Avient: Q3 Earnings Snapshot

AVON LAKE, Ohio (AP) — AVON LAKE, Ohio (AP) — Avient Corp (AVNT) on Wednesday reported third-quarter net income of $32.6 million.

The Avon Lake, Ohio-based company said it had profit of 36 cents per share. Earnings, adjusted for amortization costs and non-recurring costs, came to 70 cents per share.

The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 69 cents per share.

The maker of resins used in plastic pipe and other products posted revenue of $806.5 million in the period, missing Street forecasts. Five analysts surveyed by Zacks expected $821.4 million.

Avient expects full-year earnings in the range of $2.77 to $2.87 per share.

Avient shares have dropped 23% since the beginning of the year. The stock has declined 33% in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AVNT at https://www.zacks.com/ap/AVNT