8-K

                             SECURITIES AND EXCHANGE
                                   COMMISSION

                              Washington, DC 20549

                                   ----------

                                    FORM 8-K


                                 CURRENT REPORT
     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

         Date of report (Date of earliest event reported): June 29, 2007
                                                           -------------


                               POLYONE CORPORATION
               --------------------------------------------------
               (Exact name of registrant as specified in charter)


        Ohio                        1-16091                    34-1730488
       ------                      ----------                ---------------
   (State or other                (Commission                    (I.R.S.
   jurisdiction of                File Number)                  Employer
   incorporation)                                            Identification
                                                                  No.)


            PolyOne Center, 33587 Walker Road, Avon Lake, Ohio 44012
            --------------------------------------------------------
               (Address of principal executive offices) (Zip Code)


       Registrant's telephone number, including area code: (440) 930-1000
                                                           --------------

       ------------------------------------------------------------------
         (Former name or former address, if changed since last report.)


Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing requirements of the registrant under any of
the following provisions:

|_| Written communications pursuant to Rule 425 under the Securities Act (17 CFR
    230.425)

|_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
    240.14a-12)

|_| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
    Act (17 CFR 240.14d-2(b))

|_| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
    Act (17 CFR 240.13E-4(c))




Item 7.01 - Regulation FD Disclosure.

On June 29, 2007, the Registrant issued a press release, furnished herewith as
Exhibit 99.1, updating its second-quarter 2007 financial outlook. The press
release shall not be deemed to be "filed" under the Securities Exchange Act of
1934.


Item 9.01.  Financial Statements and Exhibits.

   (d) Exhibits.

            Exhibit 99.1 - Press release dated June 29, 2007, furnished
herewith.



                                    SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                               POLYONE CORPORATION

                               By:  /s/ W. David Wilson
                                    ------------------------------------
                                    W. David Wilson
                                    Senior Vice President and
                                    Chief Financial Officer


Dated: June 29, 2007

EX-99.1

[PolyOne logo]
                                                                    NEWS RELEASE


                   PolyOne Updates 2007 Second-quarter Outlook


CLEVELAND - June 29, 2007 - PolyOne Corporation (NYSE: POL) today updated its
outlook for the second quarter ending June 30, 2007.

The Company expects second-quarter sales to rebound sequentially by 4 percent to
6 percent over the first quarter of 2007. Compared with the second quarter of
2006, PolyOne anticipates this year's second-quarter sales will be flat to
slightly up, despite weakness in construction-related and automotive end
markets.

PolyOne anticipates strong year-over-year sales and earnings increases for its
International Color and Engineered Materials segment, with double-digit growth
in both Europe and Asia. Additionally, the Company anticipates realizing modest
sequential and year-over-year second-quarter gross margin improvement in its
operating businesses, excluding the Vinyl Business segment. This achievement
reflects benefits from the continued implementation of the four core components
of PolyOne's growth strategy: specialization, globalization, operational
excellence and commercial excellence.

Income performance from PolyOne's vinyl chain business segments is projected to
be weak as a result of poor demand in construction-related end markets and
escalating raw materials. Even though second quarter sales for PolyOne's Vinyl
Business segment are forecast to increase sequentially, significant raw material
cost increases are anticipated to materially decrease segment earnings results
compared with the first quarter of 2007. In the Resin and Intermediates segment,
PolyOne projects a modest sequential earnings improvement for Oxy Vinyls, LP.
SunBelt's chlor-alkali margins, on the other hand, are projected to remain
relatively strong and advance moderately compared with first-quarter 2007
levels.

Other Considerations:

o    Compared with the second quarter of 2006, the Company anticipates Corporate
     and other expenses will reflect a net increase of approximately $5.7
     million primarily due to prior year benefits from litigation settlements
     and adjustments to associated operating reserves.

o    The Company will record a higher effective tax rate in the second quarter
     of 2007 compared with the same period in 2006, due to the reversal of a
     portion of the Company's deferred tax asset allowance in the second quarter
     of 2006. This will not affect cash flow because PolyOne has remaining
     domestic net operating loss carry-forwards. Cash taxes will continue to be
     associated principally with non-U.S. earnings.



o    On June 27, 2007, PolyOne completed the redemption of $100 million in
     aggregate principal amount of its 10.625 percent Senior Notes due 2010.
     Upon completion of this redemption, $141.37 million of these notes will
     remain outstanding. Prepayment and other costs associated with this
     transaction are anticipated to be approximately $7 million.


Second-quarter 2007 Earnings Release and Conference Call

PolyOne intends to release its second quarter earnings on Tuesday, August 7,
2007, and host a conference call at 9:00 a.m. Eastern time on Wednesday, August
8, 2007. The conference dial-in number is 866-543-6403 (domestic) or
617-213-8896 (international), passcode 34382861, conference topic:
Second-quarter 2007 PolyOne Earnings Conference Call. The replay number is
888-286-8010 (domestic) or 617-801-6888 (international). The passcode for the
replay is 48872952. The call will be broadcast live and then be available via
replay until Monday, August 13, 2007 on the Company's Web site at
www.polyone.com.

About PolyOne

PolyOne Corporation, with 2006 annual revenues of $2.6 billion, is a leading
global provider of specialized polymer materials, services and solutions.
Headquartered in northeast Ohio, PolyOne has operations in North America,
Europe, Asia and Australia, and joint ventures in North America and South
America. See www.polyone.com for additional information on PolyOne.

Investor & Media Contact:       Dennis Cocco
                                Vice President, Investor Relations
                                & Communications
                                440.930.1538


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. You can identify these statements by the fact
that they do not relate strictly to historic or current facts. They use words
such as "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 performance and/or sales. In
particular, these include statements relating to future actions; prospective
changes in raw material costs, product pricing or product demand; future
performance, including, without limitation, meeting cash flow goals, receiving
cash distributions from equity affiliates and achieving working capital targets;
results of current and anticipated market conditions and market strategies;
sales efforts; expenses; the outcome of contingencies such as legal proceedings;
and financial results. Factors that could cause actual results to differ
materially include, but are not limited to:
o     the effect on foreign operations of currency fluctuations, tariffs,
      nationalization, exchange controls, limitations on foreign investment in
      local businesses and other political, economic and regulatory risks;
o     changes in polymer consumption growth rates within the U.S., Europe or
      Asia or other countries where PolyOne conducts business;
o     changes in global industry capacity or in the rate at which anticipated
      changes in industry capacity come online in the polyvinyl chloride (PVC),
      chlor-alkali, vinyl chloride monomer (VCM) or other industries in which
      PolyOne participates;

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o     fluctuations in raw material prices, quality and supply and in energy
      prices and supply, in particular fluctuations outside the normal range of
      industry cycles;
o     production outages or material costs associated with scheduled or
      unscheduled maintenance programs;
o     costs, difficulties or delays related to the operation of joint venture
      entities;
o     lack of day-to-day operating control, including procurement of raw
      materials, of equity affiliates or joint ventures;
o     partial control over investment decisions and dividend distribution policy
      of the OxyVinyls partnership and other minority equity holdings of
      PolyOne;
o     an inability to launch new products and/or services within PolyOne's
      various businesses;
o     the possibility of further goodwill impairment;
o     an inability to maintain any required licenses or permits;
o     an inability to comply with any environmental laws and regulations;
o     the cost of compliance with environmental laws and regulations, including
      any increased cost of complying with new or revised laws and regulations;
o     unanticipated developments that could occur with respect to contingencies
      such as litigation and environmental matters, including any developments
      that would require any increase in our costs and/or reserves for such
      contingencies;
o     an inability to achieve or delays in achieving or achievement of less than
      the anticipated financial benefit from initiatives related to cost
      reductions and employee productivity goals;
o     a delay or inability to achieve targeted debt level reductions;
o     an inability to access the receivables sale facility as a result of
      breaching covenants due to not achieving anticipated earnings performance
      or for any other reason;
o     any poor performance of our pension plan assets and any obligation on our
      part to fund PolyOne's pension plan;
o     any delay and/or inability to bring the North American Color and Additives
      and the North American Engineered Materials segments to profitability;
o     an inability to raise or sustain prices for products or services;
o     an inability to maintain appropriate relations with unions and employees
      in certain locations in order to avoid business disruptions;
o     any change in any agreements with product suppliers to PolyOne
      Distribution that prohibits PolyOne from continuing to distribute a
      supplier's products to customers;
o     the timing and amounts of any repurchases of outstanding senior notes and
      debentures of the Company, including the amount of any premiums paid, and
o     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.

We cannot guarantee that any forward-looking statement will be realized,
although we believe we have been prudent in our plans and assumptions.
Achievement of future results is subject to risks, uncertainties and inaccurate
assumptions. Should known or unknown risks or uncertainties materialize, or
should underlying assumptions prove inaccurate, actual results could vary
materially from those anticipated, estimated or projected. Investors should bear
this in mind as they consider forward-looking statements.

We undertake no obligation to publicly update forward-looking statements,
whether as a result of new information, future events or otherwise. You are
advised, however, 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. You should understand that it is not possible to predict or
identify all risk factors. Consequently, you should not consider any list to be
a complete set of all potential risks or uncertainties. (Ref. #62907)


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