CLEVELAND, March 18, 2020 /PRNewswire/ -- PolyOne
Corporation (NYSE: POL) a premier provider of specialized polymer
materials, services and solutions, today announced that it will
hold a special investor conference call on Friday, March 20, 2020 at 9:00 am Eastern Time.
Robert M. Patterson, Chairman,
President and CEO, and Bradley C.
Richardson, Executive Vice President and CFO, will provide
insights and commentary on the company's growth expectations for
the first quarter, strong financial position, as well as the status
of the previously announced Clariant Masterbatch
acquisition.
The company reaffirms its expectation to deliver $0.48 per share of adjusted EPS for the first
quarter. This guidance was initially provided on January 28th, when the company
reported its 2019 results and it excludes the impact of the
additional shares issued in February 2020. The company cited
strong performance from its North American businesses, which is
helping to offset early first quarter impacts of the COVID-19 virus
in China. The company also expects to end the first quarter
with a cash position of $1.25
billion.
"In these globally challenging times, our priority remains on
the health and safety of our associates, customers and
communities," said Mr. Patterson. "With this in mind, we have
activated business continuity measures in all regions to ensure
we're utilizing our global footprint and resources to continue to
serve our customers. This is especially important as we are a
key supplier to crucial end markets serving the world at this time,
such as healthcare and personal care products."
Mr. Patterson added, "Normally, we would be participating in
regularly scheduled and routine investor conferences and meetings
whereby we could provide these updates. But more and more,
people are rightfully avoiding group meetings, practicing social
distancing and deferring unnecessary travel to stem the spread of
COVID-19. As such, and given recent inbound investor
inquiries regarding current market conditions and the Clariant
transaction, we are going to host this call Friday to discuss these
topics. We look forward to providing more details at that
time."
Teleconference:
|
Friday, March 20,
2020 at 9:00 am ET
|
Dial-in
number:
|
Domestic:
1-844-835-7433
|
|
International:
1-914-495-8589
|
Conference
ID:
|
4477727
|
Broadcast
live:
|
www.polyone.com/investor
|
|
|
Replay:
|
The replay will be
available for one week beginning at 12:00 pm on March 20,
2020
|
|
|
Dial-in
number:
|
Domestic:
1-855-859-2056
|
|
International:
1-404-537-3406
|
Conference
ID:
|
4477727
|
About PolyOne
PolyOne Corporation (NYSE: POL), with 2019 revenues of
$2.9 billion, is a premier provider
of specialized polymer materials, services and solutions. The
company adds value to global customers and improves sustainability
through formulating materials, such as:
- Barrier technologies that preserve the shelf-life and quality
of food, beverages, medicine and other perishable goods through
high-performance materials that require less plastic
- Light-weighting solutions that replace heavier traditional
materials like metal, glass and wood, which can improve fuel
efficiency in all modes of transportation
- Breakthrough technologies that minimize wastewater and improve
the recyclability of materials and packaging across a spectrum of
end uses
PolyOne employs approximately 5,600 associates, is certified ACC
Responsible Care® and is a founding member of the Alliance to End
Plastic Waste. For more information, visit
www.polyone.com.
Forward-looking Statements
In this press release, statements that are not reported
financial results or other historical information are
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements give current expectations or forecasts of future events
and are not guarantees of future performance. They are based on
management's expectations that involve a number of business risks
and uncertainties, any of which could cause actual results to
differ materially from those expressed in or implied by the
forward-looking statements. They use words such as "will,"
"anticipate," "estimate," "expect," "project," "intend," "plan,"
"believe," and other words and terms of similar meaning in
connection with any discussion of future operating or financial
condition, performance and/or sales. Factors that could cause
actual results to differ materially from those implied by these
forward-looking statements include, but are not limited to: the
finalization of our financial statements for the quarter ending
March 31, 2020; the time required to
consummate the acquisition of Clariant's color and additive
masterbatch business; the satisfaction or waiver of conditions in
the purchase agreements; any material adverse changes in Clariant's
color and additive masterbatch business; the ability to obtain
required regulatory or other third-party approvals and consents and
otherwise consummate the proposed acquisition of Clariant's color
and additive masterbatch business; our ability to achieve the
strategic and other objectives relating to the proposed acquisition
of Clariant's color and additive masterbatch business, including
any expected synergies; our ability to successfully integrate
Clariant's color and additive masterbatch business and achieve the
expected results of the acquisition of Clariant's color and
additive masterbatch business, including, without limitation, the
acquisition being accretive; disruptions, uncertainty or volatility
in the credit markets that could adversely impact the availability
of credit already arranged and the availability and cost of credit
in the future; the effect on foreign operations of currency
fluctuations, tariffs and other political, economic and regulatory
risks; changes in polymer consumption growth rates and laws and
regulations regarding plastics in jurisdictions where we conduct
business; changes in global industry capacity or in the rate at
which anticipated changes in industry capacity come online;
fluctuations in raw material prices, quality and supply, and in
energy prices and supply; production outages or material costs
associated with scheduled or unscheduled maintenance programs;
unanticipated developments that could occur with respect to
contingencies such as litigation and environmental matters; an
inability to raise or sustain prices for products or services; an
ability to achieve or delays in achieving or achievement of less
than the anticipated financial benefit from initiatives related to
acquisitions and integration, working capital reductions, costs
reductions and employee productivity goals; information systems
failures and cyberattacks; and other factors affecting our business
beyond our control, including, without limitation, changes in the
general economy, changes in interest rates and changes in the rate
of inflation. The above list of factors is not exhaustive.
We undertake no obligation to publicly update forward-looking
statements, whether as a result of new information, future events
or otherwise. You are advised to consult any further disclosures we
make on related subjects in our reports on Form 10-Q, 8-K and 10-K
that we provide to the Securities and Exchange Commission.
Non-GAAP Reconciliation
The Company does not provide reconciliations of forward-looking
non-GAAP financial measures, such as outlook for adjusted earnings
per share, to the most comparable GAAP financial measures on a
forward-looking basis because the Company is unable to provide a
meaningful or accurate calculation or estimation of reconciling
items and the information is not available without unreasonable
effort. This is due to the inherent difficulty of forecasting the
timing and amount of certain items, such as, but not limited to,
restructuring costs, environmental remediation costs,
acquisition-related costs, and other non-routine costs. Each of
such adjustments has not yet occurred, are out of the Company's
control and/or cannot be reasonably predicted. For the same
reasons, the Company is unable to address the probable significance
of the unavailable information.
To access PolyOne's news library online, please visit
www.polyone.com/news.
View original
content:http://www.prnewswire.com/news-releases/polyone-to-host-investor-conference-call-301026578.html
SOURCE PolyOne Corporation