AVON LAKE, Ohio (AP) — AVON LAKE, Ohio (AP) — Avient Corp (AVNT) on Thursday reported second-quarter earnings of $64.8 million.
The Avon Lake, Ohio-based company said it had net income of 70 cents per share. Earnings, adjusted for amortization costs and non-recurring costs, came to 96 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 89 cents per share.
The maker of resins used in plastic pipe and other products posted revenue of $917 million in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $895.3 million.
Avient expects full-year earnings in the range of $3.10 to $3.25 per share.
Avient shares have risen 21% since the beginning of the year. The stock has risen 11% in the last 12 months.
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