PolyOne Q1 Adj. Profit From Cont. Ops. Rises - Quick Facts

(RTTNews) - PolyOne Corp. (POL) reported that its first-quarter adjusted EPS from continuing operations (excluding the impact of additional shares) improved 23% to $0.53 compared to $0.43, prior year. Inclusive of the additional shares issued in February 2020, adjusted EPS rose 12% to $0.48. On average, eight analysts polled by Thomson Reuters expected the company to report profit per share of $0.44, for the quarter. Analysts' estimates typically exclude special items.

First-quarter sales declined to $711.5 million from $750.6 million, previous year. Analysts expected revenue of $735.36 million, for the quarter.

Robert Patterson, CEO, PolyOne Corp., stated: "Market conditions remain challenged, as most of the world outside of China remains under stay-at-home orders. While our business is essential in the supply chain for our customers, we are adjusting to and expecting reduced demand in the coming months most notably for transportation and consumer discretionary items."