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Avient (AVNT) Q1 Earnings: How Key Metrics Compare to Wall Street Estimates
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For the quarter ended March 2024, Avient (AVNT - Free Report) reported revenue of $829 million, down 2% over the same period last year. EPS came in at $0.76, compared to $0.63 in the year-ago quarter.
The reported revenue represents a surprise of +0.43% over the Zacks Consensus Estimate of $825.45 million. With the consensus EPS estimate being $0.69, the EPS surprise was +10.14%.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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: $314.40 million versus $291.08 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +1.5% change.
Sales- Color Additives and Inks: $515.30 million versus $535.18 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -4% change.
Sales- Corporate and eliminations: -$0.70 million versus the three-analyst average estimate of -$0.93 million. The reported number represents a year-over-year change of -30%.
Operating Income (Loss)- Color Additives and Inks: $74.80 million versus the four-analyst average estimate of $77.17 million.
Operating Income (Loss)- Specialty Engineered Materials: $53.40 million compared to the $38.97 million average estimate based on four analysts.
Operating Income (Loss)- Corporate and eliminations: -$34.20 million versus -$36.02 million estimated by three analysts on average.
Shares of Avient have returned +4.1% over the past month versus the Zacks S&P 500 composite's -0.4% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Avient (AVNT) Q1 Earnings: How Key Metrics Compare to Wall Street Estimates
For the quarter ended March 2024, Avient (AVNT - Free Report) reported revenue of $829 million, down 2% over the same period last year. EPS came in at $0.76, compared to $0.63 in the year-ago quarter.
The reported revenue represents a surprise of +0.43% over the Zacks Consensus Estimate of $825.45 million. With the consensus EPS estimate being $0.69, the EPS surprise was +10.14%.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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: $314.40 million versus $291.08 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +1.5% change.
- Sales- Color Additives and Inks: $515.30 million versus $535.18 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -4% change.
- Sales- Corporate and eliminations: -$0.70 million versus the three-analyst average estimate of -$0.93 million. The reported number represents a year-over-year change of -30%.
- Operating Income (Loss)- Color Additives and Inks: $74.80 million versus the four-analyst average estimate of $77.17 million.
- Operating Income (Loss)- Specialty Engineered Materials: $53.40 million compared to the $38.97 million average estimate based on four analysts.
- Operating Income (Loss)- Corporate and eliminations: -$34.20 million versus -$36.02 million estimated by three analysts on average.
View all Key Company Metrics for Avient here>>>Shares of Avient have returned +4.1% over the past month versus the Zacks S&P 500 composite's -0.4% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.