
Sustainability Investor Day announced for Sept 20 to highlight sustainable solutions growth opportunities.

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 0.95

AVIENT CORP reported second quarter 2023 results: revenue $845 million, EPS adjusted EPS of $0.60. Guidance initiated.

Period: second quarter 2023
Revenue: $845 million
EPS: adjusted EPS of $0.60
Guidance: initiated
Result: guidance update

Exact text from the filing

Accordingly, we expect second quarter sales and adjusted EPS of $845 million and $0.60, respectively, which reflects slightly higher margins than we projected at the beginning of the year

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

AVIENT CORP reported full year 2023 results: EPS adjusted EPS of $2.40. Guidance reaffirmed.

Period: full year 2023
EPS: adjusted EPS of $2.40
Guidance: reaffirmed
Result: guidance update

Exact text from the filing

On a full year basis, we are maintaining our previous guidance of adjusted EBITDA and EPS of $530 million and $2.40.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

AVIENT CORP reported first quarter 2023 results: revenue $846 million, EPS $0.23 GAAP EPS, $0.63 adjusted EPS.

Period: first quarter 2023
Revenue: $846 million
EPS: $0.23 GAAP EPS, $0.63 adjusted EPS
Result: reported results

Exact text from the filing

Avient Announces First Quarter 2023 Results • First quarter sales of $846 million in line with guidance • GAAP EPS of $0.23 includes special items primarily related to restructuring costs as detailed in Attachment 3 • Adjusted EPS of $0.63 exceeded guidance of $0.55, driven by better-than-projected margins in both segments

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Source: SEC EDGAR

accession 0001122976-23-000018

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