Avient Corporation Reports Fourth Quarter and Full Year 2024 Results

Avient Corporation, a leading innovator of materials solutions, has released its financial results for the fourth quarter and full year of 2024. The company reported notable growth in sales and earnings, driven by strong performance across all regions and segments.

Financial Highlights

For the fourth quarter of 2024, Avient reported sales of $747 million, a 4% increase compared to the same period in the previous year. Full year sales reached $3,240 million, marking a 3% year-over-year growth. The company's GAAP earnings per share (EPS) from continuing operations were $0.52 for the fourth quarter and $1.84 for the full year, compared to $0.30 and $0.83 in the prior year, respectively. Adjusted EPS for the fourth quarter was $0.49, slightly above the mid-point of the guidance range, and full year adjusted EPS was $2.66, reflecting a 13% increase over the previous year.

Business and Operational Highlights

Avient achieved 5% organic sales growth in the fourth quarter, with all geographic regions contributing positively. The U.S. and Canada saw a 6% growth, EMEA 1%, Asia 7%, and Latin America 14%. The company's two main segments, Color, Additives and Inks, and Specialty Engineered Materials, grew by 3% and 6%, respectively. Additionally, adjusted EBITDA margins expanded by 90 and 110 basis points in these segments over 2023.

Strategic Initiatives and Corporate Developments

Avient's strategic focus on generating organic sales growth with margin expansion has paid off, as evidenced by the company's strong performance in 2024. The company also reported its safest year in history in terms of safety performance. Looking ahead, Avient has outlined a strategy to grow organic sales 100-200 basis points above GDP with margin expansion by leveraging high growth markets and secular trends.

Management's Perspective

Dr. Ashish Khandpur, President and CEO of Avient, expressed satisfaction with the company's performance, highlighting the 5% organic sales growth achieved despite a challenging macro environment. Dr. Khandpur emphasized the company's focus on customer engagement and execution of its strategy. Jamie Beggs, Senior Vice President and CFO, noted that the company is well-positioned to execute its strategy in 2025, with a projected first quarter adjusted EPS of $0.76, which includes a $0.04 foreign exchange headwind.

Future Outlook

For 2025, Avient expects full year adjusted EPS to range from $2.70 to $2.94, with the mid-point representing an 11% growth excluding the unfavorable impact of foreign exchange. The company also projects an adjusted EBITDA range of $540 to $570 million. Despite uncertainties in the macro environment, Avient remains focused on its long-term financial targets and strategic execution.

SEC Filing: AVIENT CORP [ AVNT ] - 8-K - Feb. 13, 2025