Avient Corp. (AVNT), a provider of specialized and sustainable materials solutions, reported Thursday that its third-quarter net income attributable to shareholders surged to $38.2 million or $0.41 per share from last year's $5.1 million or $0.06 per share.
Adjusted net income was $59.8 million or $0.65 per share, compared to $52.3 million or $0.57 per share a year ago.
The company reported sales of $815.2 million, compared to $753.7 million in the prior year quarter.
Analysts on average expected the company to report earnings of $0.63 per share on sales of $797.48 million, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
Looking ahead, for fiscal 2024, the company narrowed adjusted earnings per share guidance range to $2.63 to $2.67 from prior guidance range of $2.55 to $2.70. The revised guidance reflects 11 percent to 13 percent growth over the prior year.
The Street is looking for earnings of $2.64 per share for the year.
The company now expects adjusted EBITDA of $525 million to $530 million, compared to previous guidance range of $515 million to $540 million.
The company further said it increased dividend 5 percent to $1.08, on an annualized basis.
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June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.