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Sep 30, 2022
Avient Q3 2022 Earnings Report
Announced third quarter 2022 results, which included an adjusted EPS excluding intangible amortization in line with guidance despite weaker global demand conditions.
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
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
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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