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Avient (AVNT) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended June 2024, Avient (AVNT - Free Report) reported revenue of $849.7 million, up 3.1% 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 +1.01% over the Zacks Consensus Estimate of $841.18 million. With the consensus EPS estimate being $0.72, the EPS surprise was +5.56%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
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
: $308.10 million versus the three-analyst average estimate of $310.58 million. The reported number represents a year-over-year change of +2.4%.
Sales- Color, Additives and Inks
: $542 million versus the three-analyst average estimate of $531.63 million. The reported number represents a year-over-year change of +3.3%.
Sales- Corporate
: -$0.40 million versus -$0.95 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -55.6% change.
Operating Income (Loss)- Color, Additives and Inks
: $86.10 million compared to the $80.32 million average estimate based on three analysts.
Operating Income (Loss)- Specialty Engineered Materials
: $42.80 million versus $44.40 million estimated by three analysts on average.
Operating Income (Loss)- Corporate
: -$56.40 million compared to the -$38.10 million average estimate based on two analysts.
Shares of Avient have returned -3.2% over the past month versus the Zacks S&P 500 composite's -6.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Avient (AVNT) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended June 2024, Avient (AVNT - Free Report) reported revenue of $849.7 million, up 3.1% 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 +1.01% over the Zacks Consensus Estimate of $841.18 million. With the consensus EPS estimate being $0.72, the EPS surprise was +5.56%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
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:
View all Key Company Metrics for Avient here>>>Sales- Specialty Engineered Materials
: $308.10 million versus the three-analyst average estimate of $310.58 million. The reported number represents a year-over-year change of +2.4%.Sales- Color, Additives and Inks
: $542 million versus the three-analyst average estimate of $531.63 million. The reported number represents a year-over-year change of +3.3%.Sales- Corporate
: -$0.40 million versus -$0.95 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -55.6% change.Operating Income (Loss)- Color, Additives and Inks
: $86.10 million compared to the $80.32 million average estimate based on three analysts.Operating Income (Loss)- Specialty Engineered Materials
: $42.80 million versus $44.40 million estimated by three analysts on average.Operating Income (Loss)- Corporate
: -$56.40 million compared to the -$38.10 million average estimate based on two analysts.Shares of Avient have returned -3.2% over the past month versus the Zacks S&P 500 composite's -6.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.