AVON LAKE, Ohio (AP) — AVON LAKE, Ohio (AP) — Avient Corp (AVNT) on Thursday reported fourth-quarter earnings of $16.9 million.
On a per-share basis, the Avon Lake, Ohio-based company said it had profit of 18 cents. Earnings, adjusted for non-recurring costs and amortization costs, came to 56 cents per share.
The results exceeded Wall Street expectations. The average estimate of five 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 $760.6 million in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $748.3 million.
For the year, the company reported profit of $81.9 million, or 89 cents per share. Revenue was reported as $3.26 billion.
For the current quarter ending in March, Avient expects its per-share earnings to be 81 cents.
The company expects full-year earnings in the range of $2.93 to $3.17 per share.
Avient shares have risen 31% since the beginning of the year. The stock has fallen slightly more than 3% 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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