AVNT Q2 2016 Earnings Report — Avient Corporation Revenue & Financial Results | Market Cap Arena

Avient CorporationAVNT

Q2 2016 Earnings

Reported July 27, 2016

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q2 2016	Q1 2016	Q2 2015	QoQ Change	YoY Change
Revenue	$862M	$847M	—	1.7%	—
Op. Income	$82M	$71M	—	14.3%	—
Gross Margin	22.3%	21.9%	—	0.4pp	—
Net Margin	5.8%	4.6%	—	1.2pp	—
EPS (Diluted)	$0.59	$0.46	—	28.3%	—
Free Cash Flow	$59M	-$49M	—	220.1%	—

Revenue Flow

Item	Amount
REVENUE	$862M
Cost of Revenue	$669M
GROSS PROFIT	$192M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$111M
Other Expenses	$100.0K
Operating Expenses	$111M
Cost & Expenses	$780M
OPERATING INCOME	$82M
Interest Income	$0
Interest Expense	$15M
Other Income/Expenses	-$15M
INCOME BEFORE TAX	$67M
Income Tax Expense	$17M
Net Income from Continuing Ops	$50M
Net Income from Discontinued Ops	-$100.0K
Other Adjustments	$0
NET INCOME	$50M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$50M
D&A	$26M
EBIT	$82M
EBITDA	$82M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$862M
Cost of Revenue	$669M
GROSS PROFIT	$192M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$111M
Other Expenses	$100.0K
Operating Expenses	$111M
Cost & Expenses	$780M
OPERATING INCOME	$82M
Interest Income	$0
Interest Expense	$15M
Other Income/Expenses	-$15M
INCOME BEFORE TAX	$67M
Income Tax Expense	$17M
Net Income from Continuing Ops	$50M
Net Income from Discontinued Ops	-$100.0K
Other Adjustments	$0
NET INCOME	$50M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$50M
D&A	$26M
EBIT	$82M
EBITDA	$82M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$50M
Depreciation & Amortization	$26M
Stock-Based Compensation	$2M
Deferred Income Tax	$0
Other Non-Cash Items	$400.0K
Change in Working Capital	-$100.0K
OPERATING CASH FLOW	$79M
Capital Expenditure	-$20M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$9M
NET CASH FROM INVESTING	-$11M
Net Debt Issuance	-$49M
Common Stock Repurchased	$700.0K
Common Dividends Paid	-$10M
Other Financing Activities	$100.0K
NET CASH FROM FINANCING	-$60M
FREE CASH FLOW	$59M
Net Change in Cash	$6M

Balance Sheet

Item	Amount
Cash & Equivalents	$161M
Short-Term Investments	$0
Net Receivables	$431M
Inventory	$312M
Other Current Assets	$46M
TOTAL CURRENT ASSETS	$951M
PP&E (Net)	$582M
Goodwill	$636M
Intangible Assets	$348M
Long-Term Investments	-$28M
Tax Assets	$28M
Other Non-Current Assets	$103M
TOTAL NON-CURRENT ASSETS	$1.7B
TOTAL ASSETS	$2.6B
Account Payables	$373M
Short-Term Debt	$18M
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$532M
Long-Term Debt	$1.1B
Deferred Revenue NC	$52M
Deferred Tax Liabilities	$28M
Other Non-Current Liabilities	$230M
TOTAL NON-CURRENT LIABILITIES	$1.4B
TOTAL LIABILITIES	$1.9B
Common Stock	$787M
Additional Paid-In Capital	$0
Retained Earnings	$0
Treasury Stock	$0
Accum. Other Comp. Income	-$57M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$731M
Minority Interest	$900.0K
TOTAL EQUITY	$732M
TOTAL LIABILITIES & EQUITY	$2.6B
Total Debt	$1.1B
Net Debt	$983M