Avient (AVNT) Reports Q4 Earnings: What Key Metrics Have to Say
For the quarter ended December 2023, Avient (AVNT) reported revenue of $719 million, down 9% over the same period last year. EPS came in at $0.52, compared to $0.39 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $709.35 million, representing a surprise of +1.36%. The company delivered an EPS surprise of +10.64%, with the consensus EPS estimate being $0.47.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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- Specialty Engineered Materials: $259.80 million compared to the $253.84 million average estimate based on four analysts. The reported number represents a change of -13.6% year over year.
Sales- Color Additives and Inks: $459.40 million versus $458.29 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -6.4% change.
Sales- Corporate and eliminations: -$0.20 million versus -$1.10 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -83.3% change.
Operating Income (Loss)- Color Additives and Inks: $61.80 million versus $59.56 million estimated by four analysts on average.
Operating Income (Loss)- Specialty Engineered Materials: $29.40 million compared to the $30.36 million average estimate based on four analysts.
Operating Income (Loss)- Corporate and eliminations: -$48.10 million compared to the -$36.73 million average estimate based on three analysts.
View all Key Company Metrics for Avient here>>>
Shares of Avient have returned -2.6% over the past month versus the Zacks S&P 500 composite's +3.7% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Avient Corporation (AVNT) : Free Stock Analysis Report
