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Here's What Key Metrics Tell Us About Avient (AVNT) Q2 Earnings
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Avient (AVNT - Free Report) reported $824.4 million in revenue for the quarter ended June 2023, representing a year-over-year decline of 36.7%. EPS of $0.63 for the same period compares to $0.98 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $848.85 million, representing a surprise of -2.88%. The company delivered an EPS surprise of +3.28%, with the consensus EPS estimate being $0.61.
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- Color Additives and Inks: $524.50 million versus the four-analyst average estimate of $548.49 million. The reported number represents a year-over-year change of -19.2%.
Sales- Specialty Engineered Materials: $300.80 million versus the four-analyst average estimate of $307.52 million. The reported number represents a year-over-year change of +23.3%.
Sales- Corporate and eliminations: -$0.90 million versus -$0.60 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -97.3% change.
Operating Income (Loss)- Color Additives and Inks: $68 million versus $68.23 million estimated by four analysts on average.
Operating Income (Loss)- Specialty Engineered Materials: $39.70 million versus the four-analyst average estimate of $42.47 million.
Operating Income (Loss)- Corporate and eliminations: -$45.40 million versus the two-analyst average estimate of -$25.70 million.
Shares of Avient have returned +5.6% over the past month versus the Zacks S&P 500 composite's +5.6% 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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Here's What Key Metrics Tell Us About Avient (AVNT) Q2 Earnings
Avient (AVNT - Free Report) reported $824.4 million in revenue for the quarter ended June 2023, representing a year-over-year decline of 36.7%. EPS of $0.63 for the same period compares to $0.98 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $848.85 million, representing a surprise of -2.88%. The company delivered an EPS surprise of +3.28%, with the consensus EPS estimate being $0.61.
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- Color Additives and Inks: $524.50 million versus the four-analyst average estimate of $548.49 million. The reported number represents a year-over-year change of -19.2%.
- Sales- Specialty Engineered Materials: $300.80 million versus the four-analyst average estimate of $307.52 million. The reported number represents a year-over-year change of +23.3%.
- Sales- Corporate and eliminations: -$0.90 million versus -$0.60 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -97.3% change.
- Operating Income (Loss)- Color Additives and Inks: $68 million versus $68.23 million estimated by four analysts on average.
- Operating Income (Loss)- Specialty Engineered Materials: $39.70 million versus the four-analyst average estimate of $42.47 million.
- Operating Income (Loss)- Corporate and eliminations: -$45.40 million versus the two-analyst average estimate of -$25.70 million.
View all Key Company Metrics for Avient here>>>Shares of Avient have returned +5.6% over the past month versus the Zacks S&P 500 composite's +5.6% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.