Avient Q2 Adj. EPS $0.63 Beats $0.60 Estimate, Sales $824.40M Miss $842.97M Estimate
Portfolio Pulse from Benzinga Newsdesk
Avient (NYSE:AVNT) reported Q2 earnings of $0.63 per share, beating the analyst consensus estimate of $0.60 by 5%. However, this is a 35.71% decrease from the same period last year. The company's quarterly sales were $824.40 million, missing the analyst consensus estimate of $842.97 million by 2.20%, and a 7.47% decrease from the same period last year.
July 27, 2023 | 10:16 am
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NEGATIVE IMPACT
Avient's Q2 earnings beat estimates but are significantly down YoY. Sales also missed estimates and are down YoY.
Avient's earnings beat estimates, which is positive. However, the YoY decrease in earnings and sales, and the missed sales estimates, are negative indicators that could impact the stock negatively in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100