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Avient: 3Q Earnings Snapshot

November 3, 2020 GMT

AVON LAKE, Ohio (AP) _ Avient Corp (AVNT) on Tuesday reported third-quarter earnings of $1.7 million.

On a per-share basis, the Avon Lake, Ohio-based company said it had net income of 2 cents. Earnings, adjusted for non-recurring costs, were 46 cents per share.

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 45 cents per share.

The maker of resins used in plastic pipe and other products posted revenue of $924.5 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $904.9 million.

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Avient shares have fallen 13% since the beginning of the year. The stock has climbed slightly 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