Avient Q1 Report 2024

Avient Corporation, a leading provider of specialized and sustainable materials solutions, today announced its first quarter results for 2024. The company reported first quarter sales of $829.0 million compared to $845.7 million in the prior year quarter.

First quarter GAAP earnings per share (EPS) from continuing operations was $0.54 compared to $0.23 in the prior year quarter. The company noted that first quarter 2024 GAAP EPS includes $0.06 of special items (see Attachment 3) and $0.16 of intangible amortization expense (see Attachment 1). First quarter 2024 adjusted EPS was $0.76 compared to $0.63 in the prior year.

Highlights

• First quarter GAAP EPS from continuing operations of $0.54 compared to $0.23 in the prior year quarter
• First quarter adjusted EPS of $0.76 exceeded guidance of $0.68 primarily as a result of better-than-expected customer demand from defense applications and lower raw material costs
• First quarter adjusted EPS increased 21% over the prior year driven by improved margins from lower raw material costs and favorable mix, and lower net interest expense
• Revised 2024 full-year adjusted EPS guidance range to $2.50 to $2.65, from prior guidance of $2.40 to $2.65 given strong first quarter results; Revised full-year guidance range reflects 6% to 12% growth in adjusted EPS over the prior year.