CLEVELAND-PolyOne Corporation reports its third-quarter results for 2017. The company’s report includes standard earnings statistics, as well as mention of recent acquisitions.
Results for the third quarter include an increase in GAAP earnings per-share to 49 cents from 51 cents in third quarter 2016. PolyOne also reports a bump in earnings per share, moving to 58 cents from 55 cents last year.
“Our investments in commercial resources, innovation, and specialty acquisitions continue to drive results, as we delivered record adjusted EPS of 58 cents for the third quarter,” says Robert M. Patterson, CEO of PolyOne Corporation. “Color, additives, and inks led the way with all-time high revenue and operating income.”
Patterson adds that the company sees a 10 percent rise to $818 million in consolidated sales for the quarter, driven partially by organic expansion, as well as recent acquisitions. Two major acquisitions for the company include screen-printing ink maker Rutland Holding Company, and Mesa Industries, a producer of color and additive materials. PolyOne acquired both companies during the summer of 2017.
The company also reports a minor raw material supply and transportation disruption, which it attributes to recent damage by Hurricanes Irma and Harvey.
“We are very pleased with our recent performance; however, like many companies, we have been focused on the safety and welfare of employees, families, and communities impacted by Hurricanes Harvey and Irma,” states Patterson. “While our facilities were undamaged and all of our employees are safe, others were not as fortunate.”
PolyOne released full details of its third-quarter earnings in a conference call on Oct. 25.
For more information, visit www.polyone.com.