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Avient Corporation (NYSE: AVNT) is a global leader in providing specialized and sustainable material solutions. Headquartered in Cleveland, Avient operates in two primary segments: Color, Additives and Inks and Specialty Engineered Materials. The company offers an extensive portfolio of products, including concentrated color and ink blends, plastic resins, and various specialized polymer materials. These products serve a wide array of industries such as food packaging, construction, transportation, cosmetics, and healthcare.
Avient has a robust global presence with operations spanning North America, South America, Europe, Africa, and Asia. The company employs over 7,600 associates globally, operating more than 80 manufacturing and distribution facilities, dozens of innovation labs, and numerous sales and service locations on five continents.
In recent developments, Avient reported its 2023 third-quarter earnings, highlighting GAAP and adjusted EPS of $0.06 and $0.57, respectively. The company continues to navigate challenging economic conditions, focusing on strategic initiatives to improve margins and profitability. Notably, the acquisition of Dyneema has strengthened Avient's portfolio, particularly in defense, energy, and transportation end markets.
Avient is committed to sustainability, exemplified by its recent sustainability report and the upcoming Sustainability Day event. The company is a certified ACC Responsible Care® member, a founding member of the Alliance to End Plastic Waste, and certified as a Great Place to Work®.
Financially, the company has shown resilience, maintaining its full-year adjusted EPS guidance despite weaker demand conditions. Avient has also made strategic moves to optimize its financial position, including the recent repricing and extension of its senior secured term loan facility, resulting in significant interest expense savings.
Looking ahead, Avient aims to drive profitable organic growth and innovation, leveraging its culture of strong customer focus and a portfolio of differentiated technologies. The company’s outlook remains optimistic with expectations of improved demand conditions as it progresses through the year.
- Second quarter 2023 results: GAAP EPS of $0.24, adjusted EPS of $0.63
- Repricing and extension of senior secured term loan facility completed in August 2023
- Upcoming third-quarter earnings release scheduled for November 2, 2023
- Fourth-quarter and full-year 2023 results to be announced on February 14, 2024
Avient (NYSE: AVNT) has announced a quarterly cash dividend of $0.2575 per share. The dividend will be paid on October 9, 2024, to stockholders of record as of September 13, 2024. Avient is a provider of specialized and sustainable materials solutions.
Avient (NYSE: AVNT), a provider of specialized and sustainable materials solutions, will release its second quarter 2024 earnings before the market opens on August 6, 2024.
Following the release, the company will hold a webcast with a slide presentation at 8:00 a.m. Eastern Time the same day. Viewers can access the webcast live at avient.com/investors.
Participants wishing to join the question and answer session must pre-register to receive the dial-in number and personal PIN. A recording of the webcast and slide presentation will be available on the company's website immediately after the event and will remain accessible for one year.
On May 22, 2024, International Paper (NYSE: IP) announced the election of Jamie A. Beggs and Scott A. Tozier to its Board of Directors, effective May 21, 2024. Additionally, Ilene S. Gordon retired from the Board due to personal and health reasons.
Beggs, a seasoned financial executive, is currently Senior Vice President and CFO of Avient Tozier, a strategic advisor and former CFO at Albemarle , brings extensive financial and M&A experience. Both will join the Audit and Finance Committee and the Public Policy and Environment Committee.
These changes leave the IP Board with 11 directors, nine of whom are independent. Clinton A. Lewis, Jr. was named chair of the Governance Committee.
The Board of Directors of Avient (NYSE: AVNT) has announced a quarterly cash dividend of $0.2575 per share on its common stock. This dividend will be paid on July 10, 2024, to stockholders who are on record as of June 21, 2024. Avient is recognized for its specialized and sustainable materials solutions. The announcement reflects the company's ongoing commitment to providing shareholder value through regular dividend payments.
Avient (NYSE: AVNT) reported first quarter 2024 sales of $829.0 million, with a GAAP EPS of $0.54 and adjusted EPS of $0.76, exceeding guidance. The company revised its full-year adjusted EPS guidance range to $2.50 to $2.65, reflecting strong first quarter results and a 6% to 12% growth over the prior year. The company highlighted strong demand for Dyneema® fiber technology and raw material deflation driving performance.
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