Avient Announces Record First Quarter 2021 Results; Increases Full Year Guidance
-- Organic revenues increased 17% to $1.16 billion driven by strong demand across all segments, with the most significant growth in healthcare and consumer end markets
-- GAAP EPS from continuing operations of $0.86 compared to $0.38 in the prior year quarter
-- Adjusted EPS from continuing operations of $0.89 expanded 68% over the prior year of $0.53 with all segments achieving record operating income
-- Full year adjusted EPS guidance for 2021 increased from $2.40 to $2.80 representing 45% growth over the prior year of $1.93.
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CLEVELAND, April 30, 2021 /PRNewswire/ -- Avient Corporation (NYSE: AVNT), a leading provider of specialized and sustainable material solutions, today reported its first quarter results for 2021. First quarter 2021 GAAP EPS from continuing operations was $0.86 compared to $0.38 in the prior year first quarter. The company noted that GAAP EPS includes special items (Attachment 3), which impacted EPS in both periods and were primarily associated with acquisition-related and restructuring costs. Unless otherwise noted herein, all comparisons to prior year results are pro forma for the Clariant Masterbatch acquisition.