Avient Corporation Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 02, 2023 at 06:01 am EDT
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Avient Corporation reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 753.7 million compared to USD 823.3 million a year ago. Net income was USD 5.1 million compared to net loss of USD 10.3 million a year ago. Basic earnings per share from continuing operations was USD 0.06 compared to basic loss per share from continuing operations of USD 0.3 a year ago. Diluted earnings per share from continuing operations was USD 0.06 compared to diluted loss per share from continuing operations of USD 0.3 a year ago. Basic earnings per share was USD 0.06 compared to basic loss per share of USD 0.11 a year ago. Diluted earnings per share was USD 0.06 compared to diluted loss per share of USD 0.11 a year ago.
For the nine months, sales was USD 2,423.8 million compared to USD 2,606.5 million a year ago. Net income was USD 47.1 million compared to USD 158.6 million a year ago. Basic earnings per share from continuing operations was USD 0.53 compared to USD 1.09 a year ago. Diluted earnings per share from continuing operations was USD 0.52 compared to USD 1.08 a year ago. Basic earnings per share was USD 0.52 compared to USD 1.74 a year ago. Diluted earnings per share was USD 0.51 compared to USD 1.72 a year ago.
Avient Corporation is a premier formulator of specialized and sustainable materials solutions. The Companyâs products include specialty engineered materials, performance fibers, advanced composites and color and additive systems. The Company operates through two segments: Color, Additives and Inks and Specialty Engineered Materials. The Color, Additives, and Inks segment is a formulator of specialized custom color and additive concentrates in solid and liquid form for thermoplastics, dispersions for thermosets, as well as specialty inks. Color and additive solutions include a range of colors, special effects and performance enhancing and sustainable solutions. It also provides custom-formulated liquid systems. The Specialty Engineered Materials segment is a formulator of specialty and sustainable polymer formulations, services and solutions for designers, assemblers, and processors of thermoplastic materials across variety of markets and end-use applications.