AVNT FY 2013 Earnings Report — Avient Corporation Revenue & Financial Results | Market Cap Arena

Avient CorporationAVNT

FY 2013 Earnings

Reported February 13, 2014

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2013	Prior Q	FY 2012	QoQ Change	YoY Change
Revenue	$3.8B	—	$3.0B	—	26.0%
Op. Income	$232M	—	$167M	—	38.5%
Gross Margin	17.6%	—	18.9%	—	-1.3pp
Net Margin	6.5%	—	2.4%	—	4.1pp
EPS (Diluted)	$2.53	—	$0.80	—	216.2%
Free Cash Flow	$33M	—	$50M	—	-34.1%

Revenue Flow

Item	Amount
REVENUE	$3.8B
Cost of Revenue	$3.1B
GROSS PROFIT	$662M
R&D Expenses	$53M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$458M
Other Expenses	-$1M
Operating Expenses	$458M
Cost & Expenses	$3.6B
OPERATING INCOME	$232M
Interest Income	$0
Interest Expense	$64M
Other Income/Expenses	-$81M
INCOME BEFORE TAX	$151M
Income Tax Expense	$58M
Net Income from Continuing Ops	$93M
Net Income from Discontinued Ops	$0
Other Adjustments	$150M
NET INCOME	$244M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$244M
D&A	$110M
EBIT	$215M
EBITDA	$325M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$3.8B
Cost of Revenue	$3.1B
GROSS PROFIT	$662M
R&D Expenses	$53M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$458M
Other Expenses	-$1M
Operating Expenses	$458M
Cost & Expenses	$3.6B
OPERATING INCOME	$232M
Interest Income	$0
Interest Expense	$64M
Other Income/Expenses	-$81M
INCOME BEFORE TAX	$151M
Income Tax Expense	$58M
Net Income from Continuing Ops	$93M
Net Income from Discontinued Ops	$0
Other Adjustments	$150M
NET INCOME	$244M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$244M
D&A	$110M
EBIT	$215M
EBITDA	$325M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$243M
Depreciation & Amortization	$110M
Stock-Based Compensation	$17M
Deferred Income Tax	$13M
Other Non-Cash Items	-$248M
Change in Working Capital	-$25M
OPERATING CASH FLOW	$109M
Capital Expenditure	-$76M
Acquisitions (Net)	$16M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$276M
NET CASH FROM INVESTING	-$60M
Net Debt Issuance	$268M
Common Stock Repurchased	-$132M
Common Dividends Paid	-$22M
Other Financing Activities	-$18M
NET CASH FROM FINANCING	$105M
FREE CASH FLOW	$33M
Net Change in Cash	$155M

Balance Sheet

Item	Amount
Cash & Equivalents	$365M
Short-Term Investments	$0
Net Receivables	$428M
Inventory	$343M
Other Current Assets	$118M
TOTAL CURRENT ASSETS	$1.2B
PP&E (Net)	$646M
Goodwill	$557M
Intangible Assets	$366M
Long-Term Investments	-$134M
Tax Assets	$134M
Other Non-Current Assets	$118M
TOTAL NON-CURRENT ASSETS	$1.7B
TOTAL ASSETS	$2.9B
Account Payables	$387M
Short-Term Debt	$13M
Deferred Revenue	$191M
Other Current Liabilities	$40M
TOTAL CURRENT LIABILITIES	$603M
Long-Term Debt	$976M
Deferred Revenue NC	$77M
Deferred Tax Liabilities	$122M
Other Non-Current Liabilities	$381M
TOTAL NON-CURRENT LIABILITIES	$1.3B
TOTAL LIABILITIES	$2.0B
Common Stock	$1M
Additional Paid-In Capital	$1.1B
Retained Earnings	$212M
Treasury Stock	-$371M
Accum. Other Comp. Income	-$15M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$977M
Minority Interest	$2M
TOTAL EQUITY	$979M
TOTAL LIABILITIES & EQUITY	$2.9B
Total Debt	$989M
Net Debt	$624M