Avient Announces 3Q 2024 Results

Avient Corporation announced its third quarter 2024 results. The company reported third quarter sales of $815.2 million compared to $753.7 million in the prior year quarter.

Third quarter GAAP earnings per share (EPS) from continuing operations were $0.41 compared to $0.06 in the prior year quarter. The company noted that third quarter 2024 GAAP EPS includes $0.07 of special items and $0.16 of intangible amortization expense. Third quarter 2024 adjusted EPS were $0.65 compared to $0.57 in the prior year.

“The Avient team delivered another strong quarter, ahead of our expectations, driven by organic revenue growth across all regions and most end markets,” said Dr. Ashish Khandpur, president and CEO of Avient Corporation. “Both business segments performed well as we continue to capitalize on winning new business and gaining share, while serving the underlying market demand.”

Dr. Khandpur added, “Latin America and Asia each delivered organic double-digit topline increases of 27% and 11%, respectively, driven by growth in the packaging and consumer markets. The US and Canada region grew organic revenue by 9%, led by continued demand for our composite materials for the building and construction market. The EMEA region’s organic revenues grew 5%, benefiting from share gains in packaging and continued strong demand for defense applications.”

2024 Outlook

“The year has continued to play out as we expected, and as we look at the fourth quarter, we are in a position to narrow our full-year guidance,” said Jamie Beggs, SVP and CFO of Avient Corporation. “We now expect adjusted EBITDA of $525 million to $530 million, from our previous guidance range of $515 million to $540 million. Our revised range for adjusted EPS is between $2.63 to $2.67, from our previous range of $2.55 to $2.70.”