Avient (US:AVNT)2024-05-07 12:29Q1 2024 Financial Performance - Sales decreased by 2% from Q1 2023, with sales of $829 million in Q1 2024 compared to $846 million in Q1 2023[11] - Adjusted EBITDA increased by 7% from $134 million in Q1 2023 to $143 million in Q1 2024[11] - Adjusted EPS increased by 21% from $0.63 in Q1 2023 to $0.76 in Q1 2024[11] - Adjusted EBITDA margin increased by 150 bps compared to Q1 2023[11] Regional Demand Trends - US & Canada saw a demand increase of 2%[9] - Latin America experienced a demand decrease of 6%[9] - EMEA demand was flat[9] - Asia saw a demand increase of 2%[9] Segment Performance - Raw material deflation and cost reduction actions drove adjusted EBITDA growth and margin expansion of +180 bps in Color, Additives and Inks segment compared to Q1 2023[14] - Raw material deflation and favorable mix impact from defense sales drove adjusted EBITDA growth and margin expansion of +240 bps in Specialty Engineered Materials segment compared to Q1 2023[17] 2024 Financial Guidance - Adjusted EBITDA guidance revised to $510 to $535 million[23] - Adjusted EPS guidance revised to $2.50 to $2.65[23] - Capital expenditures are expected to be approximately $140 million[23]