The company reported first quarter sales of $829 million compared to $845.7 million in the prior year quarter.

Avient Corporation announced its first quarter results for 2024. The company reported first-quarter sales of $829 million compared to $845.7 million in the prior year quarter. First quarter GAAP earnings per share (EPS) from continuing operations was $0.54 compared to $0.23 in the prior year quarter. "It is a positive start to the year, as we grew first quarter adjusted EPS by 21% over the prior year," said Dr. Ashish Khandpur, president and CEO, Avient Corporation. "Our performance was supported by strong demand for our Dyneema fiber technology used in personal protection applications and raw material deflation. These drivers resulted in total company adjusted EBITDA margin of 17.3% for the quarter, a 150 basis point year-over-year improvement." Dr. Khandpur added, "From a regional standpoint, the Americas continues to be the most resilient, delivering year over year sales growth in the first quarter. In Greater China, we also saw year over year growth primarily from industrial and healthcare end markets. The underlying growth in these regions helped offset softer demand in Europe and Southeast Asia." 2024 Outlook "Looking ahead to the second quarter, we expect adjusted EPS of $0.71, a 13% increase over the prior year," said Jamie Beggs, SVP and CFO, Avient Corporation. "We expect year over year demand improvement from consumer, packaging and defense end markets, which make up roughly half of our portfolio. We also expect raw material deflation to support margin expansion year over year, albeit to a lesser extent than in the first quarter." "We are focused on driving profitable, organic, top-line growth while expanding margins," added Dr. Khandpur. "To do so, we will amplify our innovation by prioritizing our investments in high growth end markets with attractive secular trends.”