PolyOne Profit Tops Estimate

(RTTNews) - PolyOne Corp (POL), a providr of polymer materials and solutions, Thursday reported third-quarter net earnings of $32.7 million or $0.35 per share compared with $23 million or $0.24 per share last year.

Excluding items, adjusted earnings for the quarter were $0.49 per share compared with $0.36 per share a year ago.

Revenues for the quarter were $958 million compared with $1.01 billion in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.48 per share on revenues of $994.8 million for the quarter. Analysts' estimates typically exclude special items.

The company said that with the heightened geopolitical concerns and macroeconomic weakness, it views European business conditions as a headwind for the remainder of the year and going into 2015. Nevertheless, it expects to deliver double-digit adjusted EPS grow in the fourth quarter and beyond.