Avient Q3 adjusted EPS $0.57 beats guidance; sales $754M down 8.4% YoY; FY adj EPS guidance $2.30

AVIENT CORP

2023-Q3 EPS reported $0.51 revenue$2,423,800,000

GAAP EPS $0.06 vs ($0.30) prior year; adjusted EPS $0.57 exceeds guidance of $0.56.
Sales $754M, down from $823M; destocking slowing in many end markets, especially packaging.
Q4 adjusted EPS guidance $0.47 (+12% YoY); full-year adjusted EPS $2.30, sales $3.13B.
Paid down $100M debt, refinanced Term Loan; annual interest expense savings of $10M.
Dividend increased for 13th consecutive year; full-year free cash flow guidance maintained at $180M.

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 0.9

AVIENT CORP reported third quarter 2023 results: revenue $754 million, EPS $0.06. Guidance lowered.

Period: third quarter 2023
Revenue: $754 million
EPS: $0.06
Guidance: lowered
Result: reported results

Exact text from the filing

The company reported third quarter sales of $754 million compared to $823 million in the prior year. Third quarter GAAP and adjusted earnings per share (EPS) were $0.06 and $0.57, respectively, compared to ($0.30) and $0.59 in the prior year.

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AVIENT CORP filing history →

Source: SEC EDGAR

accession 0001122976-23-000054

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