Second quarter sales grew 5.8% to $917 million, driven by 4.3% organic sales growth and 1.5% favorable foreign exchange, with organic growth in both business segmentsSecond quarter GAAP EPS of $0.70 compared to $0.57 in the prior year quarterSecond quarter adjusted EPS grew 20% over the prior year to $0.96; exceeded adjusted EPS guidance of $0.89, primarily driven by better-than-expected organic volume growthStrong cash flow generation in the quarter supported $50 million of debt repayment; expect to repay a total of $100 to $150 million during the full year 2026Increasing 2026 full year adjusted EPS guidance range to $3.10 to $3.25 from previous guidance of $2.93 to $3.17; updated full year adjusted EPS guidance range represents 10% to 15% growth over the prior yearCLEVELAND, Aug. 6, 2026 /PRNewswire/ -- Avient Corporation ( AVNT ) , an innovator of materials solutions, today announced its second quarter results for 2026. Second quarter GAAP earnings per share (EPS) were $0.70 compared to $0.57 in the prior year quarter.
The company noted that in the second quarter 2026, GAAP EPS includes special items of $0.09 and intangible amortization expense of $0.17 compared to special items of $0.07 and intangible amortization of $0.16 in the second quarter 2025 (see attachment 1).
Second quarter 2026 adjusted EPS was $0.96 compared to $0.80 in the prior year quarter, reflecting 20% growth in adjusted EPS over the prior year.
"Our teams delivered another quarter of strong execution, generating organic growth and adjusted EBITDA margin expansion in each of our two business segments. By remaining close to our customers, proactively managing inflation and supply chain disruptions, we delivered profitable growth across the portfolio," said Dr. Ashish Khandpur, Chairman, President and Chief Executive Officer, Avient Corporation.
"Organic sales growth was driven by a combination of market share gains, new product innovation, and pricing actions. Our performance reflects the team's execution of our strategy to intersect Avient's ( AVNT ) capabilities with high growth secular trends while driving productivity improvements to enable both top-line growth and margin expansion. As a result, organic sales grew 4.3% and adjusted EBITDA margins expanded by 110 basis points to a record high 18.3%." added Dr. Khandpur.
2026 Outlook
"Our teams once again demonstrated strong operational discipline to manage a volatile business environment while executing our strategy to drive long-term value creation. Supported by our year-to-date results and visibility into third quarter demand, we are increasing our full-year 2026 adjusted EBITDA guidance to $575 to $603 million and adjusted EPS guidance to $3.10 to $3.25, representing 10% to 15% adjusted EPS growth for the year," said Joe Di Salvo, Senior Vice President and Chief Financial Officer.
"Strong cash generation continues to support both investment in growth and balance sheet improvement. We expect to repay a total of $100 to $150 million of debt during 2026, including $50 million repaid during the second quarter," said Mr. Di Salvo.
Dr. Khandpur added, "Our strategy continues to produce strong financial results, delivering earnings growth in both 2024 and 2025 and positioning us to deliver double-digit adjusted EPS growth in 2026. As we look ahead, we remain focused on balancing strong near-term execution and financial performance with targeted investments in our prioritized growth portfolios, while continuing to serve our customers with innovation, quality, and reliability that underpin long-term value creation."
Webcast Details
Avient ( AVNT ) will provide additional details on its 2026 second quarter and its 2026 full year outlook during its webcast scheduled for 8:00 a.m. Eastern Time on August 6, 2026.
The webcast can be viewed live at avient.com/investors, or by clicking on the webcast link here. Conference call participants in the question and answer session should pre-register using the link at avient.com/investors, or here, to receive the dial-in number and personal PIN. This information is required to access the conference call. The question-and-answer session will follow the company's presentation and prepared remarks.
A recording of the webcast and the slide presentation will be available at avient.com/investors/events-presentations immediately following the conference call and will be accessible for one year.
Non-GAAP Financial Measures
The Company uses both GAAP (generally accepted accounting principles) and non-GAAP financial measures. The non-GAAP financial measures include organic performance (which excludes the impact of foreign exchange), adjusted EPS, adjusted operating income, adjusted EBITDA, adjusted EBITDA margins, free cash flow and adjusted free cash flow. Avient's ( AVNT ) chief operating decision maker uses these financial measures to monitor and evaluate the ongoing performance of the Company and each business segment and to allocate resources.
The Company does not provide reconciliations of forward-looking non-GAAP financial measures, such as adjusted EPS, adjusted EBITDA and free cash flow, to the most comparable GAAP financial measures on a forward-looking basis because the Company is unable to provide a meaningful or accurate calculation or estimation of reconciling items, and the information is not available without unreasonable effort. This is due to the inherent difficulty of forecasting the timing and amount of certain items, such as, but not limited to, environmental remediation costs and associated recoveries, mark-to-market adjustments on pension and other post-retirement obligations, acquisition-related charges, and other non-routine costs. Each of such adjustments has not yet occurred, are out of the Company's control and/or cannot be reasonably predicted. For the same reasons, the Company is unable to address the probable significance of the unavailable information.
To access Avient's ( AVNT ) news library online, please visit www.avient.com/news.
About Avient ( AVNT )
Our purpose at Avient Corporation ( AVNT ) is to be an innovator of materials solutions that help our customers succeed, while enabling a sustainable world. Our local touch and customer engagement, combined with our global presence, allows us to serve customers with agility. We harness the collective strength of more than 9,000 employees worldwide to collaborate and build on each other's ideas. In doing so, we innovate solutions that help our customers overcome their challenges or capitalize on opportunities provided by the fast-changing world and secular trends. Our expanding portfolio of offerings includes colorants, advanced composites, functional additives, engineered materials, and Dyneema®, the world's strongest fiber™. By intersecting our broad portfolio of technologies with the product roadmaps of our customers, we help create differentiated and high-performance products that make the world better and more sustainable. Visit www.avient.com to learn more.
Forward-looking Statements
In this press release, statements that are not reported financial results or other historical information are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements give current expectations or forecasts of future events and are not guarantees of future performance. They are based on management's expectations that involve a number of business risks and uncertainties, any of which could cause actual results to differ materially from those expressed in or implied by the forward-looking statements. They use words such as "will," "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," and other words and terms of similar meaning in connection with any discussion of future operating or financial condition, performance and/or sales. Factors that could cause actual results to differ materially from those implied by these forward-looking statements include, but are not limited to: disruptions, uncertainty or volatility in the global credit markets that could adversely impact the availability of credit already arranged and the availability and cost of credit in the future; the effect on foreign operations of currency fluctuations, tariffs and other political, economic and regulatory risks; disruptions or inefficiencies in our supply chain, logistics, or operations; changes in laws and regulations in jurisdictions where we conduct business, including with respect to plastics and climate change; changes to foreign trade policy, including new or increased tariffs and changing import/export regulation; fluctuations in raw material prices, quality and supply, and in energy prices and supply; demand for our products and services; production outages or material costs associated with scheduled or unscheduled maintenance programs; unanticipated developments that could occur with respect to contingencies such as litigation and environmental matters; our ability to pay regular quarterly cash dividends and the amounts and timing of any future dividends; information systems failures, cybersecurity breaches and cyberattacks; our ability to service our indebtedness and restrictions on our current and future operations due to our indebtedness; amounts for cash and non-cash charges related to restructuring plans that may differ from original estimates, including because of timing changes associated with the underlying actions; and other factors affecting our business beyond our control, including without limitation, changes in the general economy, changes in interest rates, changes in the rate of inflation, geopolitical conflicts and any recessionary conditions. The above list of factors is not exhaustive.
Any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to publicly update forward-looking statements, whether as a result of new information, future events or otherwise. You are advised to consult any further disclosures we make on related subjects in our reports on Form 10-Q, 8-K and 10-K that we provide to the Securities and Exchange Commission.
Attachment 1 | |||||||
| |||||||
Senior management uses comparisons of adjusted net income attributable to |
Three Months Ended | |||||||
2026 |
2025 | ||||||
Reconciliation to Condensed Consolidated Statements of Income |
$ |
EPS(1) |
$ |
EPS(1) | |||
Net income attributable to |
$ 64.8 |
$ 0.70 |
$ 52.6 |
$ 0.57 | |||
Special items, after-tax (Attachment 3) |
8.2 |
0.09 |
5.7 |
0.07 | |||
Amortization expense, after-tax |
15.3 |
0.17 |
15.2 |
0.16 | |||
Adjusted net income / EPS |
$ 88.3 |
$ 0.96 |
$ 73.5 |
$ 0.80 | |||
(1) Per share amounts may not recalculate from figures presented herein due to rounding |
Six Months Ended | |||||||
2026 |
2025 | ||||||
Reconciliation to Condensed Consolidated Statements of Income |
$ |
EPS(1) |
$ |
EPS(1) | |||
Net income attributable to |
$ 120.5 |
$ 1.31 |
$ 32.4 |
$ 0.35 | |||
Special items, after-tax (Attachment 3) |
13.7 |
0.15 |
81.4 |
0.89 | |||
Amortization expense, after-tax |
30.8 |
0.33 |
29.7 |
0.32 | |||
Adjusted net income / EPS |
$ 165.0 |
$ 1.79 |
$ 143.5 |
$ 1.56 | |||
(1) Per share amounts may not recalculate from figures presented herein due to rounding |
Year Ended | |||
Reconciliation to Condensed Consolidated Statements of Income |
$ |
EPS(1) | |
Net income attributable to |
$ 81.9 |
$ 0.89 | |
Special items, after-tax |
116.4 |
1.27 | |
Amortization expense, after-tax |
60.7 |
0.66 | |
Adjusted net income / EPS |
$ 259.0 |
$ 2.82 | |
(1) Per share amounts may not recalculate from figures presented herein due to rounding |
Attachment 2 | |||||||
| |||||||
Three Months Ended |
Six Months Ended | ||||||
2026 |
2025 |
2026 |
2025 | ||||
Sales |
$ 917.0 |
$ 866.5 |
$ 1,764.4 |
$ 1,693.1 | |||
Cost of sales |
609.4 |
588.6 |
1,184.2 |
1,152.0 | |||
Gross margin |
307.6 |
277.9 |
580.2 |
541.1 | |||
Selling and administrative expense |
195.2 |
181.8 |
372.0 |
444.3 | |||
Operating income |
112.4 |
96.1 |
208.2 |
96.8 | |||
Interest expense, net |
(22.3) |
(24.7) |
(44.3) |
(51.6) | |||
Other expense, net |
(1.0) |
(0.5) |
(2.5) |
(0.9) | |||
Income before income taxes |
89.1 |
70.9 |
161.4 |
44.3 | |||
Income tax expense |
(23.4) |
(17.4) |
(39.9) |
(10.7) | |||
Net income |
$ 65.7 |
$ 53.5 |
$ 121.5 |
$ 33.6 | |||
Net income attributable to noncontrolling interests |
(0.9) |
(0.9) |
(1.0) |
(1.2) | |||
Net income attributable to |
$ 64.8 |
$ 52.6 |
$ 120.5 |
$ 32.4 | |||
Earnings per share attributable to |
$ 0.71 |
$ 0.57 |
$ 1.31 |
$ 0.35 | |||
Earnings per share attributable to |
$ 0.70 |
$ 0.57 |
$ 1.31 |
$ 0.35 | |||
Cash dividends declared per share of common stock |
$ 0.2750 |
$ 0.2700 |
$ 0.5500 |
$ 0.5400 | |||
Weighted-average shares used to compute earnings per common share: |
|||||||
Basic |
91.7 |
91.5 |
91.7 |
91.5 | |||
Diluted |
92.2 |
91.8 |
92.2 |
91.8 | |||
Attachment 3 | |||||||
Summary of Special Items (Unaudited) (In millions, except per share data) | |||||||
Special items (1) |
Three Months Ended |
Six Months Ended | |||||
2026 |
2025 |
2026 |
2025 | ||||
Cost of sales: |
|||||||
Restructuring costs, including accelerated depreciation |
$ (1.6) |
$ (2.6) |
$ (4.8) |
$ (6.7) | |||
Environmental remediation costs |
(4.7) |
(1.8) |
(8.6) |
(6.7) | |||
Reimbursement of previously incurred environmental costs |
— |
0.6 |
0.3 |
1.9 | |||
Impact on cost of sales |
(6.3) |
(3.8) |
(13.1) |
(11.5) | |||
Selling and administrative expense: |
|||||||
Restructuring and employee separation costs |
(0.7) |
(2.7) |
(1.5) |
(7.8) | |||
Legal and other |
(2.3) |
(0.5) |
(3.6) |
(0.9) | |||
Cloud-based enterprise resource planning system impairment |
— |
— |
— |
(86.3) | |||
Impact on selling and administrative expense |
(3.0) |
(3.2) |
(5.1) |
(95.0) | |||
Impact on operating income |
(9.3) |
(7.0) |
(18.2) |
(106.5) | |||
Interest expense, net - financing costs |
— |
(0.3) |
— |
(2.0) | |||
Impact on income before income taxes |
(9.3) |
(7.3) |
(18.2) |
(108.5) | |||
Income tax benefit on special items |
1.8 |
1.6 |
3.8 |
27.1 | |||
Tax adjustments(2) |
(0.7) |
— |
0.7 |
— | |||
Impact of special items on net income |
$ (8.2) |
$ (5.7) |
$ (13.7) |
$ (81.4) | |||
Diluted earnings per common share impact |
$ (0.09) |
$ (0.07) |
$ (0.15) |
$ (0.89) | |||
Weighted average shares used to compute adjusted earnings per share: |
|||||||
Diluted |
92.2 |
91.8 |
92.2 |
91.8 | |||
(1) |
Special items include charges related to specific strategic initiatives or financial restructuring such as: consolidation of operations; debt extinguishment costs; costs incurred directly in relation to acquisitions or divestitures; employee separation costs resulting from personnel reduction programs, plant realignment costs, executive separation agreements; asset impairments; settlement gains or losses and mark-to-market adjustments associated with gains and losses on pension and other post-retirement benefit plans; environmental remediation costs, fines, penalties and related insurance recoveries related to facilities no longer owned or closed in prior years; gains and losses on facility or property sales or disposals; results of litigation, fines or penalties, where such litigation (or action relating to the fines or penalties) arose prior to the commencement of the performance period; one-time, non-recurring items; and the effect of changes in accounting principles or other such laws or provisions affecting reported results. |
(2) |
Tax adjustments include the net tax impact from non-recurring income tax items and certain adjustments to uncertain tax position reserves and valuation allowances. |
Three Months Ended | |||||||
2026 |
2025 | ||||||
Reconciliation to Condensed Consolidated Statements of Income |
$ |
EPS(1) |
$ |
EPS(1) | |||
Net income attributable to |
$ 64.8 |
$ 0.70 |
$ 52.6 |
$ 0.57 | |||
Special items, after-tax (Attachment 3) |
8.2 |
0.09 |
5.7 |
0.07 | |||
Amortization expense, after-tax |
15.3 |
0.17 |
15.2 |
0.16 | |||
Adjusted net income / EPS |
$ 88.3 |
$ 0.96 |
$ 73.5 |
$ 0.80 | |||
Three Months Ended | |||||||
2026 |
2025 | ||||||
Reconciliation to Condensed Consolidated Statements of Income |
$ |
EPS(1) |
$ |
EPS(1) | |||
Net income attributable to |
$ 64.8 |
$ 0.70 |
$ 52.6 |
$ 0.57 | |||
Special items, after-tax (Attachment 3) |
8.2 |
0.09 |
5.7 |
0.07 | |||
Amortization expense, after-tax |
15.3 |
0.17 |
15.2 |
0.16 | |||
Adjusted net income / EPS |
$ 88.3 |
$ 0.96 |
$ 73.5 |
$ 0.80 | |||
Three Months Ended | |||||||
2026 |
2025 | ||||||
Reconciliation to Condensed Consolidated Statements of Income |
$ |
EPS(1) |
$ |
EPS(1) | |||
Net income attributable to |
$ 64.8 |
$ 0.70 |
$ 52.6 |
$ 0.57 | |||
Special items, after-tax (Attachment 3) |
8.2 |
0.09 |
5.7 |
0.07 | |||
Amortization expense, after-tax |
15.3 |
0.17 |
15.2 |
0.16 | |||
Adjusted net income / EPS |
$ 88.3 |
$ 0.96 |
$ 73.5 |
$ 0.80 | |||
Three Months Ended | |||||||
2026 |
2025 | ||||||
Reconciliation to Condensed Consolidated Statements of Income |
$ |
EPS(1) |
$ |
EPS(1) | |||
Net income attributable to |
$ 64.8 |
$ 0.70 |
$ 52.6 |
$ 0.57 | |||
Special items, after-tax (Attachment 3) |
8.2 |
0.09 |
5.7 |
0.07 | |||
Amortization expense, after-tax |
15.3 |
0.17 |
15.2 |
0.16 | |||
Adjusted net income / EPS |
$ 88.3 |
$ 0.96 |
$ 73.5 |
$ 0.80 | |||
Three Months Ended | |||||||
2026 |
2025 | ||||||
Reconciliation to Condensed Consolidated Statements of Income |
$ |
EPS(1) |
$ |
EPS(1) | |||
Net income attributable to |
$ 64.8 |
$ 0.70 |
$ 52.6 |
$ 0.57 | |||
Special items, after-tax (Attachment 3) |
8.2 |
0.09 |
5.7 |
0.07 | |||
Amortization expense, after-tax |
15.3 |
0.17 |
15.2 |
0.16 | |||
Adjusted net income / EPS |
$ 88.3 |
$ 0.96 |
$ 73.5 |
$ 0.80 | |||
Three Months Ended | |||||||
2026 |
2025 | ||||||
Reconciliation to Condensed Consolidated Statements of Income |
$ |
EPS(1) |
$ |
EPS(1) | |||
Net income attributable to |
$ 64.8 |
$ 0.70 |
$ 52.6 |
$ 0.57 | |||
Special items, after-tax (Attachment 3) |
8.2 |
0.09 |
5.7 |
0.07 | |||
Amortization expense, after-tax |
15.3 |
0.17 |
15.2 |
0.16 | |||
Adjusted net income / EPS |
$ 88.3 |
$ 0.96 |
$ 73.5 |
$ 0.80 | |||
Three Months Ended | |||||||
2026 |
2025 | ||||||
Reconciliation to Condensed Consolidated Statements of Income |
$ |
EPS(1) |
$ |
EPS(1) | |||
Net income attributable to |
$ 64.8 |
$ 0.70 |
$ 52.6 |
$ 0.57 | |||
Special items, after-tax (Attachment 3) |
8.2 |
0.09 |
5.7 |
0.07 | |||
Amortization expense, after-tax |
15.3 |
0.17 |
15.2 |
0.16 | |||
Adjusted net income / EPS |
$ 88.3 |
$ 0.96 |
$ 73.5 |
$ 0.80 | |||
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SOURCE Avient Corporation ( AVNT )
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