AVON LAKE, Ohio (AP) — AVON LAKE, Ohio (AP) — Avient Corp (AVNT) on Friday reported second-quarter net income of $52.6 million.
On a per-share basis, the Avon Lake, Ohio-based company said it had profit of 57 cents. Earnings, adjusted for amortization costs and non-recurring costs, came to 80 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 78 cents per share.
The maker of resins used in plastic pipe and other products posted revenue of $866.5 million in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $851.4 million.
Avient expects full-year earnings in the range of $2.77 to $2.87 per share.
Avient shares have declined 23% since the beginning of the year. The stock has decreased 30% 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