PolyOne: 2Q Earnings Snapshot
AVON LAKE, Ohio (AP) _ PolyOne Corp. (POL) on Thursday reported second-quarter profit of $42.1 million.
On a per-share basis, the Avon Lake, Ohio-based company said it had profit of 54 cents. Earnings, adjusted for non-recurring costs, were 74 cents per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 73 cents per share.
The maker of resins used in plastic pipe and other products posted revenue of $903.8 million in the period, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $938.2 million.
PolyOne shares have increased 11% since the beginning of the year. The stock has declined 28% in the last 12 months.