Overview

* Avient ( AVNT ) Q2 sales rise 2% yr/yr, beating analyst expectations, per LSEG data

* Adjusted EPS for Q2 exceeds guidance and analyst estimates, per LSEG data

* Co repaid $50 mln debt in Q2, aiming for $100-$200 mln reduction by year-end

* Avient Corp ( AVNT ) shares up 5.8% premarket

Outlook

* Avient ( AVNT ) narrows full-year adjusted EPS guidance to $2.77-$2.87

* Company expects Q3 adjusted EPS of $0.70, up 8% year-over-year

* Avient ( AVNT ) sees full-year adjusted EBITDA between $545 mln and $560 mln

* Company plans to reduce debt by $100 mln to $200 mln by year-end

Result Drivers

* ORGANIC REVENUE GROWTH - Driven by strategic execution and customer focus, per CEO Dr. Ashish Khandpur

* MIXED DEMAND - Resilient defense and healthcare demand offset weak consumer demand, per CEO Dr. Ashish Khandpur

* MARGIN EXPANSION - Achieved through productivity and cost discipline, per CEO Dr. Ashish Khandpur

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Sales Beat $866.50 $853.20

mln mln (6

Analysts

)

Q2 Beat $0.8 $0.79 (8

Adjusted Analysts

EPS )

Q2 EPS $0.57

Q2 $96.10

Operatin mln

g Income

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the specialty chemicals peer group is "buy"

* Wall Street's median 12-month price target for Avient Corp ( AVNT ) is $41.50, about 23.9% above its July 31 closing price of $31.57

* The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 11 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)