Avient (AVNT) FY2024 results: revenue $3.2 billion, up 3.1% on the year

Avient Corp. (AVNT) reported revenue of $3.2 billion for fiscal 2024, the year ended 31 December 2024, up 3.1% on the year before. Net income was $170 million, up 123.9%, and diluted earnings per share $1.84. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2025.

Revenue

$3.2 billion

+3.1% on the year

FY2017FY2024

Operating margin

10.2%

6.3% a year earlier

FY2017FY2024

Net income

$170 million

+123.9% on the year

FY2017FY2024

Diluted EPS

$1.84

+121.7% on the year

FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ million	FY2024	FY2023	FY2022	On the year
Revenue	3,240	3,143	3,397	+3.1%
Cost of revenue	2,184	2,250	2,514	-3.0%
Gross profit	1,057	892	883	+18.4%
Gross margin	32.6%	28.4%	26.0%
Research and development	98.7	90.3	84.9	+9.3%
Selling, general and administrative	727	696	639	+4.6%
Operating income	329	197	243	+67.3%
Operating margin	10.2%	6.3%	7.2%
Interest expense	106	115	120	-8.4%
Pre-tax income	225	87.3	63.8	+157.5%
Income tax	54.1	11.0	-19.3	+391.8%
Effective tax rate	24.1%	12.6%	-30.3%
Net income	170	75.7	703	+123.9%
Net margin	5.2%	2.4%	20.7%
Diluted EPS	$1.84	$0.83	$7.63	+121.7%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	FY2024	FY2023	FY2022	On the year
Operating cash flow	257	202	398	+27.4%
Capital expenditure	122	119	106	+2.1%
Free cash flow	135	82.2	293	+64.1%
Free cash flow margin	4.2%	2.6%	8.6%
Cash from investing	-121	-94.2	-504
Cash from financing	-121	-202	166
Depreciation and amortisation	180	189	163	-4.8%
Share-based compensation	15.4	13.2	13.2	+16.7%
Buybacks	0.0	0.0	36.4
Dividends paid	94.0	90.2	86.8	+4.2%
Dividend per share	$1.04	$1.00	$0.96	+4.2%
Diluted shares, weighted	92m	92m	92m	+0.2%

Balance sheet

$ million	FY2024	FY2023	FY2022	On the year
Shareholders' equity	2,314	2,319	2,334	-0.2%
Non-controlling interest	15.8	18.8	18.3	-16.0%
Debt	2,067	2,080	2,179	-0.6%
Operating lease liabilities	63.5	43.2	40.9	+47.0%
Other liabilities	1,351	1,507	1,512	-10.4%
Total liabilities and equity	5,811	5,968	6,085	-2.6%
Fixed assets	955	1,029	1,049	-7.2%
Goodwill	1,660	1,719	1,672	-3.5%
Intangible assets	1,450	1,591	1,598	-8.8%
Cash and equivalents	544	546	641	-0.2%
Receivables	400	400	441	-0.1%
Inventory	347	347	373	-0.1%
Other assets	455	337	312	+35.1%
Total assets	5,811	5,968	6,085	-2.6%

10-K for the year ended 31 December 2024, filed 18 February 2025: the filing.