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NEW YORK - Avient Corporation reported fourth-quarter earnings on Thursday that met expectations, but revenue fell short of analyst estimates, sending shares down 5.10% in pre-market trading.
The materials solutions innovator reported adjusted earnings per share (EPS) of $0.49 for the fourth quarter, in line with analyst estimates. However, revenue came in at $747 million, below the consensus estimate of $755.91 million.
Despite the revenue miss, Avient saw organic sales growth of 5% in the quarter, with positive growth across all geographic regions. The U.S. and Canada led with 6% growth, followed by Asia at 7%, Latin America at 14%, and EMEA at 1%.
"Our teams remained focused and delivered 5% organic sales growth in the quarter with a backdrop of U.S. elections, inflation fears, and a changing geopolitical climate," said Dr. Ashish Khandpur, President and CEO of Avient Corporation.
For the full year 2024, Avient reported adjusted EPS of $2.66, representing a 13% increase over the prior year. The company achieved organic sales growth in both its Color, Additives and Inks and Specialty Engineered Materials segments, growing at 3% and 6% respectively.
Looking ahead, Avient provided guidance for the first quarter of 2025, projecting adjusted EPS of $0.76, in line with analyst expectations. However, this includes a $0.04 foreign exchange headwind due to the stronger U.S. dollar.
For the full year 2025, Avient expects adjusted EPS to range from $2.70 to $2.94. The mid-point of this range represents 11% growth when excluding the unfavorable impact of foreign exchange of $0.12.
"The current macro environment presents several uncertainties related to policy, inflation, foreign exchange and interest rates which provides for a broader set of potential outcomes for the year," said Jamie Beggs, Senior Vice President and CFO of Avient Corporation.
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