Avient Full-Year Report 2023

Avient Corporation (NYSE: AVNT), a leading provider of specialized and sustainable materials solutions, today announced its fourth quarter and full year results for 2023. Fourth quarter and full year GAAP earnings per share (EPS) were $0.30 and $0.83, compared to $(0.19) and $0.90 from continuing operations in the prior year, respectively.

The company noted that fourth quarter 2023 GAAP EPS includes $0.06 of special items (see Attachment 3) and $0.16 of intangible amortization expense (see Attachment 1). Special items for the quarter were primarily related to adjustments to environmental reserves. 

Highlights

• Fourth quarter and full year GAAP EPS of $0.30 and $0.83 compared to $(0.19) and $0.90 from continuing operations in the prior year.
• Fourth quarter and full year adjusted EPS of $0.52 and $2.36 exceeds guidance of $0.47 and $2.30 as a result of favorable sales as well as lower net interest expense-.
• Fourth quarter adjusted EPS increased 24% over the prior year pro forma adjusted EPS primarily driven by improved margins from positive portfolio mix, raw material deflation and cost reduction actions.
• 2024 full year adjusted EPS expected to range from $2.40 to $2.65 as destocking comes to an end and underlying demand starts to improve