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PolyOne earnings rise

8:28 AM MDT | July 31, 2013 | Vincent Valk

PolyOne’s second-quarter net income from continuing operations slightly more than doubled year-on-year (YOY) to $38.3 million, on sales up 37%, to $1.04 billion. Adjusted earnings were up 23%, to $36.6 million, or 37 cts/share, ahead of analysts’ consensus estimate of 35 cts/share, as reported by Thomson Reuters (New York). The company recorded total net income of $180.9 million, due to the closing of its vinyls divestiture to Mexichem, resulting in $224 million in pre-tax gains. “Mix improvement continues to be at the heart of our...

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