AVON LAKE, Ohio (AP) — AVON LAKE, Ohio (AP) — Avient Corp (AVNT) on Wednesday reported fourth-quarter earnings of $28.6 million.

On a per-share basis, the Avon Lake, Ohio-based company said it had profit of 31 cents. Earnings, adjusted for one-time gains and costs, were 52 cents per share.

The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 47 cents per share.

The maker of resins used in plastic pipe and other products posted revenue of $719 million in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $709.3 million.

For the year, the company reported profit of $75.7 million, or 83 cents per share. Revenue was reported as $3.14 billion.

For the current quarter ending in March, Avient expects its per-share earnings to be 68 cents.

The company expects full-year earnings in the range of $2.40 to $2.65 per share.

Avient shares have fallen 13% since the beginning of the year. The stock has fallen 7% in the last 12 months.

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