Avient Corporation reports developments for a materials solutions company serving designers, plastic processors and industrial customers through colorants, advanced composites, functional additives, engineered materials and Dyneema fiber. Its updates frequently cover quarterly sales, GAAP and adjusted earnings, foreign exchange effects, margin performance, cash flow, debt repayment and full-year financial guidance.
Company news also includes dividend declarations and capital allocation actions, conference-call schedules and leadership changes. Business commentary often references Avient's Color, Additives and Inks and Specialty Engineered Materials activities, along with customer demand across packaging, construction, transportation, cosmetics and healthcare end markets.
Avient Corporation (NYSE: AVNT) will announce its fourth quarter 2020 earnings on February 9, 2021, before market open. Following the announcement, a conference call is scheduled for 9:00 a.m. ET on the same day. Investors can join the call by calling 1-844-835-7433 domestically or 1-914-495-8589 internationally, using conference ID 3293155. Recorded playback will be available for a week starting at 12:00 p.m. ET after the call. Avient reported pro forma revenues of approximately $3.8 billion in 2020, focusing on sustainable material solutions.
Avient Corporation (NYSE: AVNT) reported its third quarter results for 2020, with GAAP earnings per share (EPS) from continuing operations at $0.02, down from $0.30 in Q3 2019. However, adjusted EPS was $0.54, surpassing previous projections. Specialty Engineered Materials achieved record operating income of $24.7 million, a 27% increase year-over-year. The integration of Clariant Masterbatch is progressing well, with an increased synergy estimate of $75 million. Avient's cash on-hand reached $577 million, and net debt to adjusted EBITDA is expected to fall below 3.0x by year-end.
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Avient Corporation (NYSE: AVNT) has declared a quarterly dividend of $0.2125 per share, marking a 5% annual increase to $0.85 per share. This dividend will be paid on January 8, 2021, to stockholders on record by December 18, 2020, representing the tenth consecutive annual increase. The rise is attributed to expanding earnings and free cash flow. CEO Robert M. Patterson expressed confidence in future earnings growth, driven by improving demand conditions and synergies from the recent acquisition of Clariant Masterbatch, achieving record adjusted EBITDA levels.
Avient Corporation (NYSE: AVNT) will release its third quarter 2020 earnings on November 3, 2020, before market opening. A conference call will be held at 8:00 a.m. ET on the same day. Investors can access the call by dialing 1-844-835-7433 domestically or 1-914-495-8589 internationally, with a conference ID of 1743847. The replay will be available for one week starting at 11:00 a.m. ET on November 3. Avient reported pro forma revenues of $3.7 billion for 2020, focusing on sustainable material solutions.
On October 2, 2020, Avient Corporation (NYSE: AVNT) appointed Cathy K. Dodd as Senior Vice President and President of Distribution, succeeding Scott Horn, who retired after 39 years. Dodd, who joined Avient in 2014, has a strong background in marketing and has led initiatives to enhance customer service and brand presence. Avient, with pro forma revenues of $3.7 billion in 2019, provides sustainable material solutions, serving over 6,000 processors and OEMs across North America and Asia.
Avient Corporation (NYSE: AVNT) expects a strong third quarter with adjusted EPS of approximately $0.43, aided by recovery in demand and growth in the Specialty Engineered Materials segment, projected to achieve over 15% EBITDA growth. The acquisition of Clariant Masterbatch is yielding positive contributions, with adjusted EPS expected to reach $0.51, up 16% year-over-year. Avient anticipates third-quarter sales and adjusted EBITDA of around $905 million and $107 million, respectively, alongside estimated free cash flow of $80 million.
Avient Corporation (NYSE: AVNT) has appointed Jamie A. Beggs as the new Chief Financial Officer, succeeding Bradley C. Richardson, who will retire later this year. Ms. Beggs brings 20 years of financial leadership experience, previously serving as CFO at Hunt Consolidated and holding key roles at Celanese Corporation. Robert M. Patterson, CEO, expressed confidence in her ability to drive the company’s growth strategy. Avient reported pro forma revenues of $4.0 billion in 2019, focusing on sustainable material solutions across various industries.
Avient Corporation (NYSE: AVNT) reported its second quarter results for 2020 amidst the ongoing COVID-19 pandemic. While the pandemic impacted sales in the Americas and Europe, orders in Asia increased by 13%. Overall sales declined by 18.6%, primarily due to weak demand in automotive and consumer discretionary sectors. However, sales in healthcare applications and food packaging increased by 7% and 3%, respectively. The company successfully completed the acquisition of Clariant's masterbatch business, marking its largest acquisition to date, enhancing its specialty technology portfolio.
Avient Corporation (NYSE: AVNT) has declared a quarterly cash dividend of $0.2025 per share, payable on October 8, 2020, to stockholders of record on September 18, 2020. The company reported pro forma revenues of $4.0 billion for 2019, focusing on specialized and sustainable material solutions. Avient provides innovative technologies for food preservation, lightweight materials to improve fuel efficiency, and recyclability enhancements for various packaging. Their commitment to sustainability is reflected in their membership with the Alliance to End Plastic Waste.