Avient Reiterates FY23 EPS Outlook $2.40 Vs. $2.41 Estimate, Revenue $3.3B Vs. $3.39B Estimate
Portfolio Pulse from Benzinga Newsdesk
Avient Corporation (AVNT) has reiterated its FY23 EPS outlook of $2.40, which is slightly below the estimate of $2.41. The company also expects lower sales of $3.3 billion, compared to the estimated $3.39 billion. Avient believes it can offset any further weakening in demand conditions with strength in composites, improving margins, and cost reductions.
July 27, 2023 | 10:19 am
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Avient's FY23 EPS outlook and sales forecast are slightly below estimates. However, the company's strategy to offset potential demand drop could mitigate negative impacts.
Avient's EPS outlook and sales forecast are slightly below estimates, which could negatively impact the stock. However, the company's strategy to offset potential demand drop with strength in composites, improving margins, and cost reductions could mitigate these negative impacts. Therefore, the short-term impact on the stock is neutral.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100