PolyOne Q3 Adj. Profit Rises; Revenue Down 3% - Quick Facts

(RTTNews) - PolyOne Corp. (POL) reported that its third-quarter adjusted earnings per share from continuing operations increased 7 percent to $0.44 from $0.41, prior year. On average, 9 analysts polled by Thomson Reuters expected the company to report profit per share of $0.43, for the quarter. Analysts' estimates typically exclude special items.

Third-quarter revenue declined to $705 million from $729 million, prior year, as growth from acquisitions and composites partially offset weak demand. Analysts expected revenue of $719.82 million, for the quarter.

Robert Patterson, CEO, PolyOne, said: "Our investments in sustainable solutions combined with our initiatives to control costs, are helping to offset weak demand across many end markets. Most notably, sales of composite technologies organically increased 8% over the prior year, and additives into the packaging market increased 3%."