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Avient (AVNT) Reports Q3 Earnings: What Key Metrics Have to Say
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For the quarter ended September 2023, Avient (AVNT - Free Report) reported revenue of $753.7 million, down 8.5% over the same period last year. EPS came in at $0.57, compared to $0.59 in the year-ago quarter.
The reported revenue represents a surprise of -3.77% over the Zacks Consensus Estimate of $783.26 million. With the consensus EPS estimate being $0.57, the company has not delivered EPS surprise.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Avient performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Sales- Specialty Engineered Materials: $267.90 million compared to the $290.28 million average estimate based on four analysts. The reported number represents a change of +3.8% year over year.
Sales- Color Additives and Inks: $486.50 million compared to the $494.90 million average estimate based on four analysts. The reported number represents a change of -14% year over year.
Sales- Corporate and eliminations: -$0.70 million compared to the -$0.73 million average estimate based on three analysts. The reported number represents a change of +40% year over year.
Operating Income (Loss)- Color Additives and Inks: $64.50 million versus $68.48 million estimated by four analysts on average.
Operating Income (Loss)- Specialty Engineered Materials: $30.30 million compared to the $40.18 million average estimate based on four analysts.
Operating Income (Loss)- Corporate and eliminations: -$60.50 million compared to the -$37.23 million average estimate based on three analysts.
Shares of Avient have returned -9% over the past month versus the Zacks S&P 500 composite's -1.1% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Avient (AVNT) Reports Q3 Earnings: What Key Metrics Have to Say
For the quarter ended September 2023, Avient (AVNT - Free Report) reported revenue of $753.7 million, down 8.5% over the same period last year. EPS came in at $0.57, compared to $0.59 in the year-ago quarter.
The reported revenue represents a surprise of -3.77% over the Zacks Consensus Estimate of $783.26 million. With the consensus EPS estimate being $0.57, the company has not delivered EPS surprise.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Avient performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Sales- Specialty Engineered Materials: $267.90 million compared to the $290.28 million average estimate based on four analysts. The reported number represents a change of +3.8% year over year.
- Sales- Color Additives and Inks: $486.50 million compared to the $494.90 million average estimate based on four analysts. The reported number represents a change of -14% year over year.
- Sales- Corporate and eliminations: -$0.70 million compared to the -$0.73 million average estimate based on three analysts. The reported number represents a change of +40% year over year.
- Operating Income (Loss)- Color Additives and Inks: $64.50 million versus $68.48 million estimated by four analysts on average.
- Operating Income (Loss)- Specialty Engineered Materials: $30.30 million compared to the $40.18 million average estimate based on four analysts.
- Operating Income (Loss)- Corporate and eliminations: -$60.50 million compared to the -$37.23 million average estimate based on three analysts.
View all Key Company Metrics for Avient here>>>Shares of Avient have returned -9% over the past month versus the Zacks S&P 500 composite's -1.1% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.