Avient Corp Files Q3 2024 10-Q
Ticker: AVNT · Form: 10-Q · Filed: Nov 5, 2024 · CIK: 1122976
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
TL;DR
Avient's Q3 2024 10-Q is in. Check financials for latest performance.
AI Summary
Avient Corporation filed its 10-Q for the period ending September 30, 2024. The filing details the company's financial performance and position, including its balance sheet, income statement, and cash flow statement for the third quarter and the year-to-date period. Specific financial figures and operational highlights are presented within the report.
Why It Matters
This filing provides investors and analysts with the latest official financial data for Avient Corp, crucial for understanding the company's performance and making informed investment decisions.
Risk Assessment
Risk Level: low — This is a routine quarterly financial filing with no immediate red flags.
Key Numbers
- 2024 Q3 — Reporting Period (Covers the third quarter of 2024.)
- 2024-09-30 — As of Date (The specific date for which financial statements are reported.)
Key Players & Entities
- Avient Corp (company) — Filer of the 10-Q
- 20240930 (date) — End of the reporting period
- 20241105 (date) — Filing date
- Polyone Corp (company) — Former company name
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is the quarter ended September 30, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on November 5, 2024.
What was Avient Corp's former company name?
Avient Corp's former company name was Polyone Corp.
What is Avient Corp's primary industry classification?
Avient Corp's Standard Industrial Classification is Plastics, Materials, Syn Resins & Nonvulcan Elastomers [2821].
What is the fiscal year end for Avient Corp?
Avient Corp's fiscal year ends on December 31.
Filing Stats: 4,913 words · 20 min read · ~16 pages · Grade level 6.5 · Accepted 2024-11-05 15:40:12
Filing Documents
- avnt-20240930.htm (10-Q) — 941KB
- avnt-ex101_20240930.htm (EX-10.1) — 44KB
- avnt-ex311_20240930.htm (EX-31.1) — 9KB
- avnt-ex312_20240930.htm (EX-31.2) — 9KB
- avnt-ex321_20240930.htm (EX-32.1) — 5KB
- avnt-ex322_20240930.htm (EX-32.2) — 5KB
- image_0.jpg (GRAPHIC) — 13KB
- 0001122976-24-000066.txt ( ) — 4793KB
- avnt-20240930.xsd (EX-101.SCH) — 29KB
- avnt-20240930_cal.xml (EX-101.CAL) — 70KB
- avnt-20240930_def.xml (EX-101.DEF) — 122KB
- avnt-20240930_lab.xml (EX-101.LAB) — 441KB
- avnt-20240930_pre.xml (EX-101.PRE) — 284KB
- avnt-20240930_htm.xml (XML) — 593KB
— FINANCIAL INFORMATION
PART I — FINANCIAL INFORMATION
FINANCIAL STATEMENTS
ITEM 1. FINANCIAL STATEMENTS Avient Corporation Condensed Consolidated Statements of Income (Unaudited) (In millions, except per share data) Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Sales $ 815.2 $ 753.7 $ 2,493.9 $ 2,423.8 Cost of sales 553.8 558.4 1,696.7 1,740.2 Gross margin 261.4 195.3 797.2 683.6 Selling and administrative expense 184.2 161.0 553.5 529.9 Operating income 77.2 34.3 243.7 153.7 Interest expense, net ( 26.9 ) ( 30.3 ) ( 80.1 ) ( 88.5 ) Other (expense) income, net ( 0.3 ) 1.0 ( 2.1 ) 1.5 Income from continuing operations before income taxes 50.0 5.0 161.5 66.7 Income tax (expense) benefit ( 11.3 ) 0.1 ( 39.3 ) ( 18.0 ) Net income from continuing operations 38.7 5.1 122.2 48.7 Loss from discontinued operations, net of income taxes — — — ( 0.9 ) Net income $ 38.7 $ 5.1 $ 122.2 $ 47.8 Net income attributable to noncontrolling interests ( 0.5 ) — ( 1.0 ) ( 0.7 ) Net income attributable to Avient common shareholders $ 38.2 $ 5.1 $ 121.2 $ 47.1 Earnings (loss) per share attributable to Avient common shareholders - Basic Continuing operations $ 0.42 $ 0.06 $ 1.33 $ 0.53 Discontinued operations — — — ( 0.01 ) Total $ 0.42 $ 0.06 $ 1.33 $ 0.52 Earnings (loss) per share attributable to Avient common shareholders - Diluted Continuing operations $ 0.41 $ 0.06 $ 1.32 $ 0.52 Discontinued operations — — — ( 0.01 ) Total $ 0.41 $ 0.06 $ 1.32 $ 0.51 Weighted-average shares used to compute earnings per common share: Basic 91.3 91.1 91.3 91.1 Dilutive impact of share-based compensation 1.0 0.8 0.7 0.7 Diluted 92.3 91.9 92.0 91.8 Anti-dilutive shares not included in diluted common shares outstanding 0.4 0.5 0.4 0.6 Cash dividends declared per share of common stock $ 0.2575 $ 0.2475 $ 0.7725 $ 0.7425 See accompanying Notes to the Unaudited Condensed Consolidated Financial Statements. 1 AVIENT CORPORATION Avient Corporation Consolidated Statements of Comprehensive Income (Unaudi