Avient Corporation (NYSE:AVNT) Q3 2023 Earnings Call Transcript November 2, 2023 8:00 AM ET

Company Participants

Giuseppe Di Salvo - Vice President, Treasurer and Investor Relations

Robert Patterson - Chairman, President and Chief Executive Officer

Jamie Beggs - Senior Vice President and Chief Financial Officer

Conference Call Participants

Mike Harrison - Seaport Research Partners

Frank Mitsch - Fermium Research

Vincent Andrews - Morgan Stanley

Kristen Owen - Oppenheimer

Laurence Alexander - Jefferies

Vincent Anderson - Stifel

Michael Sison - Wells Fargo

Operator

Good morning, ladies and gentlemen, and welcome to Avient Corporation's Webcast to discuss the Company's Third Quarter 2023 Results. My name is Victor and I'll be your operator for today. At this time all participants are in a listen-only mode. We will have a question-and-answer session, following the Company's prepared remarks. As a reminder, this conference is being recorded for replay purposes.

I would now like to hand the -- turn the call over to Joe Di Salvo, Vice President, Treasurer and Investor Relations. Please go ahead.

Giuseppe Di Salvo

Thank you, Victor, and good morning to everyone joining us on the call today. Before beginning, I'd like to remind you that statements made during this webcast may be considered forward-looking statements. Forward-looking statements will give current expectations or forecast of future events and are not guarantees of future performance. They are based on management's expectation and involve a number of business risks and uncertainties, any of which could cause actual results to differ materially from those expressed in or implied by the forward-looking statements. Please refer to the investor presentation for this webcast for a number of factors that could cause actual results to differ.

During the discussion today the Company will use both GAAP and non-GAAP financial measures. Please refer to the presentation posted on the Avient website where the Company describes the non-GAAP measures and provides a reconciliation to their most directly comparable GAAP financial measures.

Joining me today is our Chairman, President and Chief Executive Officer, Bob Patterson and Senior Vice President and Chief Financial Officer, Jamie Beggs.

I will now hand the call over to Bob to begin.

Robert Patterson

Well, thanks, Joe, and good morning. Today we reported our third quarter results and adjusted EPS was slightly ahead of our guidance, despite lower than projected sales. We also updated our guidance for the full year, to reflect our current view of the demand environment and weaker foreign exchange.