Home / Knowledge / News / Textiles / Adjusted EPS soars 36% at PolyOne in Q3
Adjusted EPS soars 36% at PolyOne in Q3
27
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

AEPC concern over apparel exports fall; envoys meet CEA

Apparel/Garments | On 17th Nov 2017

AEPC concern over apparel exports fall; envoys meet CEA

India’s Apparel Export Promotion Council (AEPC) has expressed concern ...

Moody's improves India's rating

Textiles | On 17th Nov 2017

Moody's improves India's rating

Moody's Investors Service has upgraded the Indian Government’s local...

Sweden in talks with Birlas for smart textiles project

Textiles | On 17th Nov 2017

Sweden in talks with Birlas for smart textiles project

Sweden is seeking a collaborative project with the Aditya Birla Group ...

Interviews View All

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

November 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
68.5%
No
12.4%
Skip
19.1%

Total Votes: 89

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.8%
No
30.3%
Skip
7.9%

Total Votes: 89

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
86.5%
No
10.1%
Skip
3.4%

Total Votes: 89

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
80.9%
No
9.0%
Skip
10.1%

Total Votes: 89


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search