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Avient (AVNT) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended March 2023, Avient (AVNT - Free Report) reported revenue of $845.7 million, down 34.6% over the same period last year. EPS came in at $0.63, compared to $0.99 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $837.4 million, representing a surprise of +0.99%. The company delivered an EPS surprise of +14.55%, with the consensus EPS estimate being $0.55.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Avient performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Sales- Global Specialty Engineered Materials [$M]: $309.70 million versus the four-analyst average estimate of $302.95 million.
Sales- Global Color Additives and Inks [$M]: $537 million versus $538.14 million estimated by four analysts on average.
Sales- Corporate and eliminations [$M]: -$1 million versus -$0.73 million estimated by three analysts on average.
Operating Income (Loss)- Specialty Engineered Materials: $43.10 million compared to the $42.40 million average estimate based on four analysts.
Operating Income / loss- Color Additives and Inks: $65.60 million versus the four-analyst average estimate of $65.45 million.
Shares of Avient have returned -4.6% over the past month versus the Zacks S&P 500 composite's +0.4% 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) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended March 2023, Avient (AVNT - Free Report) reported revenue of $845.7 million, down 34.6% over the same period last year. EPS came in at $0.63, compared to $0.99 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $837.4 million, representing a surprise of +0.99%. The company delivered an EPS surprise of +14.55%, with the consensus EPS estimate being $0.55.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Avient performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Sales- Global Specialty Engineered Materials [$M]: $309.70 million versus the four-analyst average estimate of $302.95 million.
- Sales- Global Color Additives and Inks [$M]: $537 million versus $538.14 million estimated by four analysts on average.
- Sales- Corporate and eliminations [$M]: -$1 million versus -$0.73 million estimated by three analysts on average.
- Operating Income (Loss)- Specialty Engineered Materials: $43.10 million compared to the $42.40 million average estimate based on four analysts.
- Operating Income / loss- Color Additives and Inks: $65.60 million versus the four-analyst average estimate of $65.45 million.
View all Key Company Metrics for Avient here>>>Shares of Avient have returned -4.6% over the past month versus the Zacks S&P 500 composite's +0.4% 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.