Welcome to our dedicated page for Avient Corporation news (Ticker: AVNT), a resource for investors and traders seeking the latest updates and insights on Avient Corporation stock.
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) reported strong fourth quarter results for 2020, with GAAP EPS from continuing operations at $0.81, up from $0.08 in Q4 2019. Adjusted EPS of $0.52 exceeded projections and was fueled by robust sales in the Color, Additives and Inks segment. The company achieved record operating income in multiple segments, including $30 million for SEM and $58 million from Color, Additives and Inks. Looking ahead, Avient expects approximately 8% revenue growth in 2021, with adjusted EPS projected to rise from $1.93 to $2.40, a 24% increase.
Avient Corporation (NYSE: AVNT) has announced a quarterly cash dividend of $0.2125 per share on its common stock, scheduled for payment on April 8, 2021. The record date for stockholders is March 16, 2021. In 2020, Avient reported pro forma revenues of $3.8 billion, specializing in sustainable material solutions that enhance product longevity and reduce environmental impact. The company focuses on barrier technologies for perishable goods, light-weighting solutions for transportation, and technologies that improve recyclability.
Avient Corporation (NYSE: AVNT) will host a webcast on February 9, 2021, to discuss its fourth quarter 2020 results and provide growth projections for 2021. The company reports a strong finish to 2020, with demand conditions improving. The webcast will also focus on the successful integration of Clariant Masterbatch, which is ahead of schedule. Avient, with pro forma revenues of approximately $3.8 billion in 2020, specializes in sustainable material solutions, including barrier technologies and lightweighting solutions.
Avient Corporation (NYSE: AVNT) will announce its fourth quarter 2020 earnings on February 9, 2021, before market open. Following the announcement, a conference call is scheduled for 9:00 a.m. ET on the same day. Investors can join the call by calling 1-844-835-7433 domestically or 1-914-495-8589 internationally, using conference ID 3293155. Recorded playback will be available for a week starting at 12:00 p.m. ET after the call. Avient reported pro forma revenues of approximately $3.8 billion in 2020, focusing on sustainable material solutions.
Avient Corporation (NYSE: AVNT) reported its third quarter results for 2020, with GAAP earnings per share (EPS) from continuing operations at $0.02, down from $0.30 in Q3 2019. However, adjusted EPS was $0.54, surpassing previous projections. Specialty Engineered Materials achieved record operating income of $24.7 million, a 27% increase year-over-year. The integration of Clariant Masterbatch is progressing well, with an increased synergy estimate of $75 million. Avient's cash on-hand reached $577 million, and net debt to adjusted EBITDA is expected to fall below 3.0x by year-end.
Avient Corporation (NYSE: AVNT) has declared a quarterly dividend of $0.2125 per share, marking a 5% annual increase to $0.85 per share. This dividend will be paid on January 8, 2021, to stockholders on record by December 18, 2020, representing the tenth consecutive annual increase. The rise is attributed to expanding earnings and free cash flow. CEO Robert M. Patterson expressed confidence in future earnings growth, driven by improving demand conditions and synergies from the recent acquisition of Clariant Masterbatch, achieving record adjusted EBITDA levels.
Avient Corporation (NYSE: AVNT) will release its third quarter 2020 earnings on November 3, 2020, before market opening. A conference call will be held at 8:00 a.m. ET on the same day. Investors can access the call by dialing 1-844-835-7433 domestically or 1-914-495-8589 internationally, with a conference ID of 1743847. The replay will be available for one week starting at 11:00 a.m. ET on November 3. Avient reported pro forma revenues of $3.7 billion for 2020, focusing on sustainable material solutions.
On October 2, 2020, Avient Corporation (NYSE: AVNT) appointed Cathy K. Dodd as Senior Vice President and President of Distribution, succeeding Scott Horn, who retired after 39 years. Dodd, who joined Avient in 2014, has a strong background in marketing and has led initiatives to enhance customer service and brand presence. Avient, with pro forma revenues of $3.7 billion in 2019, provides sustainable material solutions, serving over 6,000 processors and OEMs across North America and Asia.
Avient Corporation (NYSE: AVNT) expects a strong third quarter with adjusted EPS of approximately $0.43, aided by recovery in demand and growth in the Specialty Engineered Materials segment, projected to achieve over 15% EBITDA growth. The acquisition of Clariant Masterbatch is yielding positive contributions, with adjusted EPS expected to reach $0.51, up 16% year-over-year. Avient anticipates third-quarter sales and adjusted EBITDA of around $905 million and $107 million, respectively, alongside estimated free cash flow of $80 million.
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