AVNT FY 2019 Earnings Report — Avient Corporation Revenue & Financial Results | Market Cap Arena

Avient CorporationAVNT

FY 2019 Earnings

Reported February 18, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$2.9B	—	$3.5B	—	-19.0%
Op. Income	$157M	—	$274M	—	-42.7%
Gross Margin	23.0%	—	21.1%	—	1.9pp
Net Margin	20.6%	—	4.5%	—	16.0pp
EPS (Diluted)	$0.97	—	$1.99	—	-51.3%
Free Cash Flow	$220M	—	$178M	—	23.8%

Revenue Flow

Item	Amount
REVENUE	$2.9B
Cost of Revenue	$2.2B
GROSS PROFIT	$657M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$500M
Other Expenses	$0
Operating Expenses	$500M
Cost & Expenses	$2.7B
OPERATING INCOME	$157M
Interest Income	$0
Interest Expense	$60M
Other Income/Expenses	-$47M
INCOME BEFORE TAX	$109M
Income Tax Expense	$34M
Net Income from Continuing Ops	$76M
Net Income from Discontinued Ops	$513M
Other Adjustments	$0
NET INCOME	$589M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$589M
D&A	$88M
EBIT	$169M
EBITDA	$256M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$2.9B
Cost of Revenue	$2.2B
GROSS PROFIT	$657M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$500M
Other Expenses	$0
Operating Expenses	$500M
Cost & Expenses	$2.7B
OPERATING INCOME	$157M
Interest Income	$0
Interest Expense	$60M
Other Income/Expenses	-$47M
INCOME BEFORE TAX	$109M
Income Tax Expense	$34M
Net Income from Continuing Ops	$76M
Net Income from Discontinued Ops	$513M
Other Adjustments	$0
NET INCOME	$589M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$589M
D&A	$88M
EBIT	$169M
EBITDA	$256M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$589M
Depreciation & Amortization	$88M
Stock-Based Compensation	$12M
Deferred Income Tax	-$3M
Other Non-Cash Items	-$455M
Change in Working Capital	$71M
OPERATING CASH FLOW	$302M
Capital Expenditure	-$82M
Acquisitions (Net)	$642M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$51M
NET CASH FROM INVESTING	$612M
Net Debt Issuance	-$129M
Common Stock Repurchased	-$27M
Common Dividends Paid	-$60M
Other Financing Activities	-$3M
NET CASH FROM FINANCING	-$219M
FREE CASH FLOW	$220M
Net Change in Cash	$694M

Balance Sheet

Item	Amount
Cash & Equivalents	$865M
Short-Term Investments	$0
Net Receivables	$330M
Inventory	$261M
Other Current Assets	$58M
TOTAL CURRENT ASSETS	$1.5B
PP&E (Net)	$471M
Goodwill	$686M
Intangible Assets	$469M
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$134M
TOTAL NON-CURRENT ASSETS	$1.8B
TOTAL ASSETS	$3.3B
Account Payables	$288M
Short-Term Debt	$18M
Deferred Revenue	$0
Other Current Liabilities	$193M
TOTAL CURRENT LIABILITIES	$703M
Long-Term Debt	$1.2B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$64M
Other Non-Current Liabilities	$201M
TOTAL NON-CURRENT LIABILITIES	$1.5B
TOTAL LIABILITIES	$2.2B
Common Stock	$1M
Additional Paid-In Capital	$1.2B
Retained Earnings	$1.0B
Treasury Stock	-$1.0B
Accum. Other Comp. Income	-$83M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.1B
Minority Interest	$800.0K
TOTAL EQUITY	$1.1B
TOTAL LIABILITIES & EQUITY	$3.3B
Total Debt	$1.3B
Net Debt	$428M