PolyOne (POL) Tops Q4 EPS by 4c, Revenues Miss

PolyOne (NYSE: POL) reported Q4 EPS of $0.34, $0.04 better than the analyst estimate of $0.30. Revenue for the quarter came in at $658.6 million versus the consensus estimate of $687.88 million.

"Overall results for the fourth quarter were better than expected, and I\'m pleased to report 12% adjusted EPS growth for the full year," said Robert M. Patterson, Chairman, President and Chief Executive Officer, PolyOne Corporation. "Our investments in composites and other sustainable solutions helped to distinguish our performance, as Specialty Engineered Materials (SEM) led the way in both the fourth quarter and the full year."

"I also want to highlight our Distribution business, which increased operating income to a new record of $75 million for the year despite challenging end market dynamics," Mr. Patterson continued.

"2019 marks our tenth consecutive year of adjusted EPS growth, which is a milestone accomplishment. It was also the year we took two major steps forward in our specialty transformation with the divestiture of PP&S for $775 million and the definitive agreement for the acquisition of Clariant Masterbatch," Mr. Patterson said.

Commenting on the company's outlook, Mr. Patterson said, "We embark on the new year with clear momentum and confidence in our ability to deliver double-digit adjusted EPS growth in 2020 and beyond. With a more specialty portfolio and less exposure to cyclical end markets, we believe our best days are ahead."

For earnings history and earnings-related data on PolyOne (POL) click here.

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