https://www.avient.com/sites/default/files/2022-11/Avient Announces Third Quarter 2022 Results.pdf
The company noted net proceeds from the Distribution sale are being used to retire its $600
million 2023 Senior Unsecured Notes and pay down $150 million of its term loan debt as shown
below.
3
More details will be provided on the company's third quarter performance and full year outlook
during its webcast scheduled for 8:00 a.m.
You are advised to consult any further disclosures
we make on related subjects in our reports on Form 10-Q, 8-K and 10-K that we provide to the
Securities and Exchange Commission.
6
Non-GAAP Financial Measures
The Company uses both GAAP (generally accepted accounting principles) and non-GAAP
financial measures.
The Company does not provide reconciliations of forward-looking non-GAAP financial measures,
such as adjusted EPS, to the most comparable GAAP financial measures on a forward-looking
basis because the Company is unable to provide a meaningful or accurate calculation or
estimation of reconciling items and the information is not available without unreasonable effort.
https://www.avient.com/sites/default/files/2022-07/Avient Announces Second Quarter 2022 Results_1.pdf
Without giving effect to any impacts from the pending acquisition of Dyneema and potential sale
of Avient Distribution, the company provided third quarter adjusted EPS guidance of $0.80, a 14%
increase from the prior year quarter, and maintained its full year adjusted EPS guidance of $3.50.
Avient will be hosting a webcast on Tuesday, July 26, 2022 to discuss second quarter results and
provide more details about the Dyneema acquisition and potential sale of its Distribution
business.
The Company does not provide reconciliations of forward-looking non-GAAP financial measures,
such as outlook for adjusted earnings per share, to the most comparable GAAP financial
measures on a forward-looking basis because the Company is unable to provide a meaningful or
accurate calculation or estimation of reconciling items and the information is not available without
unreasonable effort.
https://www.avient.com/sites/default/files/2025-02/News Release - AVNT-2024.12.31-News Release 2.12.25 2PM_0.pdf
The current macro environment presents several uncertainties related to policy, inflation,
foreign exchange and interest rates which provides for a broader set of potential outcomes for
the year,” Ms.
The Company does not provide reconciliations of forward-looking non-GAAP financial
measures, such as adjusted EPS and adjusted EBITDA, to the most comparable GAAP
financial measures on a forward-looking basis because the Company is unable to provide a
meaningful or accurate calculation or estimation of reconciling items, and the information is not
available without unreasonable effort.
In doing so, we innovate solutions that help our
customers overcome their challenges or capitalize on opportunities provided by the fast-
changing world and secular trends.
https://www.avient.com/sites/default/files/2024-08/Avient Q2 2024 Earnings Call Presentation.pdf
You are
advised to consult any further disclosures we make on related subjects in our reports on Form 10-Q, 8-K and 10-K that we provide to the Securities and Exchange Commission.
Avient does not provide reconciliations of forward-looking non-GAAP financial measures, such as outlook for Adjusted EBITDA and Adjusted Earnings Per Share, to the most comparable GAAP financial measures on a forward-looking basis because
Avient is unable to provide a meaningful or accurate calculation or estimation of reconciling items and the information is not available without unreasonable effort.
A reconciliation of these measures to their most directly comparable GAAP measures is provided in the tables below.
2024 2023
Reconciliation to Condensed Consolidated Statements of Income $ EPS $ EPS
Net income from continuing operations attributable to Avient shareholders $ 33.6 $ 0.36 $ 22.1 $ 0.24
Special items, after-tax 21.8 0.24 19.6 0.21
Amortization expense, after-tax 14.8 0.16 16.2 0.18
Adjusted net income / EPS $ 70.2 $ 0.76 $ 57.9 $ 0.63
Three Months Ended
Reconciliation to EBITDA and Adjusted EBITDA: 2024 2023
Net income from continuing operations – GAAP $ 33.8 $ 22.3
Income tax expense 11.2 10.4
Interest expense, net 26.6 29.4
Depreciation & amortization 44.9 47.6
EBITDA from continuing operations $ 116.5 $ 109.7
Special items, before tax 28.1 21.7
Interest expense included in special items (1.0) —
Depreciation & amortization included in special items (0.3) (0.1)
Adjusted EBITDA $ 143.3 $ 131.3
Adjusted EBITDA as a percent of sales 16.9 % 15.9 %
1
2024 2023
Sales:
Color, Additives and Inks $ 542.0 $ 524.5
Specialty Engineered Materials 308.1 300.8
Corporate (0.4) (0.9)
Sales $ 849.7 $ 824.4
Operating income:
Color, Additives and Inks $ 86.1 $ 68.0
Specialty Engineered Materials 42.8 39.7
Corporate (56.4) (45.4)
Operating income $ 72.5 $ 62.3
Depreciation & amortization:
Color, Additives and Inks $ 21.8 $ 25.7
Specialty Engineered Materials 20.8 19.9
Corporate 2.3 2.0
Depreciation & amortization $ 44.9 $ 47.6
Earnings before interest, taxes, depreciation and amortization (EBITDA):
Color, Additives and Inks $ 107.9 $ 93.7
Specialty Engineered Materials 63.6 59.6
Corporate (54.1) (43.4)
Other expense, net (0.9) (0.2)
EBITDA from continuing operations 116.5 109.7
Special items, before tax 28.1 21.7
Interest expense included in special items (1.0) —
Depreciation & amortization included in special items (0.3) (0.1)
Adjusted EBITDA $ 143.3 $ 131.3
Adjusted EBITDA as a percent of sales:
Color, Additives and Inks 19.9 % 17.9 %
Specialty Engineered Materials 20.6 % 19.8 %
2
Year Ended
December 31, 2023
Operating income:
Color, Additives and Inks $ 259.9
Specialty Engineered Materials 142.5
Corporate (205.6)
Operating income $ 196.8
Depreciation & amortization:
Color, Additives and Inks $ 98.3
Specialty Engineered Materials 81.5
Corporate 9.0
Depreciation & amortization $ 188.8
Earnings before interest, taxes, depreciation and amortization (EBITDA):
Color, Additives and Inks $ 358.2
Specialty Engineered Materials 224.0
Corporate (196.6)
Other income, net 5.8
EBITDA from continuing operations 391.4
Special items, before tax 114.6
Interest expense included in special items (2.3)
Depreciation & amortization included in special items (1.9)
Adjusted EBITDA $ 501.8
3
Avient Q2 2024 Webcast Slides_for website_with non-GAAP_8_5.pdf
IR Deck - AVNT-2024.06.30 - 8.02.24 1130AM.pdf
Attachment
Avient Q2 2024 Webcast Slides_for website_with non-GAAP.pdf
AVNT cover slide.pdf
https://www.avient.com/sites/default/files/2024-03/Terms and Conditions of Sale for Ireland.pdf
Any
samples or developmental material provided by Seller are provided
“AS IS” with no warranty as to its performance and such samples or
materials shall not create any warranty by sample, which is hereby
waived.
The act of providing a sample
or developmental material does not operate as permission,
recommendation, or inducement to practice any patented invention
without permission of the patent owner.
5.
To the extent Seller and
Buyer have not executed a separate confidentiality agreement, any
and all information provided by or on behalf of Seller shall be treated
as confidential and shall only be used by Buyer for the purpose of
transactions between the parties.
https://www.avient.com/sites/default/files/2020-12/maxxam-fr-case-study.pdf
MEETING FR GOALS IN DATA CABLES WITH AN
ALTERNATIVE TO FEP
Maxxam FR materials can provide cost savings and improved
processing capabilities when used in category 5e cables
and above.
FEP provides such characteristics,
and thus is commonly chosen to provide category
cable insulation.
https://www.avient.com/sites/default/files/2020-07/core-vinyl-powder-coatings-product-bulletin.pdf
The CORE™
VBX Series of these vinyl powder formulations are
designed specifically for use in automotive interiors,
providing OEMs with superior haptics for items such
as door and instrument panels.
With multiple OEM
approvals, the VBX Series provides ease of product
acceptance and qualification with considerable
design flexibility.
Some of the information arises from laboratory work with small-scale equipment which may not provide a reliable
indication of performance or properties obtained or obtainable on larger-scale equipment.
https://www.avient.com/sites/default/files/2023-11/Renol Fiber Colorants Deep Black Product Bulletin.pdf
The colorants are provided as color
concentrate pellets added to the yarn during
spinning in the process known as spin-dyeing.
Our team of fiber
experts provides guidance to ensure that the desired
color intensity and performance are achieved in a
cost-efficient way.
Some of the information arises from laboratory work with small-scale equipment which may not provide a reliable indication
of performance or properties obtained or obtainable on larger-scale equipment.
https://www.avient.com/sites/default/files/2024-03/Global Supplier Quality Manual_2024.pdf
Successful supplier relationships make Avient
the preferred provider of specialized
materials, services, and solutions.
Should the need arise to return any purchased material, the supplier shall provide
Avient the required authorization for prompt material return.
4.3 Contingency / Disaster Recovery Plan
Suppliers shall have and maintain a contingency plan or disaster recovery plan for potential
catastrophes that may disrupt the flow of products to Avient plants.
This document is property of Avient
SQM Supplier Quality Manual
Sub-Tier Supplier An external provider supplying raw material to an
Avient supplier
Supplier An external provider supplying raw material to Avient
Supplier Corrective Action Evaluation and elimination of a supplier
nonconformance through the CAPA process
Supplier Nonconformance Product received from a supplier that does not meet
customer specifications; process or product that does
not meet defined customer or supplier requirement
or does not meet an international standard
https://www.avient.com/sites/default/files/2024-03/SEM Global Nylon Product Selection Guide_A4.pdf
They provide high mechanical
performance within tight specifications.
Some of the information arises from laboratory work with small-scale equipment which may not provide a reliable
indication of performance or properties obtained or obtainable on larger-scale equipment.