Avient: Q2 Earnings Snapshot
AVON LAKE, Ohio (AP) — AVON LAKE, Ohio (AP) — Avient Corp (AVNT) on Tuesday reported second-quarter profit of $33.6 million.
On a per-share basis, the Avon Lake, Ohio-based company said it had net income of 36 cents. Earnings, adjusted for non-recurring costs and amortization costs, were 76 cents per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 72 cents per share.
The maker of resins used in plastic pipe and other products posted revenue of $849.7 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $841.2 million.
Avient expects full-year earnings in the range of $2.55 to $2.70 per share.
Avient shares have declined almost 2% since the beginning of the year. The stock has climbed 4% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AVNT at https://www.zacks.com/ap/AVNT