Home / Knowledge / News / Textiles / Adjusted EPS soars 36% at PolyOne in Q3
Adjusted EPS soars 36% at PolyOne in Q3
Oct '14
Despite a drop in revenues, adjusted earnings per share soared 36% year-on-year at PolyOne Corp in the third quarter ended September 30, 2014, driven by mix improvement and accelerated Spartech synergies.

“As a result of mix improvement and accelerated Spartech synergies, adjusted earnings per share increased 36% to $0.49 for the third quarter of 2014, up from $0.36 in the third quarter of 2013,” PolyOne said.

This quarter was also the 20th consecutive quarter of strong double-digit adjusted earnings per share growth, with adjusted EPS expanding at a 27% compounded annual growth rate over this five-year period.

“Our mix of earnings has never been stronger or more sustainable, and this has translated into market-beating performance for our shareholders," said CEO Robert Patterson.

The producer of specialized polymer materials, services and solutions, reported sales of $958 million for the third quarter of 2014, compared to $1.01 billion in the third quarter of 2013.

PolyOne attributed the marginal decline in sales to exiting certain unprofitable products associated with the Spartech acquisition and operations in Brazil, coupled with recent weakness in Europe.

According to PolyOne, 43% of its specialty segment revenues now come from products introduced in the last five years.

Focus on working capital management and conversion of its accelerating earnings, drove $71 million in free cash flow, giving PolyOne $264 million in cash as of September 30, 2014.

During the quarter, PolyOne leveraged its strong financial position to continue to invest in innovation, realign assets supporting its specialty portfolio and repurchase 1.5 million shares.

Robert Patterson added, "Each of our strategic platforms delivered another outstanding quarter of both operating income and margin expansion.

"Despite softer macroeconomic conditions in Europe, we achieved record-setting third quarter results and we expect to deliver strong double-digit adjusted EPS growth in the fourth quarter and beyond." (AR)

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 24th Oct 2016

Baba Ramdev’s Patanjali to enter textile manufacturing

Patanjali Ayurved, an enterprise initiated by yoga guru Baba Ramdev,...

Textiles | On 24th Oct 2016

German technology to help in energy saving in textiles

German technology can play a major role making the environment...

Courtesy: Trupik

Apparel/Garments | On 24th Oct 2016

Virtual 3D fitting rooms revolutionising online shopping

Virtual fitting rooms meant to bridge the gap between e-commerce...

Interviews View All

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Evelyne Cholet

‘France had a reputation of being big in new ideas, but poor in marketing...

Sonia Agarwal

‘The terms eco-friendly and organic are common but everyone perceives them ...

Eric Scholler

The Indian market has huge potential in technical textiles, and by far,...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Pranav Mishra

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


Advanced Search