Avient: Q4 Earnings Snapshot

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AVON LAKE, Ohio (AP) — AVON LAKE, Ohio (AP) — Avient Corp (AVNT) on Thursday reported fourth-quarter earnings of $48.3 million.

The Avon Lake, Ohio-based company said it had net income of 52 cents per share. Earnings, adjusted for non-recurring gains, were 49 cents per share.

The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 48 cents per share.

The maker of resins used in plastic pipe and other products posted revenue of $746.5 million in the period, which missed Street forecasts. Four analysts surveyed by Zacks expected $751.2 million.

For the year, the company reported profit of $169.5 million, or $1.84 per share. Revenue was reported as $3.24 billion.

Avient expects full-year earnings in the range of $2.70 to $2.94 per share.

Avient shares have climbed 2% since the beginning of the year. The stock has climbed 11% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AVNT at https://www.zacks.com/ap/AVNT