AVON LAKE, Ohio (AP) — AVON LAKE, Ohio (AP) — Avient Corp (AVNT) on Tuesday reported first-quarter earnings of $49.4 million.

The Avon Lake, Ohio-based company said it had profit of 54 cents per share. Earnings, adjusted for amortization costs and non-recurring costs, were 76 cents per share.

The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 69 cents per share.

The maker of resins used in plastic pipe and other products posted revenue of $829 million in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $825.4 million.

For the current quarter ending in June, Avient expects its per-share earnings to be 71 cents.

The company expects full-year earnings in the range of $2.50 to $2.65 per share.

Avient shares have climbed almost 7% since the beginning of the year. The stock has risen 20% in the last 12 months.

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