Avient Q3 2022 Earnings Report
Key Takeaways
Avient Corporation reported a GAAP loss per share of ($0.30) and adjusted EPS of $0.59. The company completed the acquisition of DSM Protective Materials and the sale of its Distribution business. Revised full year adjusted EPS guidance to $2.60 primarily as a result of recently announced COVID lockdowns
Completed the acquisition of DSM Protective Materials (including Dyneema®) on September 1st and the sale of the Distribution business on November 1st
$750 million of after-tax proceeds from the sale of Distribution used to redeem all Senior Unsecured Notes due in 2023 and pay down a portion of term loan debt
GAAP EPS from continuing operations of ($0.30) includes special items of ($0.75) primarily associated with acquisition-related costs and an adjustment to environmental reserves
Adjusted EPS excluding intangible amortization of $0.59 is in line with the company’s guidance of $0.58 provided on September 27th
Avient
Avient
Avient Revenue by Segment
Forward Guidance
Revised full year adjusted EPS guidance to $2.60 primarily as a result of recently announced COVID lockdowns
Revenue & Expenses
Visualization of income flow from segment revenue to net income