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Mar 31, 2023
Avient Q1 2023 Earnings Report
Reported first quarter results with sales in line with guidance and adjusted EPS exceeding guidance due to favorable margins.
Key Takeaways
Avient Corporation announced its first quarter 2023 results, with sales of $846 million. GAAP EPS was $0.23, and adjusted EPS was $0.63, exceeding guidance. The company maintained its full-year adjusted EBITDA and EPS guidance.
First quarter sales of $846 million in line with guidance
Adjusted EPS of $0.63 exceeded guidance of $0.55, driven by better-than-projected margins in both segments
Full year adjusted EBITDA and EPS guidance of $530 million and $2.40, respectively, maintained given present macroeconomic uncertainty
Sustainability Investor Day to be held on September 20th will highlight Avient’s sustainable solutions portfolio and growth opportunities
Revenue by Segment
Forward Guidance
The company expects second quarter sales and adjusted EPS of $845 million and $0.60, respectively, and is maintaining its previous full year guidance of adjusted EBITDA and EPS of $530 million and $2.40.
Positive Outlook
- Slightly higher margins projected for the second quarter compared to initial projections.
- Focus on executing long-term strategy.
- Increasing customer and employee engagement.
- Optimizing cost structure by capturing additional synergies from the Clariant acquisition.
- Minimizing working capital.
Challenges Ahead
- Global demand conditions continue to be challenged by negative consumer sentiment.
- Rising interest rates.
- Inflation.
- Customers in Europe and the Americas remain cautious and are managing inventory levels tightly.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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