Avient Announces 2nd Quarter 2022 Results.

CLEVELAND: Avient Corporation (NYSE: AVNT), a leading provider of specialized and sustainable solutions, today announced its second quarter 2022 results. The company delivered second quarter GAAP EPS of $0.92 compared to $0.74 in the prior year quarter. The company noted that GAAP EPS includes special items (Attachment 3), which impacted EPS in both periods.

"Overall, we are pleased with our performance as we have been able to overcome a number of continuing challenges including inflation, supply chain disruptions, extended lockdowns in China and the war in Ukraine," said Robert M. Patterson, Chairman, President and Chief Executive Officer, Avient Corporation. "Second quarter sales increased 5% over the prior year quarter to $1.3 billion, and adjusted EPS increased 13% (20% excluding negative foreign exchange) to $0.98."

Mr. Patterson added, "We have been on a multi-year journey to transform our portfolio and become a premier formulator of specialty and sustainable solutions. Our recent performance demonstrates the resiliency of our portfolio during challenging times."

As a continuation of its specialty transformation, the company announced in April it had entered into an agreement to acquire the DSM Protective Materials business (including the Dyneema(r)...