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) has declared a quarterly cash dividend of $0.2475 per share, marking the twelfth consecutive annual increase. The dividend will be paid on January 6, 2023, to stockholders of record on December 16, 2022. This increase elevates the annual dividend from $0.95 to $0.99 per share. The company has achieved a compounded annual growth rate of 16% since initiating its dividend in 2011, attributed to its transformation towards specialty applications in high-growth markets while navigating macroeconomic uncertainties.
Avient Corporation (NYSE: AVNT) will release its third quarter 2022 earnings on November 2, 2022, before market opening. A webcast presentation will follow at 8:00 a.m. Eastern Time, allowing investors to gain insights into the company’s performance. Participants can pre-register for the conference call to receive the necessary dial-in information. The recorded webcast and slide presentation will be available for one year post-call. Avient focuses on specialized sustainable materials, enhancing recyclability and energy efficiency.
Avient Corporation (NYSE: AVNT) announced key updates regarding its third quarter and full year 2022 forecast. The company completed the acquisition of DSM's Protective Materials business, including the Dyneema brand, on September 1, while preparing to divest its Distribution segment, expected to conclude in Q4. However, it has lowered its adjusted EPS guidance by $0.30 for 2022 due to reduced demand and adverse foreign exchange effects. The ongoing war in Ukraine and rising interest rates have further strained demand across regions.
Avient Corporation (NYSE: AVNT) has completed its acquisition of DSM's protective materials business, including the Dyneema® brand, now known as Avient Protective Materials. This acquisition enhances Avient's Specialty Engineered Materials segment, leveraging Dyneema®, recognized as the world's strongest fiber, used in high-performance applications. The acquisition includes six production facilities and four R&D centers globally, bolstering Avient's presence in advanced composites. The move is expected to drive innovation and growth in performance-focused material solutions.
Avient Corporation (NYSE: AVNT) announced a definitive agreement to sell its Distribution business to an affiliate of H.I.G. Capital for $950 million in cash, subject to regulatory approval. The transaction is expected to reduce net debt to adjusted EBITDA leverage to approximately 2.8x by year-end. After-tax proceeds of around $750 million will be used to manage near-term debt. This divestiture aligns with Avient's ongoing transformation into a pure play specialty formulator, following the acquisition of DSM's Protective Materials business.
Avient Corporation (NYSE: AVNT) announced the completion of debt financing to support its acquisition of DSM Protective Materials (Dyneema brand), set to close on September 1, 2022. The financing includes $725 million in senior notes due 2030 with a 7.125% interest rate, alongside a secured term loan due 2029. The all-in weighted average interest rate for financing is approximately 6.6%. With projected 2021 revenues of $4.8 billion, Avient aims to leverage the acquisition to enhance its specialized and sustainable material solutions.
Avient Corporation (NYSE: AVNT) has priced its previously announced offering of $725 million in senior notes due 2030, with an annual interest rate of 7.125%. The offering is expected to close on August 10, 2022, and will support the acquisition of DSM's protective materials business. If the acquisition is not consummated by April 19, 2023, the notes will be subject to mandatory redemption. The notes will be offered to qualified institutional buyers under Rule 144A and Regulation S.
Avient Corporation (NYSE: AVNT) announced a $725 million offering of senior notes due 2030, exempt from the registration requirements of the Securities Act. The proceeds will partially fund its acquisition of Royal DSM's protective materials business, including the Dyneema® Brand. The offering's closing is anticipated before the acquisition's completion, with a 'special mandatory redemption' condition if the acquisition does not finalize by April 19, 2023. The notes are aimed at qualified institutional buyers and will not be registered under the Securities Act.
Avient Corporation reported second quarter sales of $1.3 billion, marking a 5% increase from the previous year, and achieved an all-time quarterly record. GAAP EPS rose 24% to $0.92, while adjusted EPS increased 13% to $0.98, surpassing guidance. The results were driven by strong performance in the Americas, despite COVID-19 lockdowns in Shanghai. Avient maintained its full-year adjusted EPS guidance of $3.50 and introduced third-quarter guidance of $0.80. The company is on track for the acquisition of DSM Protective Materials, while exploring the sale of its Distribution business.
Avient Corporation (NYSE: AVNT) has declared a quarterly cash dividend of $0.2375 per share. The dividend will be paid on October 6, 2022 to stockholders of record as of September 16, 2022. In 2021, Avient reported revenues of $4.8 billion and specializes in sustainable material solutions that enhance product recyclability and reduce carbon footprints in transportation. The company employs around 8,800 associates and is recognized for its commitment to sustainability and workplace excellence.