Avient: Q1 Earnings Snapshot
AVON LAKE, Ohio (AP) _ Avient Corp (AVNT) on Friday reported first-quarter net income of $79.3 million.
The Avon Lake, Ohio-based company said it had net income of 86 cents per share. Earnings, adjusted for non-recurring costs, were 89 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 71 cents per share.
The maker of resins used in plastic pipe and other products posted revenue of $1.16 billion in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $1.09 billion.
Avient expects full-year earnings in the range of $2.40 to $2.80 per share.
Avient shares have risen 25% since the beginning of the year. The stock has more than doubled in the last 12 months.
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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
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