AVON LAKE, Ohio (AP) — AVON LAKE, Ohio (AP) — Avient Corp (AVNT) on Wednesday reported first-quarter earnings of $19.9 million.
The Avon Lake, Ohio-based company said it had profit of 22 cents per share. Earnings, adjusted for non-recurring costs and to account for discontinued operations, were 63 cents per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 55 cents per share.
The maker of resins used in plastic pipe and other products posted revenue of $845.7 million in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $837.4 million.
Avient shares have increased 13% since the beginning of the year. The stock has decreased 22% in the last 12 months.
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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