https://www.avient.com/sites/default/files/2022-11/Avient Announces Third Quarter 2022 Results.pdf
See Attachment 3 for a definition and summary of special items.
Three Months Ended
September 30,
Nine Months Ended
September 30,
2022 2021 2022 2021
Sales:
Color, Additives and Inks $ 565.6 $ 586.6 $ 1,864.2 $ 1,820.3
Specialty Engineered Materials 258.2 231.7 743.6 685.3
Corporate and eliminations (0.5) (0.3) (1.3) 2.9
Sales $ 823.3 $ 818.0 $ 2,606.5 $ 2,508.5
Gross margin:
Color, Additives and Inks $ 161.3 $ 172.1 $ 546.8 $ 563.0
Specialty Engineered Materials 66.9 61.4 201.3 192.6
Corporate and eliminations (32.8) (17.9) (37.4) (28.3)
Gross margin $ 195.4 $ 215.6 $ 710.7 $ 727.3
Selling and administrative expense:
Color, Additives and Inks $ 92.7 $ 105.3 $ 290.1 $ 321.1
Specialty Engineered Materials 35.5 31.4 96.4 94.2
Corporate and eliminations 26.6 26.1 81.3 82.4
Selling and administrative expense $ 154.8 $ 162.8 $ 467.8 $ 497.7
Operating income:
Color, Additives and Inks $ 68.6 $ 66.8 $ 256.7 $ 241.9
Specialty Engineered Materials 31.4 30.0 104.9 98.4
Corporate and eliminations (59.4) (44.0) (118.7) (110.7)
Operating income $ 40.6 $ 52.8 $ 242.9 $ 229.6
Depreciation & amortization:
Color, Additives and Inks $ 24.2 $ 26.6 $ 76.1 $ 79.2
Specialty Engineered Materials 12.9 7.9 28.4 23.8
Corporate and eliminations 2.7 2.1 9.2 4.1
Depreciation & Amortization $ 39.8 $ 36.6 $ 113.7 $ 107.1
Earnings before interest, taxes, depreciation and
amortization (EBITDA):
Color, Additives and Inks $ 92.8 $ 93.4 $ 332.8 $ 321.1
Specialty Engineered Materials 44.3 37.9 133.3 122.2
Corporate and eliminations (56.7) (41.9) (109.5) (106.6)
Other (expense) income, net (32.3) 1.6 (31.3) 4.3
EBITDA $ 48.1 $ 91.0 $ 325.3 $ 341.0
13
Attachment 7
Avient Corporation
Reconciliation of Non-GAAP Financial Measures (Unaudited)
(In millions, except per share data)
Senior management uses gross margin before special items and operating income before special items to assess performance
and allocate resources because senior management believes that these measures are useful in understanding current profitability
levels and how it may serve as a basis for future performance.
See Attachment 3 for a definition and summary of special items.
https://www.avient.com/investor-center/news/avient-announces-first-quarter-2022-results-connection-announcement-acquire-dsm-protective-materials-dyneema
See Attachment 3 for a definition and summary of special items.
Senior management uses gross margin before special items and operating income before special items to assess performance and allocate resources because senior management believes that these measures are useful in understanding current profitability levels and how it may serve as a basis for future performance.
See Attachment 3 for a definition and summary of special items.
https://www.avient.com/investor-center/news/avient-announces-registration-details-2023-sustainability-day
executive team, and the event will conclude with a question and answer session.
https://www.avient.com/investor-center/news/polyone-announces-appointment-woon-keat-moh-vice-president-asia
I look forward to leveraging these investments through increased collaboration among our fantastic team of associates in
https://www.avient.com/news/polyone-appoints-mark-crist-president-distribution-and-kurt-schuering-vice-president-global-key-account-management
At the same time, I am equally pleased that Kurt will now focus on serving PolyOne’s largest and global customers as the leader of our key account team.
https://www.avient.com/news/polyone-receives-award-excellence-qsr-and-qure-medical
Ross added, “During this time we developed more than 400 custom silicone solutions utilizing PolyOne’s specialty silicone colorants, and I would like to extend a special thanks to Tom Manello and the entire team at PolyOne for their ongoing collaboration with us.”
https://www.avient.com/investor-center/news/polyone-announces-michael-garratt-serve-interim-president-specialty-engineered-materials
Michael has a proven track record of leading global teams and delivering specialty innovation and growth," said
https://www.avient.com/knowledge-base/case-study/lighten-structural-performance-gets-upgrade
For the brace, Avient's engineering team developed and analyzed three options: a unidirectional, hybrid carbon and glass fiber profile; a unidirectional carbon fiber profile; and finally, a profile made with both a unidirectional carbon fiber and a transverse engineered fabric, which had the advantage of minimizing any potential cracks from propagating.
https://www.avient.com/news/polyone-showcases-its-expertise-and-comprehensive-medical-polymers-and-colorants-portfolio-mdm-west-2018
Expert team that collaborates with medical device OEMs and contract manufacturers to provide an unparalleled combination of material and application knowledge, advanced technical resources, and logistics expertise to optimize medical component performance and mitigate risk.
https://www.avient.com/knowledge-base/case-study/lighten-structural-performance-gets-upgrade?rtype[]=1124
For the brace, Avient's engineering team developed and analyzed three options: a unidirectional, hybrid carbon and glass fiber profile; a unidirectional carbon fiber profile; and finally, a profile made with both a unidirectional carbon fiber and a transverse engineered fabric, which had the advantage of minimizing any potential cracks from propagating.