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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 Corporation (NYSE: AVNT) plans to release its fourth quarter 2021 earnings on February 8, 2022, before the market opens. A webcast presentation will occur at 8:00 a.m. ET on the same day. The earnings report is expected to reflect projected revenues of $4.75 billion for 2021. The company offers sustainable material solutions, focusing on recyclability, lightweighting, and energy-efficient infrastructure. Investors can participate in a Q&A session post-presentation, and a recording will be available for a week after the call.
Avient Corporation (NYSE: AVNT) announced an upcoming Investor Day on December 9, 2021, from 8:00 a.m. to 1:00 p.m. at the New York Marriott Marquis. CEO Robert M. Patterson will highlight the company's transformation since 2018, focusing on sustainable solutions and long-term growth. The event will feature presentations from senior executives and updates on the integration of the Clariant Color business. Expected revenues for 2021 are $4.75 billion, with emphasis on technologies that enhance recyclability and energy efficiency.
Avient Corporation (NYSE: AVNT) reported a strong third quarter in 2021, achieving a GAAP EPS of $0.57, up from $0.02 year-over-year. Revenue rose 32% to $1.2 billion, with adjusted EPS increasing 52% to $0.70. The company highlighted $50 million in synergies from the integration of Clariant's color business and maintains an adjusted EPS guidance of $3.00 for the full year, representing a 55% increase from the previous year. Avient is on track to reduce net debt to adjusted EBITDA leverage to 2.1x by year-end, ahead of schedule.
Avient Corporation (NYSE: AVNT) announced a quarterly cash dividend of $0.2375 per share, marking its eleventh consecutive annual dividend increase. This dividend will be paid on January 7, 2022, to shareholders on record as of December 17, 2021. The annualized dividend increases from $0.85 to $0.95 per share, reflecting a 12% increase. The company anticipates strong earnings growth and plans to host an Investor Day on December 9 to discuss future strategies and synergies from the acquisition of Clariant Color.
Avient Corporation (NYSE: AVNT) will announce its third quarter 2021 earnings on October 28, 2021. A webcast presentation is scheduled for 8:00 a.m. ET on the same day, allowing investors to engage and submit questions following the presentation. Avient projects revenues between $4.6 billion and $4.7 billion for 2021, emphasizing its commitment to specialized and sustainable material solutions. The company focuses on improving recyclability, light-weighting for fuel efficiency, and enhancing sustainable infrastructure.
Avient Corporation (NYSE: AVNT) anticipates double-digit revenue growth in 5G applications as the infrastructure for 5G technology expands. The global 5G infrastructure market is projected to grow from $2.64 billion in 2020 to $80.5 billion by 2028, at a CAGR of 49.8%. Avient's specialty materials are poised to support this growth, addressing the increased demand for fiber optic cables and antennas essential for high-frequency networks. Additionally, U.S. infrastructure spending includes $65 billion for broadband expansion, underlining the potential market opportunity.
Avient Corporation (NYSE: AVNT) has appointed Neil Green and Ernest Nicolas as independent directors, increasing its Board to 12 members. This move aims to enhance the company's expertise in digital technology and global supply chain. Green, previously with Otis Worldwide and Intel, brings a strong background in digital strategy, while Nicolas, from Rockwell Automation, is an expert in supply chain operations. Avient expects revenues of $4.6 to $4.7 billion in 2021, focusing on sustainable solutions including light-weighting and barrier technologies.
Avient Corporation (NYSE: AVNT) reported strong Q2 2021 results, achieving GAAP EPS of $0.74, up from $0.25 year-over-year. Sales reached $1.235 billion, a 42% increase, driven by robust demand, especially in consumer applications which rose 67%. Adjusted EPS also soared 107% to $0.87. The company highlights successful integration of Clariant Masterbatch and the recent acquisition of Magna Colours Ltd., enhancing its sustainable solutions portfolio. For Q3, projected sales are $1.15 billion and adjusted EPS at $0.68, while full-year estimates are raised to $4.6-$4.7 billion in revenue and $3.00 adjusted EPS.
Avient Corporation (NYSE: AVNT) has declared a quarterly cash dividend of $0.2125 per share, payable on October 7, 2021, to shareholders on record by September 17, 2021. The company projects revenues of $4.3 billion for 2021, emphasizing its commitment to providing specialized and sustainable material solutions. Avient focuses on innovative technologies to enhance product longevity and reduce environmental impact through lightweight materials and improved recyclability.
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